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Entrepreneurship Counseling Flashcards

7 cards from real CCC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Entrepreneurship Counseling flashcards as text

  1. A client wants to start a business but has no idea whether customers will pay for the product. What is the most appropriate first step a career counselor should suggest?

    Answer: Validate the idea through customer interviews or a small market test

    Testing demand cheaply before investing money lowers the risk of building something nobody wants.

  2. Which free, SBA-supported resource pairs aspiring entrepreneurs with volunteer business mentors, many of them retired executives?

    Answer: SCORE

    SCORE is an SBA resource partner that offers free mentoring from volunteer business experts.

  3. A client scores high on risk tolerance but low on self-discipline on an entrepreneurial assessment. What should the counselor do next?

    Answer: Discuss strategies such as accountability partners or structured routines to make up for the gap

    Counselors use assessment results to build development plans, not to make final pass/fail judgments.

  4. Which business structure gives owners limited personal liability while letting profits pass through to their personal tax returns by default?

    Answer: Limited liability company (LLC)

    An LLC protects personal assets and is taxed as a pass-through entity by default.

  5. A client is employed full-time and wants to try out a business idea with little financial risk. Which approach fits best?

    Answer: Start the business as a side hustle while staying employed

    Testing an idea part-time keeps the client's income steady while gathering real market evidence.

  6. In a business plan, what does the 'executive summary' mainly do?

    Answer: Gives a short overview of the business concept, market, and financial highlights

    The executive summary condenses the whole plan so readers quickly see the opportunity.

  7. From a career development point of view, which client statement best signals push-factor motivation toward self-employment?

    Answer: "I was laid off and can't find another job in my field."

    Push factors are outside pressures, such as job loss, that drive people into self-employment, as opposed to pull factors like opportunity.