Questions and Answers
What is the main distinguishing factor of a home-based business?
Is run from home
Which of the following is NOT a common feature of a home-based business?
Access to a large commercial space
What advantage does a home-based business offer in terms of expenses?
Lower overhead costs
In what way does running a business from home impact work-life balance?
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What feature makes a home-based business an attractive option for many entrepreneurs?
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What is a defining characteristic of a small business according to the text?
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How many employees does a small business typically have according to the Small Business Administration?
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Which of the following business structures is commonly associated with small businesses?
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What distinguishes small businesses from larger corporations?
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In terms of ownership, what is a common feature of small businesses?
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What is a key requirement for an entrepreneur who wants to build a sustainable company?
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Which approach is NOT recommended for entrepreneurs aiming to build a sustainable company?
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What type of strategy should an entrepreneur avoid when aiming for sustainability?
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What is a characteristic of a successful strategy for building a sustainable company?
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Which factor is most crucial for an entrepreneur striving to create a lasting business venture?
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What is a common mistake that many entrepreneurs make according to the text?
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Why is setting a long-term strategy important for entrepreneurs?
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What impact can neglecting long-term strategy have on a business?
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How does focusing only on short-term opportunities affect a business's growth potential?
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Which approach do many entrepreneurs take when starting businesses, as mentioned in the text?
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How can the culture of a company, shaped by the first wave of employees, impact the founders' goals and strategies?
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What influence do the personalities and values of the first wave of employees have on a company's culture?
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In what way can a culture not serving the founders' goals and strategies be detrimental to a company?
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What role does the first wave of employees play in setting the foundation for a company's culture?
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Why is it crucial for founders to be aware of how the first employees shape a company's culture?
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