Is Your Business a Hobby, Job or a Profitable Enterprise? (Quiz)

Is my business a hobby, job, or a profitable enterprise? Yes, I have 10 lead sources for my business. True False Yes, I have defined 10 ways in which my business is unique? True False Yes, I know what a break-even point is and how it impacts my business? True False Yes, I know my conversion rate and how it impacts my business. True False Yes, I can communicate what my business does and its value proposition with 30 seconds. True False Yes, I know the key performance indicators and spend at least one hour reviewing them. True False Yes, I have consistently increased my profits by 10% annually. True False Yes, I have five strategies that I am currently using to reduce my expenses. True False Yes, I have consistently reduced my total expenses by at least two to five percent annually. True False My business maximum utilization rate is consistently 80-90%. True False The failure rates for all new businesses after five years is: 50% 80% 25% 10% I know where my business ranks in the survey of Safest and Riskiest Businesses on BizStats.com. True False I have five strategies to improve my conversion rate. True False I have five strategies to increase my average dollar price and number of transactions. True False My advisory team consists of a coach, a banker, a personal financial planner, an accountant, an attorney, an administrative assistant, and a technology/public relations expert. True False The steps to entrepreneurial success are: Freedom, expand the business, developing your team, and create systems Create systems, develop a team, create a niche, and expand business Create a niche, create systems, develop a team, profitability Profitability, create a niche, create systems, develop a team, expand business, and freedom None of the above My employee are: An asset A Liability A necessary expense A great tax deduction None of the above All of the above All of my routine operations are documented and in writing. True False Yes, I test and measure all my advertising efforts. True False Yes, I can take a week long vacation without contacting my company. True False Yes, my business would survive and continue to prosper if I became disabled or died prematurely. True False Yes, I know the value of my business and what it would sell for today. True False Yes, I work over 60-70 hours per week. True False All my employees know the company’s vision and mission. True False Please select one of the following statements. I work on my business. I work in my business. I consider my work a hobby that I enjoy. I consider by business a well paying job. Yes, I have five to ten sources of revenue for my business. True False For more information, contact Kenneth Brown at 678.520.8040 or via e-mail at Ken@E3CLink.com Page 2 of 2 Biz Quiz 1: Hobby, Job, or… E3Capital Resources, LLC Business and Human Capital Development For more information, contact Kenneth Brown at 678.520.8040 or via e-mail at Ken@E3CLink.com Page 1 of 2