Christian Business - Small Business Success Quiz

Small Business Success Quiz

Thursday, October 31st, 2024

What is the key to business success:
business knowledge
market awareness
hands on management
sufficient capital
hard work

If a relative ever asks me for advice about starting a business I will tell them to:
work for someone else in the field first
write a business plan
study marketing
give up the idea
learn about budgeting

Which is the largest potential trouble spot:
too much growth
too little growth
too fast growth
too slow growth
sporadic growth

I trust:
nobody
myself
my partner
a few key employees
my customers

I am unhappy when my employees are:
late
unhappy
abrupt with customers
resigning
less dedicated than me

My customers are:
always right
too fussy
demanding
worth listening to
dumb

The most important tool for small-business marketing success:
word-of-mouth
advertising
signs
location
community events

When it comes to money I am:
careful
too carefree
emotional
shrewd
hardnosed

Financially my firm:
has trouble with cash-flow
has a good line of credit
is financed totally by receipt--no credit
is making better profits this year than last
knows exactly where it is all the time

In hiring people:
I take far too long
I look for the cheapest person
personality is more important than experience
I look for the best person, and am willing to pay
I only hire at the trainee level

With my employees:
I treat everybody the same
I try to talk privately to everybody once a week
To whatever extent possible I tailor assignments to personalities
I encourage them to talk to me about the business
I try to work alongside them whenever possible

The real key to business success is:
hard work and perseverance
fine products and service
advertising
knowing the fundamentals of business
employees

Competition is:
dumb
smart
cunning
everywhere
a constant threat

The best competitive advantage is:
experience
understanding what the market wants
confidence
conducting a business ethically
a detailed plan

I keep: (most important to you)
careful financial records
in touch with my customers
in touch with my employees
trying new techniques
wanting to retire

My dream is:
to grow the business until someone else can run it
to work until I drop
to give up these headaches and have more fun at work
to try another business
to take a vacation

I think business plans are:
for the birds
nice but not necessary
something I can do with my accountant
useful and informative
essential--wouldn't do business without them

What makes a terrific entrepreneur?
creativity
discipline
consumer orientation
technical proficiency
flexibility

What does a business need most?
money
market research
help
time
a solid business plan

What is essential to marketing?
"a sixth sense"
market research
customer awareness
experience
testing

Reprinted from the United States Small Business Administration

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