E.S.B. Gmetrix Certification (Post Assessment 1-6) with Complete Solutions!!

After doing a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to risk alot of his own money. What would be his best option? - ANSWER-Purchase an existing business Besides defining strengths and weaknesses, what is the other main factor determined during a self-assessment? - ANSWER-Risk tolerance Todd wants to open a golf shop. Todd doesn't have any collateral except for his Ford Pinto. Upon attempting to secure financing from a bank, Todd is rejected for lack of collateral. Todd then turns to private investors in an effort to get the business started. What entrepreneurial characteristic is Todd exhibiting? - ANSWER-Flexibility Phyllis owns multiple pet stores. Phyllis opens a new pet store in a growing area of town but the new store fails and closes after a year. How should Phyllis best handle this? - ANSWER-evaluate why the store failed and use that knowledge for future ventures Donnie is new to a town that does not have a doggie day care facility. Upon researching the situation, Donnie decides to open a doggie day care facility. Which marketing option for this new business should be a point of emphasis? - ANSWER-Location Which entrepreneurial trait best deals with ambiguity? - ANSWER-Patience Fran works for a flooring company in a neighboring town. Many of Fran's customers complain about lack of available flooring companies in the area and that of those companies, prices are too high. Should Fran decide to open a flooring business, what can be a good marketing strategy? - ANSWER-Lower prices Which are considered rewards of being an entrepreneur? Choose 3 answers. - ANSWER-Bigger community asset, better earnings, working the way one chooses Rey has worked as a transportation coordinator for the past 10 years. Rey often is dissatisfied with the stagnation of the job and wants to open her own transportation service. Which benefit of entrepreneurship will be the biggest one for Rey? - ANSWER-Autonomy