ESB EXAM STUDY GUIDE/QUESTIONS WITH COMPLETE
ESB EXAM Study Guide
SOLUTIONS/NEWEST UPDATE
Study online at https://quizlet.com/_9o7gqw
1. Flexibility Ability to adapt, willingness to change
2. Courage Takes risks in spite of possible losses
3. Empathy Sensitive to thoughts and feelings of others
4. What are three characteristics of entre- Creativity, Determination, Enthusiasm
preneurs?
5. After a self-assessment, a potential en- Buy an existing business that is already success-
trepreneur has learned that she has a ful.
very low risk tolerance. Based upon this
finding, which approach might be less
stressful for the entrepreneur to have
her own business?
6. An entrepreneur moves into a small Location
town and notices several stores selling
guns and ammunition. The entrepre-
neur loves to compete in competitive
shooting events. Based on the scenario
provided, what should be emphasized
in marketing to attract customers?
7. An entrepreneur has been working for Lower Prices
a flooring business in a neighboring
town. He feels he is ready to open his
own flooring business in his local com-
munity. Which should be emphasized
in marketing to attract customers to his
new business?
8. Being your own boss
, ESB EXAM Study Guide
Study online at https://quizlet.com/_9o7gqw
Which is one of the greatest benefits of
entrepreneurship?
9. Which are three risks of entrepreneur- Long hours, potential business failure, financial
ship? insecurity
10. Gabe has worked as a journeyman elec- Autonomy
trician for an employer for the past 16
years. He is paid a good salary. His only
dissatisfaction is the hours are long and
often when he requests time off he is
denied because of customer workload.
Which benefit of entrepreneurship will
Gabe most enjoy?
11. What is a primary benefit of starting Developing your own rules
a new business without purchasing a
franchise or buying an existing busi-
ness?
12. A mechanic just graduated from motor- Start a new business and invest $50,000 in mod-
cycle repair school and wants to start a ern diagnostic tools.
business because there is a lack of mo-
torcycle repair shops in the local town.
Given the facts provided, which oppor-
tunity would be the best choice for the
motorcycle mechanic to open a busi-
ness?
13. An entrepreneur who has a hobby in Build an online storefront
leathercraft wants to turn it into a
business. She wants to sell purses,
belts, and other leathercrafts from her
, ESB EXAM Study Guide
Study online at https://quizlet.com/_9o7gqw
home. Which opportunity for starting
a leathercraft business would have the
highest probability of success?
14. Based upon the education and skills Businesses
gained from the years of vocational
training as an auto mechanic, as well
as having grown up in a family of en-
trepreneurs, a young adult decides to
open an auto mechanic shop. Which
customer group will this new auto me-
chanic business support?
15. The owner of a pizza delivery business Geographic
is seeking new customers. The owner
has identified a group of potential cus-
tomers that have moved into some new
housing within reaches of his drivers.
Which method of segmentation is the
owner using?
16. A child daycare center needs to identify Providing live web cams parents can access from
a value of proposition that will help par- the Internet by using a secure logon. Offering a
ents feel secure about using their ser- list of references from other parents
vices. Which two initiatives meets this
objective?
17. The owner of a pet daycare is present- Providing extended hours to pickup and drop off
ing a plan to investors to expand the fa- pets before and after work
cility and promises the center will meet
the needs of customers with a variety
of schedules. What is a legitimate value
proposition for potential customers?
ESB EXAM Study Guide
SOLUTIONS/NEWEST UPDATE
Study online at https://quizlet.com/_9o7gqw
1. Flexibility Ability to adapt, willingness to change
2. Courage Takes risks in spite of possible losses
3. Empathy Sensitive to thoughts and feelings of others
4. What are three characteristics of entre- Creativity, Determination, Enthusiasm
preneurs?
5. After a self-assessment, a potential en- Buy an existing business that is already success-
trepreneur has learned that she has a ful.
very low risk tolerance. Based upon this
finding, which approach might be less
stressful for the entrepreneur to have
her own business?
6. An entrepreneur moves into a small Location
town and notices several stores selling
guns and ammunition. The entrepre-
neur loves to compete in competitive
shooting events. Based on the scenario
provided, what should be emphasized
in marketing to attract customers?
7. An entrepreneur has been working for Lower Prices
a flooring business in a neighboring
town. He feels he is ready to open his
own flooring business in his local com-
munity. Which should be emphasized
in marketing to attract customers to his
new business?
8. Being your own boss
, ESB EXAM Study Guide
Study online at https://quizlet.com/_9o7gqw
Which is one of the greatest benefits of
entrepreneurship?
9. Which are three risks of entrepreneur- Long hours, potential business failure, financial
ship? insecurity
10. Gabe has worked as a journeyman elec- Autonomy
trician for an employer for the past 16
years. He is paid a good salary. His only
dissatisfaction is the hours are long and
often when he requests time off he is
denied because of customer workload.
Which benefit of entrepreneurship will
Gabe most enjoy?
11. What is a primary benefit of starting Developing your own rules
a new business without purchasing a
franchise or buying an existing busi-
ness?
12. A mechanic just graduated from motor- Start a new business and invest $50,000 in mod-
cycle repair school and wants to start a ern diagnostic tools.
business because there is a lack of mo-
torcycle repair shops in the local town.
Given the facts provided, which oppor-
tunity would be the best choice for the
motorcycle mechanic to open a busi-
ness?
13. An entrepreneur who has a hobby in Build an online storefront
leathercraft wants to turn it into a
business. She wants to sell purses,
belts, and other leathercrafts from her
, ESB EXAM Study Guide
Study online at https://quizlet.com/_9o7gqw
home. Which opportunity for starting
a leathercraft business would have the
highest probability of success?
14. Based upon the education and skills Businesses
gained from the years of vocational
training as an auto mechanic, as well
as having grown up in a family of en-
trepreneurs, a young adult decides to
open an auto mechanic shop. Which
customer group will this new auto me-
chanic business support?
15. The owner of a pizza delivery business Geographic
is seeking new customers. The owner
has identified a group of potential cus-
tomers that have moved into some new
housing within reaches of his drivers.
Which method of segmentation is the
owner using?
16. A child daycare center needs to identify Providing live web cams parents can access from
a value of proposition that will help par- the Internet by using a secure logon. Offering a
ents feel secure about using their ser- list of references from other parents
vices. Which two initiatives meets this
objective?
17. The owner of a pet daycare is present- Providing extended hours to pickup and drop off
ing a plan to investors to expand the fa- pets before and after work
cility and promises the center will meet
the needs of customers with a variety
of schedules. What is a legitimate value
proposition for potential customers?
