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12 Questions

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Entrepreneurship vs Business Ownership

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Questions and Answers

How do entrepreneurs view their companies?

As assets to be developed and sold for a profit (correct)

As a part of their family history

As a means of supporting their local community

As a way to pass on to the next generation

What is a revenue forecast?

A financial report

A long-term business plan

A sales strategy

A prediction of business activity for a future period (correct)

What is the primary difference between entrepreneurs and business owners?

Their attitude towards their businesses (correct)

Their business model

Their level of experience

The industry they operate in

Why is revenue forecasting important in sales planning?

It provides a business plan for managing sales territories Signup and view all the answers

What is an example of a revenue forecast?

A sales pro forma in a business plan Signup and view all the answers

What do entrepreneurs often do with their companies after developing them?

They sell them for a profit Signup and view all the answers

What is the primary motivation for entrepreneurs to develop and shape their companies?

To sell it for a profit Signup and view all the answers

What is the role of revenue forecasting in sales planning?

To plan future sales activities and identify target customers Signup and view all the answers

How do business owners tend to view their businesses?

As a part of their family's history Signup and view all the answers

What is the primary benefit of sales reps making their own forecasts?

It provides them with a business plan to manage their territory Signup and view all the answers

What is the role of a sales pro forma in a business plan?

It serves as a revenue forecast for the business Signup and view all the answers

What is the relationship between a company's revenue forecast and its sales strategy?

The sales strategy is used to create the revenue forecast Signup and view all the answers