UTD ENTP 3301 EXAM #1 questions
and answers graded A+ passed
What is a MATT? - correct answer ✔✔Milestones, Assumptions, Tests Tasks.
Milestones - working demo, getting a sell / paying customer, initial capital, breakeven, etc.
Assumptions - market size, gross margin, sales calls per person, cost of customer acquisition,
conversation rate.
Tests - do customers acquisitions costs permit profitable operations? Will people use your
product? Can you afford?
Tasks - recruit employees, finding vendors, setting up accounting, filing legal documents.
The Big Three - correct answer ✔✔Product, Market, Team
Team - correct answer ✔✔Good mix and blend of skills.
- Work well together
- Great people > moderate ideas
Characteristics of Entrepreneurs - correct answer ✔✔Emotional Commitment, Vision,
Determination.
- Complimentary team emmbers
-healthy sense of paranoia
-ability to take risks
- finding a niche, wedging it open
- superior customer service
, Myths - correct answer ✔✔- Money CANT be your motivation
- You cant do it yourself
- fame is fickle
3 importants for hiring - correct answer ✔✔- 1 filling functional gaps/weaknesses (dont create
useless/pointless/not needed positions)
- build credibility w/ outside world of your own ability & risk
- compatible people w/ same vision
Boo Explosion - correct answer ✔✔Theory that when you as the CEO (A level person), if you hire
a B level person they are going to start hiring B level employees and C level, and so on - the
quality of people you hire goes down. Idea that A level people hire A level people.
five dysfunctions of a team - correct answer ✔✔inattention to results, avoidance of
accountability, lack of commitment, fear of conflict
members of teams w/ absence of trust - correct answer ✔✔conceal weaknesses from each
other, hesistate to ask for help
teams that engage in constructive conflict - correct answer ✔✔lively engaging meetings, solve
problems easily
teams that fail to commit - correct answer ✔✔breeds lack of confidence, confusion of direction
of company
teams that avvoid accountability - correct answer ✔✔resentment between employees,
mediocrity, miss deadlines
and answers graded A+ passed
What is a MATT? - correct answer ✔✔Milestones, Assumptions, Tests Tasks.
Milestones - working demo, getting a sell / paying customer, initial capital, breakeven, etc.
Assumptions - market size, gross margin, sales calls per person, cost of customer acquisition,
conversation rate.
Tests - do customers acquisitions costs permit profitable operations? Will people use your
product? Can you afford?
Tasks - recruit employees, finding vendors, setting up accounting, filing legal documents.
The Big Three - correct answer ✔✔Product, Market, Team
Team - correct answer ✔✔Good mix and blend of skills.
- Work well together
- Great people > moderate ideas
Characteristics of Entrepreneurs - correct answer ✔✔Emotional Commitment, Vision,
Determination.
- Complimentary team emmbers
-healthy sense of paranoia
-ability to take risks
- finding a niche, wedging it open
- superior customer service
, Myths - correct answer ✔✔- Money CANT be your motivation
- You cant do it yourself
- fame is fickle
3 importants for hiring - correct answer ✔✔- 1 filling functional gaps/weaknesses (dont create
useless/pointless/not needed positions)
- build credibility w/ outside world of your own ability & risk
- compatible people w/ same vision
Boo Explosion - correct answer ✔✔Theory that when you as the CEO (A level person), if you hire
a B level person they are going to start hiring B level employees and C level, and so on - the
quality of people you hire goes down. Idea that A level people hire A level people.
five dysfunctions of a team - correct answer ✔✔inattention to results, avoidance of
accountability, lack of commitment, fear of conflict
members of teams w/ absence of trust - correct answer ✔✔conceal weaknesses from each
other, hesistate to ask for help
teams that engage in constructive conflict - correct answer ✔✔lively engaging meetings, solve
problems easily
teams that fail to commit - correct answer ✔✔breeds lack of confidence, confusion of direction
of company
teams that avvoid accountability - correct answer ✔✔resentment between employees,
mediocrity, miss deadlines
