Oct 29, 2001

The Life of an Entrepreneur: Quiz Part I

1. The best way to start your own business is:

a) with at least one year's operating costs in the bank?

b) with no money down?

2. The most important thing about a new business is:

a) having a great idea for a great product or service?

b) having good management and good execution?

3. Define an entrepreneur?

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4. How do most entrepreneurs get started?

a) They seek and obtain venture capital.

b) They borrow money from Mom, Dad or rich Uncle Buck.

c) They find a need in the marketplace and meet it by getting a bank loan.

d) They find a need in the marketplace and meet it by getting their first customer locked in and signed up, then scramble to produce the goods or services.

5. What is the difference between having a J.O.B. and being a true entrepreneur?

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6. The Internet is all about:

a) automation?

b) reversing out the work?

c) shareware?

d) supply chain management?

d) e commerce?

e) e business?

f) email?

g) surfing?

7. I want to have my own Personal Web Site because:

a) it would be cool to have one.

b) I want to collect my personal IP over my career and eventually use it to create value while I'm lying on a beach.

c) here is my real reason:

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d) I don't want one; it's a waste of time.

8. My PWS could earn money for me by:

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9. What is bootstrap marketing or guerrilla marketing?

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10. If I had to design a guerrilla marketing campaign for the Canadian Internet registration Authority, I would:

a) rely on a net based campaign because it is cheaper.

b) start a billboard campaign in RL (Real Life) because the dot CA TLD needs to get noticed.

c) devise a crossover campaign between RL and cyberspace, which would look like this:

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11. I am going to work for a large company or for the government so I don't need to know anything about being an entrepreneur or intrapreneur because:

a) I have job security anyway and a guaranteed job-for-life.

b) People who stick their necks out, generally get it cut off.

c) Big organizations don't need or want entrepreneurs.

d) I don't agree with the above because:

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12. My biggest asset when I'm 50 will be:

a) my house.

b) my RRSPs.

c) my pension plan.

d) my own business.

e) my personal IP.

f) other: ______________________________________

Student Name:

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Student Number:

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