ESB Study Set (Complete Guide)
Geographic ✔️Ans - A plumber is seeking new customers. The plumber
has identified a group of potential customers that live in older neighborhoods
that tend to have more plumbing problems. Which method of segmentation is
the owner using?
Increase price changed for a service and decrease cost of supplies ✔️Ans -
A barber shop records all costs of operating the business in two expense
categories. The first category is cost of good sold and the second is overhead.
For the past six month, the shop has shown a loss at the gross profit level How
can the owner improve the prospects of making a profit?
Zoning ✔️Ans - An entrepreneur opened a business and has sufficient
money to move to a new neighborhood. Which requirement will eliminate a
location from consideration?
60 ✔️Ans - A furniture builder generates $1000 per sale on average, and
she needs to generate $12,000 per month to break even. Through experience,
she finds that 20% of her active prospects buy within 30 days. How many
prospects should the furniture builder have in her active client listings at all
times, at a minimum?
Patent ✔️Ans - A beautician develops a tool for applying hair dye more
efficiently. Which legal form of protection should the beautician apply for to
protect this intellectual property?
Require his staff to undergo extensive background checks ✔️Ans - A
janitor provides evening cleaning services to local businesses and wants to
expand his business to provide services to homeowners. The janitor holds an
open house to allow neighbors to share concerns they may have about using
housecleaning services. Homeowners say they are concerned with having
strangers in their homes and whether the cleaners would be comfortable
work around children.
, Social Media ✔️Ans - A fitness trainer in the downtown area of a major
city is trying to attract Millennials by offering extended hours in the evening.
The owner has a limited promotional budget. What is an efficient way to reach
these customers?
150 ✔️Ans - A baker serves a high end market, including celebrity
weddings. On average, the baker makes $1000 in gross margin per sale. The
baker's monthly overhead expenses are $15,000. Through experience, she
finds that 10% of her active prospects buy within 30 days. At a minimum how
many prospects should the baker have in her active client listing at all times?
Angel investors typically offer their expertise to the entrepreneur in addition
to their capital investment. ✔️Ans - What is a benefit for entrepreneurs in
using angel investors for start up equity?
Whether the business can afford to pay the salary of the ITM ✔️Ans - A
travel agent wants to hire a new Information Technology Manager (ITM) for a
fast-growing startup. The company is two years old, and the ITM is a salaried
position that overseas all technology operations. Which factor could prevent
the hire?
What is the disposable income of consumers who live or work in the area?
✔️Ans - How much foot traffic is there in the neighborhood? , Gerry wants to
open a florist shop in a vacant building in a downtown shopping area. Gerry
needs to determine whether there is sufficient demand for a florist shop.
Which two questions should Gerry ask? (Choose Two)
Purchase a franchise agreement to get a well known system of doing business
✔️Ans - A beautician wants to start a hair salon business. When 100 potential
customers were surveyed they provided the following responses 20% would
shop at an existing business 30% would shop at a new kind of hair salon 60%
would try a franchise location 10% would us a new technology The customers
reported they would be willing to spend the following amounts: Less than $20
30% $20 - $40 30% $40-$80 20% More than $80 20% Which business
opportunity is appropriate from a revenue prospective?
Create a Facebook "Customer satisfaction" page and respond to customer
comments and suggestions. ✔️Ans - A local restaurant is struggling to
Geographic ✔️Ans - A plumber is seeking new customers. The plumber
has identified a group of potential customers that live in older neighborhoods
that tend to have more plumbing problems. Which method of segmentation is
the owner using?
Increase price changed for a service and decrease cost of supplies ✔️Ans -
A barber shop records all costs of operating the business in two expense
categories. The first category is cost of good sold and the second is overhead.
For the past six month, the shop has shown a loss at the gross profit level How
can the owner improve the prospects of making a profit?
Zoning ✔️Ans - An entrepreneur opened a business and has sufficient
money to move to a new neighborhood. Which requirement will eliminate a
location from consideration?
60 ✔️Ans - A furniture builder generates $1000 per sale on average, and
she needs to generate $12,000 per month to break even. Through experience,
she finds that 20% of her active prospects buy within 30 days. How many
prospects should the furniture builder have in her active client listings at all
times, at a minimum?
Patent ✔️Ans - A beautician develops a tool for applying hair dye more
efficiently. Which legal form of protection should the beautician apply for to
protect this intellectual property?
Require his staff to undergo extensive background checks ✔️Ans - A
janitor provides evening cleaning services to local businesses and wants to
expand his business to provide services to homeowners. The janitor holds an
open house to allow neighbors to share concerns they may have about using
housecleaning services. Homeowners say they are concerned with having
strangers in their homes and whether the cleaners would be comfortable
work around children.
, Social Media ✔️Ans - A fitness trainer in the downtown area of a major
city is trying to attract Millennials by offering extended hours in the evening.
The owner has a limited promotional budget. What is an efficient way to reach
these customers?
150 ✔️Ans - A baker serves a high end market, including celebrity
weddings. On average, the baker makes $1000 in gross margin per sale. The
baker's monthly overhead expenses are $15,000. Through experience, she
finds that 10% of her active prospects buy within 30 days. At a minimum how
many prospects should the baker have in her active client listing at all times?
Angel investors typically offer their expertise to the entrepreneur in addition
to their capital investment. ✔️Ans - What is a benefit for entrepreneurs in
using angel investors for start up equity?
Whether the business can afford to pay the salary of the ITM ✔️Ans - A
travel agent wants to hire a new Information Technology Manager (ITM) for a
fast-growing startup. The company is two years old, and the ITM is a salaried
position that overseas all technology operations. Which factor could prevent
the hire?
What is the disposable income of consumers who live or work in the area?
✔️Ans - How much foot traffic is there in the neighborhood? , Gerry wants to
open a florist shop in a vacant building in a downtown shopping area. Gerry
needs to determine whether there is sufficient demand for a florist shop.
Which two questions should Gerry ask? (Choose Two)
Purchase a franchise agreement to get a well known system of doing business
✔️Ans - A beautician wants to start a hair salon business. When 100 potential
customers were surveyed they provided the following responses 20% would
shop at an existing business 30% would shop at a new kind of hair salon 60%
would try a franchise location 10% would us a new technology The customers
reported they would be willing to spend the following amounts: Less than $20
30% $20 - $40 30% $40-$80 20% More than $80 20% Which business
opportunity is appropriate from a revenue prospective?
Create a Facebook "Customer satisfaction" page and respond to customer
comments and suggestions. ✔️Ans - A local restaurant is struggling to
