Answer the following statements true (T) or false (F)
1. When surveyed, most entrepreneurs reported that they started businesses that offered products or services that already existed and that were on par with existing offerings.
2. An elevator pitch should be between 10 and 15 minutes long.
3. Most entrepreneurs tend to overestimate the startup cost and operating expenses of their new business.
4. Equity funding for a new business must eventually be repaid to the investor.
1. False
2. False
3. False
4. False
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Which of the following statements is true of the North American Industry Classification System (NAICS)?
A. It was developed by the Federal Trade Commission (FTC). B. It is a classification system developed by the United States. C. It uses an eight-digit classification system. D. It is limited in its use to only manufacturing companies. E. It was created to collect data on North America's business activity.
What can you learn from John Smith from the sales report reflected in the table?
What will be an ideal response?
How does marketing through online social networks differ from more traditional marketing?
What will be an ideal response?
A simulation model is used to test the impact of the number of sample customers at a supermarket
As the model is run, the decision maker watches the average number of customers in the store rapidly increase from zero until it levels off and holds a constant value. The simulation model is: A) not valid due to the lack of change. B) in steady state. C) not valid due to the fluctuation in the statistics. D) a random variable.