ENT 101 Exam Questions with Verified Correct
Answers
PHASES OF THE NISI PROCESS
Nail Pain
Nail Solution
Nail Go to Market Strategy
Nail Business Model
Scale it
TRADITIONAL PROCESS METHOD
Entrepreneur has Idea
Discuss with friends/Raise money
Find location
Build product
Test Product
Perfect it
Sell It
Myths of Entrepreneurship
The Process Myth
The Hero Myth
The Money Myth
THE PROCESS MYTH
IDEA, PRODUCT, TEAM, TEST, SELL
THE HERO MYTH
, •BELIEVING IN YOUR PRODUCT LEADS TO FAILURE
THE MONEY MYTH
YOU NEED TO HAVE A LARGE SUM OF MONEY TO GET STARTED.
REASONS WHY ENTREPRENEURS FAIL
•TACKLE WRONG TASKS
•DO THINGS IN WRONG ORDER
•FALL PREY TO OWN STRENGTHS
•FOLLOW CONVENTIONAL WISDOM
•MORE CAPITAL CAN INCREASE FAILURE
WHY DO 90% OF BUSINESSES FAIL
COULDN'T GET ANYONE TO BUY IT
CUSTOMERS __________, ENTREPRENEURS ____________________
•CUSTOMERS VALIDATE, ENTREPRENEURS INNOVATE.
THREE TYPES OF CUSTOMERS:
END-USER CUSTOMERS
TECHNICAL CUSTOMERS
ECONOMIC CUSTOMERS
ECONOMIC CUSTOMERS
THE PERSON WHO MAKES THE ULTIMATE PURCHASE DECISION.
TECHNICAL CUSTOMERS
IT PERSON WHO INSTALLS OR MAINTAINS THE PRODUCT.
Answers
PHASES OF THE NISI PROCESS
Nail Pain
Nail Solution
Nail Go to Market Strategy
Nail Business Model
Scale it
TRADITIONAL PROCESS METHOD
Entrepreneur has Idea
Discuss with friends/Raise money
Find location
Build product
Test Product
Perfect it
Sell It
Myths of Entrepreneurship
The Process Myth
The Hero Myth
The Money Myth
THE PROCESS MYTH
IDEA, PRODUCT, TEAM, TEST, SELL
THE HERO MYTH
, •BELIEVING IN YOUR PRODUCT LEADS TO FAILURE
THE MONEY MYTH
YOU NEED TO HAVE A LARGE SUM OF MONEY TO GET STARTED.
REASONS WHY ENTREPRENEURS FAIL
•TACKLE WRONG TASKS
•DO THINGS IN WRONG ORDER
•FALL PREY TO OWN STRENGTHS
•FOLLOW CONVENTIONAL WISDOM
•MORE CAPITAL CAN INCREASE FAILURE
WHY DO 90% OF BUSINESSES FAIL
COULDN'T GET ANYONE TO BUY IT
CUSTOMERS __________, ENTREPRENEURS ____________________
•CUSTOMERS VALIDATE, ENTREPRENEURS INNOVATE.
THREE TYPES OF CUSTOMERS:
END-USER CUSTOMERS
TECHNICAL CUSTOMERS
ECONOMIC CUSTOMERS
ECONOMIC CUSTOMERS
THE PERSON WHO MAKES THE ULTIMATE PURCHASE DECISION.
TECHNICAL CUSTOMERS
IT PERSON WHO INSTALLS OR MAINTAINS THE PRODUCT.
