ENT 101 Final exam with answers

ENT 101 Final exam with answers
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5 Phases of the Nail it then Scale It Process - CORRECT ANSWERS
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✔✔1. Nail the 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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Myths of Entrepreneurship - CORRECT ANSWERS ✔✔1. The
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Process Myth |\




2. The Hero Myth
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3. The Money Myth
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The Process Myth - CORRECT ANSWERS ✔✔The conventional,
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"build it and then sell it" process doesn't work because
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entrepreneurs start out with a guess |\ |\ |\ |\ |\




The Hero Myth - CORRECT ANSWERS ✔✔Qualities that are
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heralded as traits of the successful may lead to your startup's
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demise


The Money Myth - CORRECT ANSWERS ✔✔More money isn't
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necessarily better |\

, Failures - CORRECT ANSWERS ✔✔• 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 can increase failure
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• Is okay if you Fail Fast, and Fail Cheap
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• Why do 90% of businesses fail - Couldn't get anyone to buy it
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Customers do what in entrepreneurism - CORRECT ANSWERS |\ |\ |\ |\ |\ |\ |\ |\


✔✔Validate a Product |\ |\




Types of Customers - CORRECT ANSWERS ✔✔1. End-User
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Customers
2. Technical Customers
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3. Economic Customers
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End-User Customers - CORRECT ANSWERS ✔✔Person who uses
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the product or manages people who use the product
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Technical Customers - CORRECT ANSWERS ✔✔The IT person who
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installs or maintains the product
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Economic Customers - CORRECT ANSWERS ✔✔The person who
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makes the purchase decision|\ |\ |\