Micro enterprise nine steps

Question 1

there are 9 steps to launching a small business

Answer 1

true

Question 2

The higher your insurance deductible is the lower your premium will be

Answer 2

true

Question 3

Step 7 requires that you set up your business on the small business association website

Answer 3

false

Question 4

The first few times a pro forma is completed by a new business it shows negative results.

Answer 4

true

Question 5

Steps one through six are considered administrative requirements for starting your own business.

Answer 5

false

Question 6

Creating a differentiated offering means that you are creating something that no one else has.

Answer 6

true

Question 7

All entrepreneurs staring a new business should create an elevator speech about themselves to tell potential investors.

Answer 7

false

Question 8

Errors and omissions insurance protects your company from malpractice suits.

Answer 8

true

Question 9

In identifying your target market, you are deciding which products you will sell.

Answer 9

false

Question 10

Property insurance covers anything that happens at your business.

Answer 10

true

Question 11

incase employees are injured

Answer 11

worker’s compensation

Question 12

is the annual costs of your insurance

Answer 12

premium

Question 13

to protect your building, inventory, and equipment from fire, flood, or/and vandalism

Answer 13

property insurance

Question 14

how you intend to communicate to large numbers of customers, motivating them to learn more about your business

Answer 14

marketing

Question 15

the protect the business and the owner’s families in case the entrepreneur passes away

Answer 15

key person life insurance

Question 16

an entrepreneurs actions & decisions are guided by a set of beliefs about how he/she wants the business to succeed

Answer 16

mission driven

Question 17

indicates the amount you will pay before the insurance company reimburses you for a loss

Answer 17

deductible

Question 18

protects against a number of hazards (customer injured in store) (customer injured by your product)

Answer 18

general liability insurance

Question 19

how you move specific customers to buy from you

Answer 19

selling

Question 20

to protect your vehicle, your employees while driving for the business & anyone who might be injured in an accident involving your employees and vehicles

Answer 20

commercial vehicle insurance

Question 21

the same basic rule that should guide all human behavior; act towards your stakeholders as your hope they would act towards you.

Answer 21

business ethics

Question 22

to protect a service business from any malpractice errors they make

Answer 22

errors and omissions insurance

Question 23

how many steps are required to launch a small business

Answer 23

9

Question 24

What is the name of the website that all businesses must register with in the state of Louisiana?

Answer 24

GeauxBiz portal

Question 25

name one type of accounting software

Answer 25

quickbooks