01-02 Differentiate
between small
businesses and
high-growth
ventures.
47.
Award: 1.00 point
48.
Award: 1.00 point
________ tend to level off after success defined by sales of between $100,000 and $1,000,000,
depending on the industry.
Lifestyle firms
Traditional small businesses
High-performing small businesses
High-growth ventures
High-performing small businesses tend to level off after success defined by sales of between
$100,000 and $1,000,000, depending on the industry.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
Which of the following is true of a high-performing small business?
It often grows through multiple locations.
It aims to achieve growth rates of 25 percent or more a year.
It has sales of more than $1 million.
It has low levels of professionalization.
High-performing small businesses often grow through multiple locations.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
49.
Award: 1.00 point
At the tip of the high-growth ventures are firms called ________, like Uber and AirBnB with
valuations of $1 billion or more.
green entrepreneurs
main street businesses
unicorns
necessity-driven entrepreneurs
Uber and AirBnB are examples of unicorns.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
50.
Award: 1.00 point
51.
Award: 1.00 point
Lifestyle firms, traditional small businesses, and high-performing small businesses are often called
main street businesses.
Wall Street businesses.
high-growth ventures.
universal businesses.
95 percent of businesses outside of the high-growth sector are what are often called main street
businesses and include the lifestyle firms, the traditional small businesses, and the high-performing
small businesses.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
Which of the following is a reward universally mentioned by entrepreneurs?
peer admiration
personal growth
political power
industry recognition
Nearly all entrepreneurs talk about three key rewards—flexibility, a livable income, and personal
growth.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
52.
Award: 1.00 point
53.
Award: 1.00 point
________ is a reward universally mentioned by entrepreneurs.
Industry recognition
Peer admiration
Political power
Work flexibility
Nearly all entrepreneurs talk about three key rewards—flexibility, a livable income, and personal
growth.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
Which of the following is a reward that is rarely mentioned by entrepreneurs?
to have a chance to build great wealth
to have greater flexibility for personal and family life
to continue a family tradition
to develop an idea for a product
There are rewards that entrepreneurs mention less often than working people in general. These are
social rewards, like the respect or admiration of others, or power over others, and family rewards,
like continuing a family tradition in business.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
54.
Award: 1.00 point
55.
Award: 1.00 point
________ rewards are those which people get from facing and beating or learning from challenges.
Recognition
Flexibility
Income
Growth
The three most popular types of rewards for small business owners are growth, flexibility, and
income. Growth rewards are what people get from facing and beating or learning from challenges.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
Which of the following rewards refer to the money made from owning a business?
growth rewards
flexibility rewards
income rewards
performance rewards
Income rewards refer to the money made from owning a business. For more than three-quarters of