Question 1

The feasibility study helps determine whether the idea is a "go" or "no go." ______

Accepted Answer

A) True 
 B)False

Question 2

Describe why you do or do not believe that writing a business plan would be important to your business success.

Accepted Answer

It will help clarify the elements of the

Question 3

A business plan must be thought of as a work in progress because nothing goes according to plan.

Accepted Answer

A) True 
 B)False

Question 4

Experts today are unanimous: the business plan is a critical first step for a successful entrepreneur.

Accepted Answer

A) True 
 B)False

Question 5

What important fact did the founders of Blue River Technology find out during the feasibility study?

Accepted Answer

A) The target market did not thinking their solution was viable. 
B) The manufacturing plant could not make their product. 
C) The team members were exaggerating their skills. 
D) The product was too much. 
A) The target market did not thinking their solution was viable. 
B) The manufacturing plant could not make their product. 
C) The team members were exaggerating their skills. 
D) The product was too much.

Question 6

As compared to the Business Model Canvas,the business brief is much more visual but requires less detail.

Accepted Answer

A) True 
 B)False

Question 7

A feasibility study involves ______.

Accepted Answer

A) a 5-year plan to scale the business 
B) at least 15 pages of appendices for investors to examine 
C) action,testing,information gathering,and analysis 
D) the creation of detailed financial projections and cash flow analysis 
A) a 5-year plan to scale the business 
B) at least 15 pages of appendices for investors to examine 
C) action,testing,information gathering,and analysis 
D) the creation of detailed financial projections and cash flow analysis

Question 8

Killian decides that he needs a few days away from it all to think out his ideas.He takes up an offer from a friend to spend a few days in his mountain cabin.During this time,Killian imagines what his business will look like in 3 years.He pictures his customers using his product and coming into his facility.Killian is engaging in a practice called ______.

Accepted Answer

A) strategic planning 
B) Vivid Vision 
C) detailing 
D) Business Model Canvas 
A) strategic planning 
B) Vivid Vision 
C) detailing 
D) Business Model Canvas

Question 9

What is the traditional length of a business plan?

Accepted Answer

A) less than 5 pages 
B) 5-10 pages 
C) 20-40 pages 
D) over 40 pages 
A) less than 5 pages 
B) 5-10 pages 
C) 20-40 pages 
D) over 40 pages

Question 10

______ help(s)you get out of your head and see your idea for what it really is.

Accepted Answer

A) Plans 
B) Brainstorming sessions 
C) Surveys 
D) White-boarding 
A) Plans 
B) Brainstorming sessions 
C) Surveys 
D) White-boarding

Question 11

The purpose of the feasibility study is to provide a short-term plan for launching your business.

Accepted Answer

A) True 
 B)False

Question 12

What is the plan depicted on one page by filling in the nine blocks of the business model?

Accepted Answer

A) business brief 
B) outline 
C) Business Model Canvas 
D) back-of-the-napkin plan 
A) business brief 
B) outline 
C) Business Model Canvas 
D) back-of-the-napkin plan

Question 13

Why might an entrepreneur write a simple business plan only for themselves?

Accepted Answer

A) It's a good way to thinking about things they may not have thought about before. 
B) A full plan is useless. 
C) It saves time. 
D) They may be unfamiliar with other plan types. 
A) It's a good way to thinking about things they may not have thought about before. 
B) A full plan is useless. 
C) It saves time. 
D) They may be unfamiliar with other plan types.

Question 14

The authors advise writing a formal business plan before testing ideas in the real world.

Accepted Answer

A) True 
 B)False

Question 15

To produce a feasibility study,what action is needed?

Accepted Answer

A) documenting important parts of your business 
B) testing,information gathering,and analysis 
C) creating a well-defined financial forecast 
D) meeting with the founders who will agree on the plan of action 
A) documenting important parts of your business 
B) testing,information gathering,and analysis 
C) creating a well-defined financial forecast 
D) meeting with the founders who will agree on the plan of action

Question 16

A plan is a written description of the future you envision for your business,including what you plan to do and how you plan to do it.

Accepted Answer

A) True 
 B)False

Question 17

It can take up to ______ hours to write a comprehensive business plan.

Accepted Answer

A) 4 
B) 20 
C) 200 
D) 400 
A) 4 
B) 20 
C) 200 
D) 400

Question 18

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

Accepted Answer

A) pitch deck 
B) Business Model Canvas 
C) Vivid Vision 
D) feasibility study 
A) pitch deck 
B) Business Model Canvas 
C) Vivid Vision 
D) feasibility study

Question 19

In the order of entrepreneurial activities,business plans come ______.

Accepted Answer

A) at the onset of the business idea 
B) after idea generation,business model canvas,feasibility study,and pitch deck 
C) after the business model but before the feasibility study 
D) after the business model but before the pitch deck 
A) at the onset of the business idea 
B) after idea generation,business model canvas,feasibility study,and pitch deck 
C) after the business model but before the feasibility study 
D) after the business model but before the pitch deck

Question 20

Most feasibility studies are three pages or fewer.

Accepted Answer

A) True 
 B)False

The feasibility study helps determine whether the idea is a "go" or "no go." ______

Describe why you do or do not believe that writing a business plan would be important to your business success.

A business plan must be thought of as a work in progress because nothing goes according to plan.

Experts today are unanimous: the business plan is a critical first step for a successful entrepreneur.

What important fact did the founders of Blue River Technology find out during the feasibility study?

As compared to the Business Model Canvas,the business brief is much more visual but requires less detail.

A feasibility study involves ______.

What is the traditional length of a business plan?

______ help(s)you get out of your head and see your idea for what it really is.

The purpose of the feasibility study is to provide a short-term plan for launching your business.

What is the plan depicted on one page by filling in the nine blocks of the business model?

Why might an entrepreneur write a simple business plan only for themselves?

The authors advise writing a formal business plan before testing ideas in the real world.

To produce a feasibility study,what action is needed?

A plan is a written description of the future you envision for your business,including what you plan to do and how you plan to do it.

It can take up to ______ hours to write a comprehensive business plan.

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

In the order of entrepreneurial activities,business plans come ______.

Most feasibility studies are three pages or fewer.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Filters

Exam 10: Planning for Entrepreneurs

The feasibility study helps determine whether the idea is a "go" or "no go." ______

Describe why you do or do not believe that writing a business plan would be important to your business success.

A business plan must be thought of as a work in progress because nothing goes according to plan.

Experts today are unanimous: the business plan is a critical first step for a successful entrepreneur.

What important fact did the founders of Blue River Technology find out during the feasibility study?

As compared to the Business Model Canvas,the business brief is much more visual but requires less detail.

A feasibility study involves ______.

What is the traditional length of a business plan?

______ help(s)you get out of your head and see your idea for what it really is.

The purpose of the feasibility study is to provide a short-term plan for launching your business.

What is the plan depicted on one page by filling in the nine blocks of the business model?

Why might an entrepreneur write a simple business plan only for themselves?

The authors advise writing a formal business plan before testing ideas in the real world.

To produce a feasibility study,what action is needed?

A plan is a written description of the future you envision for your business,including what you plan to do and how you plan to do it.

It can take up to ______ hours to write a comprehensive business plan.

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

In the order of entrepreneurial activities,business plans come ______.

Most feasibility studies are three pages or fewer.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Filters