ENES 210 Test Questions with Correct Answers Latest Update 2025 Graded A+
typical structure of a modern startup - Answers - one to three co-founders
- incubator environment
- $0 - $100,000 investment
- demonstrates evidence of customers for your product or service
minimum viable team - Answers - hacker (engineers and developers; builds functional prototypes)
- hipster (design and user experience)
- hustler (marketing and business; growth hacking, scale customer acquisition and distribution)
phase one of the opportunity analysis canvas - Answers - entrepreneurial mindset
- entrepreneurial motivation
- entrepreneurial behavior
phase two of the opportunity analysis canvas - Answers - industry condition
- industry status
- macroeconomic change
- competition
phase three of the opportunity analysis canvas - Answers - value innovation
- opportunity identification
why do startups fail - Answers - customers are not interested enough in the product
- team is not positioned for success
- unable to market the product effectively
- not enough money
critical to starting a company - Answers - value proposition
- team strategy
- market strategy
- financial strategy
, value proposition - Answers - problem
- competition
- product-market fit
team strategy - Answers - founders
- advisers
- partners
market strategy - Answers - price
- placement
- promotion
financial strategy - Answers - revenue model
- cost model
- sales model
- funding model
purpose of a value proposition - Answers - explains how your product solves customers' problems or
improves their situation
- delivers specific benefits
- tells the target customer why they should buy from you and not from the competition
four steps to creating a value proposition - Answers - define
- evaluate
- measure
- build
tips for finding a problem - Answers - is the problem urgent?
- is the problem underserved?
- is the problem unworkable?
- is fixing the problem unavoidable?
startup fundings - Answers - idea stage
typical structure of a modern startup - Answers - one to three co-founders
- incubator environment
- $0 - $100,000 investment
- demonstrates evidence of customers for your product or service
minimum viable team - Answers - hacker (engineers and developers; builds functional prototypes)
- hipster (design and user experience)
- hustler (marketing and business; growth hacking, scale customer acquisition and distribution)
phase one of the opportunity analysis canvas - Answers - entrepreneurial mindset
- entrepreneurial motivation
- entrepreneurial behavior
phase two of the opportunity analysis canvas - Answers - industry condition
- industry status
- macroeconomic change
- competition
phase three of the opportunity analysis canvas - Answers - value innovation
- opportunity identification
why do startups fail - Answers - customers are not interested enough in the product
- team is not positioned for success
- unable to market the product effectively
- not enough money
critical to starting a company - Answers - value proposition
- team strategy
- market strategy
- financial strategy
, value proposition - Answers - problem
- competition
- product-market fit
team strategy - Answers - founders
- advisers
- partners
market strategy - Answers - price
- placement
- promotion
financial strategy - Answers - revenue model
- cost model
- sales model
- funding model
purpose of a value proposition - Answers - explains how your product solves customers' problems or
improves their situation
- delivers specific benefits
- tells the target customer why they should buy from you and not from the competition
four steps to creating a value proposition - Answers - define
- evaluate
- measure
- build
tips for finding a problem - Answers - is the problem urgent?
- is the problem underserved?
- is the problem unworkable?
- is fixing the problem unavoidable?
startup fundings - Answers - idea stage
