ENT101 Exam Questions and Answers |Latest
Update
Phases of the NISI Process - ANS Nail Pain--> Nail Solution--> Nail go to market strategy--> Nail
Business Model--> Scale it
Traditional Process Method - ANS Entrepreneur has Ideas--> Discuss with friends/raise money--
> Find location, build product --> test product, perfect it--> sell it
Business Model Canvas - ANS Visual model to sum up business
The Process Myth - ANS idea, product, team, test, sell
the hero myth - ANS believing in your product leads to failure
the money myth - ANS you need to have a large sum of money to get started
Reasons why entrepreneurs fail - ANS -tackle wrong tasks
-do things in wrong order
-fall prey to own strengths
-follow conventional wisdom
-more capital can increase failure
-is okay if you fail fast and fail cheap
-why do 90% of businesses fail- couldn't get anyone to buy it
Customers ________, entrepreneurs ______________ - ANS validate, innovate
It is not the customers responsibility to think of a way to solve the pain, it is the entrepreneurs
