Tweet

Quiz For Small Business Success

Written by: Manage Your Business

Article Overview: We at Small Business Success Magazine conducted a survey of more than 100 California business owners. Their comments about small business success guided us in creating the following quiz. Choose the answer you think is best for each question. Use the sheet at the end to determine your total point score and then see where you stand in the Success Quotient Ratings. There are no "wrong" answers. Each answer listed represents a segment of the responses we had to questions in our survey--and the final rankings correspond with the importance successful owners gave to different answers.

Quiz For Small Business Success

Questions 1 - 5

1. What is the key to business success:

a business knowledge
b.market awareness
c.hands on management
d.sufficient capital
e.hard work

2. If a relative ever asks me for advice about starting a business I will
tell them to:

a.work for someone else in the field first
b.write a business plan
c.study marketing
d.give up the idea
e.learn about budgeting

3. Which is the largest potential trouble spot:

a.too much growth
b.too little growth
c.too fast growth
d.too slow growth
e.sporadic growth

4. I trust: (select as many as apply)

a.nobody
b.myself
c.my partner
d.a few key employees
e.my customers

5. I am unhappy when my employees are:

a.late
b.unhappy
c.abrupt with customers
d.resigning
e.less dedicated than me

Questions 6 - 10

6. My customers are: (select as many as apply)

a.always right
b.too fussy
c.demanding
d.worth listening to
e.dumb

7. Rank these in order of importance for small-business marketing success:

a.word-of-mouth
b.advertising
c.signs
d.location
e.community events

8. When it comes to money I am:

a.careful
b.too carefree
c.emotional
d.shrewd
e.hardnosed

9. Financially my firm:

a.has trouble with cash-flow
b.has a good line of credit
c.is financed totally by receipt--no credit
d.is making better profits this year than last
e.knows exactly where it is all the time

10. In hiring people:

a.I take far too long
b.I look for the cheapest person
c.personality is more important than experience
d.I look for the best person, and am willing to pay
e.I only hire at the trainee level

Questions 11 - 15

11. With my employees:

a. I treat everybody the same
b. I try to talk privately to everybody once a week
c. To whatever extent possible I tailor assignments to personalities
d. I encourage them to talk to me about the business
e. I try to work alongside them whenever possible

12. The real key to business success is:

a. hard work and perseverance
b. fine products and service
c. advertising
d. knowing the fundamentals of business
e. employees

13. Competition is:

a. dumb
b. smart
c. cunning
d. everywhere
e. a constant threat

14. The best competitive advantage is:

a. experience
b. understanding what the market wants
c. confidence
d. conducting a business ethically
e. a detailed plan

15. I keep:

a. careful financial records
b. in touch with my customers
c. in touch with my employees
d. trying new techniques
e. wanting to retire

Questions 16 - 20

16. My dream is:

a.to grow the business until someone else can run it
b.to work until I drop
c.to give up these headaches and have more fun at work
d.to try another business
e.to take a vacation

17. I think business plans are:

a.for the birds
b.nice but not necessary
c.something I can do with my accountant
d.useful and informative
e.essential--wouldn't do business without them

18. What makes a terrific entrepreneur?

a.creativity
b.discipline
c.consumer orientation
d.technical proficiency
e.flexibility


19. What does a business need most?

a.money
b.market research
c.help
d.time
e.a solid business plan

20. What is essential to marketing?

a."a sixth sense"
b.market research
c.customer awareness
d.experience
e.testing

Quiz Results

Find each question in the scoring box.Write the score for the answer you selected in the margin next to every question,(If you didn't select the highest scoring choice, take a look at that one and try and figure out why it scored so well.)When you've worked through the entire quiz, go back and add up your points.Then compare your total with the Success Quotient table to see how you compare with some of California's most successful business people.

