Multiple-answer format

Identify the correct statements about bootstrapping.

	a.	can be an excellent solution for those who want to stay in complete control and have full ownership of their company
	b.	cannot include using charge cards
	c.	means you grow your business relying on your own financial resources without getting money from investors
	d.	involves raising money from investors
	e.	is an excellent solution for entrepreneurs who want to grow their business very fast

When considering a product partnership, which key questions should you ask?

	a.	Is the potential partner's product distinct enough to not compete with me, and can the partner help grow my business?
	b.	Does the potential partner share my vision, and can the partner provide funding for my business?
	c.	Does the potential partner share the same audience, and can the partner help grow my business?
	d.	Is the potential partner well-funded, and can the partner provide me with business connections?

If you are trying to grow your business through bootstrapping, _____________________.

identify the correct statement

	a.	You can bootstrap your business by taking VC money as long as the VC shares your vision for the business
	b.	You can still take outside money by selling some of the business shares to outside investors
	c.	You should not take cash out of business except for what you need to pay your bills
	d.	You cannot use charge cards to grow your business

You are considering seeking funding from friends and family for your startup business. What best practice should you follow?

	a.	Understand that they do not need to be kept in the communication loop early on in the investment.
	b.	Avoid upsetting your friends and family with worst-case scenarios.
	c.	Rely on verbal commitments to avoid upsetting friends and family.
	d.	Be clear about your expectations regarding the likelihood that you will be successful.

Multiple answer format

According to Kim Kaupe, thinking ahead what could go wrong and creating a contingency plan for solving these potential problems -----------------------------------------------.

Select the correct statements:

	a.	would make an entrepreneur less willing to take risks and stifle business growth
	b.	would bring peace of mind to an entrepreneur, and peace of mind is something every entrepreneur needs
	c.	would make an entrepreneur feel better about moving forward because they would feel more prepared to tackle the challenges if things do not go as planned
	d.	is not something an entrepreneur should worry about

Multiple answer format

Identify correct statements about venture capital funding:

	a.	VCs want to make their money on their investment, and they're going to do whatever it takes to make that happen, even if it's not your vision
	b.	VCs may have a great eye for what businesses will need to grow
	c.	You can bootstrap your business by taking VC money
	d.	The more money you take from VCs, the more ownership shares you give up, which lessens your control.

There are a number of myths about venture capital. What is actually true about venture capital and venture capitalists?

	a.	Venture capitalists invest because they believe in the startup company's vision
	b.	Venture capitalists provide both money and advice to a startup business
	c.	Venture capital guarantees success for a startup business
	d.	Venture capitalists are celebrities or well-known individuals, such as Mark Zuckerberg of Facebook

Which type of financing product provides you with an unlimited credit line as long as the balance is paid within 30 days?

	a.	debit cards
	b.	charge cards
	c.	mutual funds
	d.	credit cards

Who is the ideal partner to bring into your new business?

	a.	someone who has strengths where you have weaknesses
	b.	someone with the same skill set as yours
	c.	someone with a different vision than yours
	d.	someone who has experience in your industry, but has a different vision than yours

You implemented a marketing strategy for a product that ended up being costly because customers were not buying it. Which approach would have helped you avoid this situation?

	a.	assessing the costs of implementation
	b.	sticking to your plan for a longer period of time
	c.	being flexible in the early stages of a marketing plan
	d.	committing more resources to the marketing plan