Here's A Quiz About Starting A Business!

Let's see what you know about starting a business!

Rules: Select the answer that you feel best represents the answer to the question. Then write down the number within the parentheses () on a separate piece of paper.

Question #1) What kind of question does someone ask about starting a business?

• I want to start a business but don't know how (1)
• I want to start a business, but have no ideas (2)
• What are the requirements to start a business (3)
• All of the above (4)

Question #2) What should you know before you start a business?

• How to build a proforma accounting package (2)
• What you want to sell (4)
• How tall is the Empire State Building in New York City (1)
• Where the Assumed business names are recorded (3)

Question #3) What is the primary purpose of a feasibility study?

• Is my truck an asset for my business (3)
• How many employees will I need (2)
• Will this idea make any money (4)
• What time should I get started on my business (1)

Question #4) What part of the startup should I expect to question the location?

• In the feasibility study (4)
• In the business plan (3)
• When setting up the business structure (1)
• When determining the business name (2)

Question #5) Who would I expect to be among my silent partners?

• My attorney and my CPA (4)
• My insurance agents and the wacko lady down the street (2)
• My neighbors' brother and his uncle (1)
• My banker and my best friend (3)

Question #6) Who should I ask about my business structure?

• My attorney and my banker (3)
• My attorney and my CPA (4)
• My life and liability insurance agents (1)
• My banker and my business consultant (2)

Question #7) Which startup document could be considered my roadmap?

• Your recipe for bread pudding (1)
• Feasibility study (3)
• What you plan to sell (2)
• Business plan (4)

Question #8) Which startup document could be considered my strategy plan?

• Your car insurance package (1)
• Feasibility study (4)
• What you plan to sell (2)
• Business plan (3)

Question #9) Which startup document could be considered my implementation plan?

• My feasibility study (3)
• My business plan (4)
• My business structure (2)
• My rich uncles' business accont (1)

Question #10) When should I update my startup documents?

• Whenever your neighbor suggests it (2)
• When you feel the need (3)
• Never (1)
• As often as necessary, review at least annually (4)

Total up your score and compare it to the following:

10 - 19 -- You don't know much about your startup processes

20 - 29 -- You know something about your startup processes

30 - 39 -- You know a whole lot about your startup processes

40 -- You should be the instructor/coach for business startups

If you are interested in learning more, go here.