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Exam 6: Building the Founding Team

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Question 41

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Which of the following should an entrepreneur do when creating a venture?

A) Expropriate her current employer's intellectual property
B) Use her employer's resources for the new venture
C) Notify her current employer about the intention to create a new venture
D) Spend all her time working for the new venture
E) Live off her savings

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Question 42

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Fast, dramatic growth can be a mistake for a business.

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Question 43

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A business superstar is unlikely to possess all the business skills needed for long term success.

How much, according toDeloitte & Touche, do restaurants generate in net income before taxes on average, approximately?

According to a study by Babson College and London Business School, businesses with growth aspirations plan on employing more than 20 people within the next:

Your team members can help you to evaluate feedback from outside sources.

Startups should negotiate employee salaries below market levels.

What are some of the methods used to identify an entrepreneur's strengths and weaknesses?

You may find an angel investor who will guide you at the early stages of your venture.

What are some indicators of the right co-founders and team members for your start-up?

Stock appreciation rights of employees accrue only if:

Hiring a salesperson is more attractive than increasing support staff in regards to revenue generated.

Analysis of your resume will help you decide what other team members your firm needs.

Describe what a sample staffing plan might look like.