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Mini-Quiz: Basic Steps in Starting a Business

by Ron Kurtus (revised 20 November 2011)

Take this Mini-Quiz to check your understanding of the lesson material.

1. How do entrepreneurs often get business ideas?

Many hire idea brokers to do the creative work

An idea is stimulated from events of interest the person sees or hears

They steal ideas from other entrepreneurs

2. Is a formal business plan really needed?

It is often needed when trying to get outside funding

It is a Federal requirement for anyone starting a business

It is only advised for people who don't know what they are doing

3. Why is funding needed to start a business?

You really don't need funding if you don't have a business plan

Funding is needed to provide you with a big paycheck before things are sold

You have to pay for goods and services before you can sell them

If you got all three correct, you are on your way to becoming a Champion in Business. If you had problems, you had better look over the material again.

Be an original

Resources and references

Ron Kurtus' Credentials

The following are resources on this subject:


Steps to Start a Business - From Entrepreneur Magazine

Starting a Business Categories - Startup resources from

Business Resources


Top-rated books on Business

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