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About Plan a Successful Freelancing Business Course
The first course in the Building Your Freelancing Career specialization is geared toward independent contractors who are interested in defining and establishing their guiding principles, core values, and long-term professional objectives for their future businesses.
The coursework will help students determine what their distinctive value is and how that relates to the various business strategies that are available, as well as discuss the significance of knowing their competitors and where they stand in the market in a dynamic and competitive business environment.
If you are a CalArtian and you do not receive a notice that says “Sponsored by CalArts” when you enroll, you are strongly encouraged to access this course and the specialty by joining through the Coursera for CalArts program, which is referenced in the course/specialization FAQ.
Course Apply Link – Plan a Successful Freelancing Business
Plan a Successful Freelancing Business Quiz Answers
Week 01 Quiz Answers
Are you a freelancer?
Q1. Do you tend to exhibit the common characteristics of an entrepreneur?
Think back to your childhood and work history and select any of the following statements that you think apply to you.
This is purely a useful self-assessment and will not impact your results in this course. There are no right or wrong answers, nor strong requirements to be a successful entrepreneur.
- I have sold or invented things
- I enjoy variety
- I have multiple talents and interests
- I am an unconventional thinker
- I march to my own beat
- I believe I am a leader
- I know how to implement a plan and take action
- I feel happier working solo
- I enjoy novelty
Preparing to be a Freelancer
Q1. What are some of the benefits of being a freelancer? Select all that apply.
- Steady paycheck
- Retirement plan
- Job security
Q2. What does it mean to have the skill of “agency” within the context of freelancing?
- Channeling your creativity to create something special
- Hiring a company that handles work for other companies
- Having a broader set of business skills than you would need in a traditional job
- Staying self-motivated and taking responsibility
Q3. Which of the following people could be described as a “freelancer”? Select all that apply.
- A worker hired by other people or businesses to work on a contract basis
- An owner of a business with one other team member – the owner
- A person with a steady job that provides employment benefits
- A type of entrepreneur or someone who starts and runs a business for themselves
Q4. What is one of the basic needs of freelancing? Select all that apply.
- Repeatable system for attracting, converting and keeping clients happy
- Lack of certainty
- Unlimited supply of coffee and snacks from your kitchen
- Access to investment capital
Q5. As a freelancer, what do you need to prepare in case you need to take a vacation, get sick or need to take a leave of absence? Select all that apply.
- A really good mentor
- Back up plans
- A packed suitcase
- Your laptop and phone
Q6. Which of the following types of people can be great freelancers? Select all that apply.
- Creative people
- People with higher degrees or trade certifications
- Organized people
- Disorganized people
Q7. Why is developing a profile or persona of your perfect customer helpful in setting up your business? Select all that apply.
- It helps you pay the bills
- It helps you try harder
- It keeps you motivated
- It helps you focus
Designing Your Dream Business
Q1. Imagine that you are working as a marketing manager for a hospital and you need to hire a person to assist you temporarily with your marketing duties.
Which of the following people would be the best choice for this position?
- A retired nurse
- A medical writer with a graphic design degree recommended by your counterpart at another hospital
- A highly rated freelancer on a job site like Fiverr or Upwork
- An up-and-coming photographer who has become well-known for their newborn and childbirth photos in the delivery ward
Q2. In freelancing, should you generalize or specialize if you want to achieve stronger business results?
Q3. How valuable are your business ideas?
- Not valuable
- Somewhat Valuable
- Very Valuable
Q4. Which of the following activities should you do in order to get your business started?
Select all that apply.
- Set intentions or goals
- Secure bank financing
- Perform a situation analysis
- Take action
- Generate Ideas
- Set an annual plan
Q5. Which of the following items are considered assets? Select all that apply.
- Bank account
- Airplane Tickets
Q6. Jameel likes to stay busy and in control of all of the aspects of his business. Lately, he has had a lot more clients to deal with than he has the time to do the work, the billing and prospecting for future clients.
Which of the following actions should he take to fix his problem?
Select all that apply.
Q7. What can you do to overcome the fear of failure? Select all that apply.
- Ignore your fears
- Realize that failure is a temporary situation and it is not fatal
- Understand that there can be many different ways to solve a problem
- Unlink your identity from your occupation
Developing a Service
Q1. When performing a market analysis, which of the following details should you discover about any potential buyers for your service? Select all that apply.
- Where they are located
- Who they are
- How many they are
- How they should be reached
Q2. Which of the following actions might you do if you were performing a market analysis?
- Calculate a growth rate for your service’s industry
- Scan the mall or grocery store for good ideas
- Search the internet for similar companies
Q3. SWOT is a tool used to perform what kind of analysis?
- Competitor analysis
- Solution analysis
- Developer analysis
- User analysis
- Market analysis
Q4. Which are some of the major steps involved with planning a successful freelancing service? Select all that apply.
- Designing your solution
- Defining your business problem
- Contacting potential customers through direct messaging
- Signing a lease for office space
- Analyzing competitors
- Starting a social media account
- Making business cards
- Sizing the market for your business
Q5. Jane is interested in developing a solution for hairstylists. Since she has been a hairstylist herself, she knows a lot about the business and the problems they have.
Imagine you are Jane. Which of the following tasks do you think a hairstylist would want to pay a freelancer to do for them so that they could focus on their business? Select all that apply.
- Ordering supplies
- Learning new hairstyles
- Scheduling appointments
- Handling cancellations
- Billing clients
- Sweeping floors
Q6. Casey found one of her grandma’s old books on macrame. Now, she loves to make cute plant holders using the tutorials she read in the book. One of her friends saw these cute plant holders and suggested that other people might like to buy them. Casey isn’t sure about this idea, but wants to look into the idea of creating a business out of her craft.
What should Casey do?
- Make 10,000 units before starting her online store
- Identify websites where similar craft goods are sold and inquire if they accept items from new vendors
- Identify stores that sell similar goods and inquire if they accept items from new vendors
- Check out the prices and quality of similar goods
Elements of a Business Plan
Q1. Which conceptual comparison is similar to creating a business plan for a business?
- An architect drafting a blueprint for a house
- A gold miner panning for gold
- The bond between a horse and its rider
- A gardener harvesting vegetables
Q2. Which of the following items should be included in a simple business plan for a freelancing business? Select all that apply.
- Market Analysis
- Service or Product Line
- Funding Request
- Marketing and Sales
Q3. What is meant by the phrase “land and expand”?
- Travel a lot to expand your worldview
- Formalize the business practices that are working
- Work with people within 10-30 miles of your home
- Get paid for renting out your property
Q4. In the United States, where can you learn more about the strategies and business practices of big companies in your industry directly from the companies’ executives?
- News Reports
- Social Media
- 10K Reports
Q5. Which are some common issues with business plans? Choose all that apply.
- Industry jargon and acronyms that many people won’t understand
- A mismatch between the business owner’s experience and the business type
- Confusing business description
- Unclear who the customer is and whether they will pay for the solution
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