ENT 101 Corbin Church ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
What are the 3 myths of entrepreneurship? • Process myth - idea, product, team, test, sell
• Hero myth - believing in your product leads to failure
• Money myth - you need a large sum of money to get started
Fundamental attribution error People often attribute far more success and far more failure to the individual than
the individual actually deserves
5 steps of traditional ent process model 1. Entrepreneur has an idea
2. Discuss and raise money w fam, friends, & fools
3. Find location, develop product
4. Perfect the product and add features for broad appeal
5. Sell product
5 NISI phases 1. Nail pain
2. Nail solution
3. Nail go-to-market strategy
4. Nail the business model
5. Scale it!
What are the 3 myths of entrepreneurship? • Process myth - idea, product, team, test, sell
• Hero myth - believing in your product leads to failure
• Money myth - you need a large sum of money to get started
Fundamental attribution error People often attribute far more success and far more failure to the individual than
the individual actually deserves
5 steps of traditional ent process model 1. Entrepreneur has an idea
2. Discuss and raise money w fam, friends, & fools
3. Find location, develop product
4. Perfect the product and add features for broad appeal
5. Sell product
5 NISI phases 1. Nail pain
2. Nail solution
3. Nail go-to-market strategy
4. Nail the business model
5. Scale it!
