What Is The Secret? By Steph Bester: 1 December 2014 - Fdp 19/A2

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What Is The Secret? By Steph Bester: 1 December 2014 - Fdp 19/A2 - Quiz

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Questions and Answers
  • 1. 

     What is the secret that would allow the business to keep operating for several years without generating any new revenue?

    • A.

      The System.

    • B.

      It is an annuity based business.

    • C.

      The company values.

    • D.

      The skilled people who work there.

    Correct Answer
    B. It is an annuity based business.
    Explanation
    The correct answer is "It is an annuity based business." An annuity is a financial product that provides a fixed sum of money at regular intervals, typically annually. In the context of a business, an annuity-based business refers to a business model where the company earns a steady stream of income from existing customers or clients over an extended period of time, without relying on generating new revenue. This could be through long-term contracts, subscription-based services, or recurring payments. Therefore, the business can continue operating for several years without needing to generate any new revenue because it already has a reliable source of income from its existing customer base.

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  • 2. 

    An annuity based business means you only have to sell the product to a customer once. True or False.  

    • A.

      True.

    • B.

      False.

    Correct Answer
    A. True.
    Explanation
    An annuity-based business refers to a business model where a product is sold to a customer once, and then the customer continues to make regular payments or contributions over a specified period of time. This allows for a steady stream of income for the business without the need for continuous sales efforts. Therefore, the statement that an annuity-based business means you only have to sell the product to a customer once is true.

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  • 3. 

    Steph speaks about basics to help you build a big book. What are these? Choose the correct answer below:

    • A.

      Get yourself to achieve Ownership.

    • B.

      Focus on promoting other owners.

    • C.

      Product plays an important role in retaining customers.

    • D.

      A happy customer is a staying customer who will continue to be a paying customer.

    • E.

      All of the above.

    Correct Answer
    E. All of the above.
    Explanation
    Steph speaks about the basics of building a big book, which include achieving ownership, promoting other owners, emphasizing the importance of the product in customer retention, and understanding that a happy customer is more likely to continue being a paying customer. Therefore, the correct answer is "All of the above."

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  • 4. 

    The opportunity this business offers to any South African is to build a business that has the ability to generate an incredible amount of recurring income for themselves, even after effort they have put in years before. True or False. 

    • A.

      True.

    • B.

      False.

    Correct Answer
    A. True.
    Explanation
    This statement suggests that the business opportunity being discussed has the potential to generate a significant amount of recurring income for South Africans. This means that individuals can continue to earn money from their business even after they have put in effort and work for several years. The answer is true because it confirms that the business offers this opportunity.

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  • 5. 

    Which one do you like?

    • A.

      Option 1

    • B.

      Option 2

    • C.

      Option 3

    • D.

      Option 4

    Correct Answer
    A. Option 1
    Explanation
    The given question asks for a preference between four options. The answer states that the preferred option is Option 1.

    Rate this question:

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  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 01, 2014
    Quiz Created by
    FDPsurvey
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