Mini-Quiz: Basic Steps in Starting a Business

1. How do entrepreneurs often get business ideas?

   Many hire idea brokers to do the creative workGood try, but not right. Select another answer. An idea is stimulated from events of interest the person sees or hearsThat is correct. You know how to start a business. They steal ideas from other entrepreneursSorry, not correct. Try another button.

2. Is a formal business plan really needed?

   It is often needed when trying to get outside fundingCorrect. You have what it takes. It is a Federal requirement for anyone starting a businessOops! Wrong answer. Re-read the question and try again. It is only advised for people who don't know what they are doingSorry, not correct. Try another button.

3. Why is funding needed to start a business?

   You really don't need funding if you don't have a business planOops! Wrong answer. Re-read the question and try again. Funding is needed to provide you with a big paycheck before things are soldGood try, but not right. Select another answer. You have to pay for goods and services before you can sell themThat is correct. You know how to start a business.

Pick an answer to see instant feedback. Re-read the lesson if you miss one.