ENT 101 Final Corbin Church questions with answers

ENT 101 Final Corbin Church questions with
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answers

3 myths of entrepreneurship - CORRECT ANSWERS ✔✔1.
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PROCESS MYTH (The idea that a typical process of launching a
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business is simple and bullet proof) |\ |\ |\ |\ |\




2. HERO MYTH (Believing too much in your product can lead to
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failure)
3. MONEY MYTH (You need to have a large amount of $ to get
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started)


5 Phases Nail it Then Scale It - CORRECT ANSWERS ✔✔1. Nail the
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Pain
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2. Nail the Solution
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3. Nail the Go-to-Market strategy
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4. Nail the Business Model
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5. Scale it
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What's essential for making a sustainable company? - CORRECT
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ANSWERS ✔✔Putting heart into it, Understanding innovation
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process, Validating with potential users
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Business model canvas - CORRECT ANSWERS ✔✔a diagram of
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how a company creates value for itself and its customers
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, Why do 90% of businesses fail - CORRECT ANSWERS ✔✔couldn't
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get anyone to buy it / they didn't build what the customers
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wanted.


What are the role of customers vs role of entrepreneurs -
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CORRECT ANSWERS ✔✔customers validate, entrepreneurs
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innovate


Three types of customers - CORRECT ANSWERS ✔✔1. end user
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customers (the person uses the product or manages the people
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who use it) |\ |\




2. technical customers (IT person who installs or maintains the
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product)
3. economic customers (the person who makes the ultimate
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purchase decision) |\




Why should we get outside of the building??? - CORRECT
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ANSWERS ✔✔we are convinced we understand when we actually
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dont


Questions to ask when validating a pain?? - CORRECT ANSWERS
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✔✔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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Invention - CORRECT ANSWERS ✔✔the discovery of a new
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technology, product or service |\ |\ |\