ENT 101 EXAM QUESTIONS AND
ANSWERS 100% CORRECT
Nail Pain - Nail Solution - Nail Go to Market Strategy - Nail Business Model - Scale it -
ANSWER-Phases of NISI
Entrepreneur has Idea - Discuss with friends/ Raise Money - Find location, Build
product - Test Product, Perfect It - Sell it - ANSWER-Tradition Process Method
Chart from Final product - ANSWER-Buisness Model Canvas
The Process Myth
The Hero Myth
The Money Myth - ANSWER-Myths of Entrepreneurship
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 t anyone buy it - ANSWER-Reasons why
entrepreneurs fail
customers validate and entrepreneurs innovate - ANSWER-Customers
end-user customers: the person who uses the product or manages people who use the
product
Technical Customers: IT person who installs or maintains the product.
Economic Customers: the person who makes the ultimate purchase decision. -
ANSWER-3 types of customers
•Is this a pain you experience?
•Tell me about It, Tell me more. Why is this such a pain?
•Would something like this solve your pain?
•Remember, don't expect the customer to solve the pain - ANSWER-questions for
validation
A product of the intellect, such as an expressed idea or concept, that has commercial
value. - ANSWER-intellectual property
Patents
ANSWERS 100% CORRECT
Nail Pain - Nail Solution - Nail Go to Market Strategy - Nail Business Model - Scale it -
ANSWER-Phases of NISI
Entrepreneur has Idea - Discuss with friends/ Raise Money - Find location, Build
product - Test Product, Perfect It - Sell it - ANSWER-Tradition Process Method
Chart from Final product - ANSWER-Buisness Model Canvas
The Process Myth
The Hero Myth
The Money Myth - ANSWER-Myths of Entrepreneurship
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 t anyone buy it - ANSWER-Reasons why
entrepreneurs fail
customers validate and entrepreneurs innovate - ANSWER-Customers
end-user customers: the person who uses the product or manages people who use the
product
Technical Customers: IT person who installs or maintains the product.
Economic Customers: the person who makes the ultimate purchase decision. -
ANSWER-3 types of customers
•Is this a pain you experience?
•Tell me about It, Tell me more. Why is this such a pain?
•Would something like this solve your pain?
•Remember, don't expect the customer to solve the pain - ANSWER-questions for
validation
A product of the intellect, such as an expressed idea or concept, that has commercial
value. - ANSWER-intellectual property
Patents
