ENT 101 Final exam with correct |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
answers
NISI Phases - correct answer✔✔1. Nail the Pain
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2. Nail the Solution
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3. Nail Go to Market
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4. Nail the Business Model
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5. Scale it |||\\\ |||\\\
Traditional Process Method - correct answer✔✔1. entrepreneur has an idea |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2. discusses with friends and family/ raises money
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3. find location, build product
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4. test product, perfect it
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5. sell it |||\\\ |||\\\
Business model canvas - correct answer✔✔ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
3 myths of entrepreneurship - correct answer✔✔1. process myth
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2. hero myth |||\\\ |||\\\ |||\\\
3. money myth |||\\\ |||\\\
Reasons why entrepreneurs fail - correct answer✔✔- tackle wrong tasks
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- do things in wrong order
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-fall prey to own strengths
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- follow conventional wisdom
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, - more capital increases failure
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Why do 90% of businesses fail - correct answer✔✔couldn't get anyone to buy it
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What are the role of customers vs role of entrepreneurs - correct answer✔✔customers
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validate, entrepreneurs innovate |||\\\ |||\\\
Three types of customers - correct answer✔✔1. end user customers
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2. technical customers
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3. economic customers
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end user customers - correct answer✔✔the person uses the product or manages the people
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who use it |||\\\ |||\\\
technical customers - correct answer✔✔IT person who installs or maintains the product
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Economic Customers - correct answer✔✔the person who makes the ultimate purchase |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
decision
Why should we get outside of the building??? - correct answer✔✔we are convinced we
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understand when we actually dont |||\\\ |||\\\ |||\\\ |||\\\
Questions to ask when validating a pain?? - correct answer✔✔1. Is this a pain you experience?
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2. tell me about I , tell me more. Why such a pain?
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3. Would something like this solve your pain??
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IP includes - correct answer✔✔1. patents
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answers
NISI Phases - correct answer✔✔1. Nail the Pain
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2. Nail the Solution
|||\\\ |||\\\ |||\\\ |||\\\
3. Nail Go to Market
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
4. Nail the Business Model
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
5. Scale it |||\\\ |||\\\
Traditional Process Method - correct answer✔✔1. entrepreneur has an idea |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2. discusses with friends and family/ raises money
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
3. find location, build product
|||\\\ |||\\\ |||\\\ |||\\\
4. test product, perfect it
|||\\\ |||\\\ |||\\\ |||\\\
5. sell it |||\\\ |||\\\
Business model canvas - correct answer✔✔ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
3 myths of entrepreneurship - correct answer✔✔1. process myth
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2. hero myth |||\\\ |||\\\ |||\\\
3. money myth |||\\\ |||\\\
Reasons why entrepreneurs fail - correct answer✔✔- tackle wrong tasks
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
- do things in wrong order
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
-fall prey to own strengths
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\
- follow conventional wisdom
|||\\\ |||\\\ |||\\\ |||\\\
, - more capital increases failure
|||\\\ |||\\\ |||\\\ |||\\\
Why do 90% of businesses fail - correct answer✔✔couldn't get anyone to buy it
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
What are the role of customers vs role of entrepreneurs - correct answer✔✔customers
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
validate, entrepreneurs innovate |||\\\ |||\\\
Three types of customers - correct answer✔✔1. end user customers
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2. technical customers
|||\\\ |||\\\ |||\\\
3. economic customers
|||\\\ |||\\\
end user customers - correct answer✔✔the person uses the product or manages the people
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
who use it |||\\\ |||\\\
technical customers - correct answer✔✔IT person who installs or maintains the product
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
Economic Customers - correct answer✔✔the person who makes the ultimate purchase |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
decision
Why should we get outside of the building??? - correct answer✔✔we are convinced we
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
understand when we actually dont |||\\\ |||\\\ |||\\\ |||\\\
Questions to ask when validating a pain?? - correct answer✔✔1. Is this a pain you experience?
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
2. tell me about I , tell me more. Why such a pain?
|||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\ |||\\\
3. Would something like this solve your pain??
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IP includes - correct answer✔✔1. patents
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