Score Box

Question Points

1. a = 5, b = 4, c = 3, d = 2, e = 1
2. a = 5, e = 4, b = 3, c = 2, d = 1
3. c = 5, a = 4, b = 3, d = 2, e = 1
4. b = 5, e = 4, d = 3, c = 2, a = 1
5. b = 5, d = 4, c = 3, a = 2, e = 1
6. d = 5, c = 4, a = 3, b = 2, e = 1
7. a = 5, d = 4, c = 3, b = 2, e = 1
8. a = 5, d = 4, e = 3, b = 2, c = 1
9. e = 5, d = 4, b = 3, a = 2, c = 1
10. d = 5, a = 4, c = 3, b = 2, e = 1
11. c = 5, d = 4, e = 3, b = 2, a = 1
12. e = 5, d = 4, a = 3, b = 2, c = 1
13. e = 5, d = 4, c = 3, b = 2, a = 1
14. a = 5, b = 4, c = 3, e = 2, d = 1
15. b = 5, a = 4, c = 3, d = 2, e = 1
16. e = 5, a = 4, b = 3, c = 2, d = 1
17. e = 5, d = 4, c = 3, b = 2, a = 1
18. c = 5, a = 4, b = 3, e = 2, d = 1
19. b = 5, e = 4, a = 3, d = 2, c = 1
20. c = 5, b = 4, e = 3, d = 2, a = 1

Score Your Business Success Quotient

75-100 You are a successful entrepreneur whose operations reflect tried and true
business practices.

50-74 Your business is probably headed for long-term success. But success will come
sooner if you sharpen your awareness of solid management skills and marketing
techniques.

25-49 While you may be enjoying customer loyalty and repeat business, never forget
that savvy competition is always looking for ways to take the lead. Don't let
comfort lull you into false security. Be creatively assertive!

0-24 You may well have the right product. But to sell it successfully, you need to
increase your market awareness and improve your operating philosophy. Reach
out for practical classes, seminars and advice from people who have good
business track records. And - keep prersevering. It's the key ingredient to
winning!

Related Articles
  Liven up eLearning course to engage learners with funny quiz
  E-assessment is More Than Test Creation
  How to Choose the Right Online Quiz Software
  Making Multiple Choice Quizzes Efficiently with Quiz Makers
  Six Traits Needed for Self Employment

Article Tags:



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
These maybe the coldest franchises out there: - Here are the worst 15 performing franchises in regards to having the highest Small Business Administration (SBA) loan failure rates. The list is dotted with sub sandwich shops, fitness centers and car shops. WORST FRANCHISE LOAN FAILURES Failure % 1 OBEE'S SOUP SALAD SUBS 55.56% 2 LADY OF AMERICA 41.94% 3 COUNTRY CLUTTER (BED & BREAKFAST) 41.18% 4 COPY CLUB 36.36% 5 ALL TUNE AND LUBE 35.71% 6 PICKERMAN'S 35.71% 7 PHILLY CONNECTION 35.59% 8 ROLY POLY ROLLED SANDWICHES 34.78% 9 COTTMAN TRANSMISSION 34.48% 10 HAIR COLOR EXPRESS 33.33% 11 LEE MYLES AUTOMOTIVE TRANSMISSIONS 33.33% 12 GODFATHER'S PIZZA 33.33% 13 SMOOTHIE FACTORY 33.33% 14 BLIMPIE 31.39% 15 GOLF U.S.A. (RETAIL GOLF EQUIP.) 30.77% Source: Small Business Administration, SBA Loan Performance Within Franchise Code for the Period of FY 2001 - 2005
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: Biz Plan Competition - i just wanted to say that posting Small Business Events on CanadaOne is a great resource. Thanks Julie!
New Small Business Topic - Hello everyone, I'm on the lookout for new topics to add to my site. We just launched a Franchising section and are planning Human Resources section. Do you have any thoughts for a new section? Here's a list of what we currently have: Angel Investors Branding Bank Loans Business Coaching Business Plan Franchises (New) Insurance Legal Marketing Public Relations Sales Small Biz Loans Venture Capital


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Angel Investors Where Are You?

Providing Feedback

Common Sense Stress Management

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.