Podcast
Questions and Answers
What is a major drawback of being an entrepreneur?
What is a major drawback of being an entrepreneur?
- Piece work compensation
- High fixed salary
- Slow return on investment (correct)
- Hourly pay system
Which characteristic is essential for an entrepreneur according to the text?
Which characteristic is essential for an entrepreneur according to the text?
- Strict adherence to rules
- Hourly pay expectation
- Fixed mindset
- Risk Tolerance (correct)
What type of worker receives a fixed amount of pay regardless of hours worked?
What type of worker receives a fixed amount of pay regardless of hours worked?
- Salary worker (correct)
- Piece work worker
- Hourly worker
- Commissioned worker
Which business form has unlimited personal liability for the owner?
Which business form has unlimited personal liability for the owner?
What do founders and partners in a company typically have in terms of equity?
What do founders and partners in a company typically have in terms of equity?
Which characteristic is important for opportunity recognition in entrepreneurship?
Which characteristic is important for opportunity recognition in entrepreneurship?
What is the advantage of equity financing over debt financing?
What is the advantage of equity financing over debt financing?
What is a disadvantage of debt financing according to the text?
What is a disadvantage of debt financing according to the text?
In the provided ROI example, what is the Return on Investment (ROI)?
In the provided ROI example, what is the Return on Investment (ROI)?
During a business's annual review, if employees receive a 17% increase in wages, what should the employer do to balance operational expenses?
During a business's annual review, if employees receive a 17% increase in wages, what should the employer do to balance operational expenses?
How is equity in a business calculated according to the text?
How is equity in a business calculated according to the text?
What action should a company take if it wants to avoid the disadvantage of debt financing mentioned in the text?
What action should a company take if it wants to avoid the disadvantage of debt financing mentioned in the text?
What percentage of users should be 'very disappointed' if they could no longer use your product, according to Sean Ellis?
What percentage of users should be 'very disappointed' if they could no longer use your product, according to Sean Ellis?
Which of the following is NOT a type of startup cost?
Which of the following is NOT a type of startup cost?
What should be considered during the MVP stage regarding quality control testing?
What should be considered during the MVP stage regarding quality control testing?
Which cost category includes expenses that would still be incurred even if no sales were generated?
Which cost category includes expenses that would still be incurred even if no sales were generated?
In the context of startup costs, what do 'material' and 'labor' refer to?
In the context of startup costs, what do 'material' and 'labor' refer to?
Why is it important to research product and industry standards before officially going to market?
Why is it important to research product and industry standards before officially going to market?
