ch1-2
what was sparkys' known for?
microprocessors for smart phones
makes a more accesible website
what is vanity metrics?
vanity metrics is superficial data points such as social media likes, and page views
why is asking/reaching out for mentorship important?
because they do not just appear.
what is building on untested assumptions
When entrepreneurs build a product based what they think consumers want
what does rebicycle sell?
Already custom built bikes
what is darwins law?
beign able to adapt to a certain environment based on surroundings
what is an epiphany?
manifesitng of success
what is intiative?
demonstartes the person willing to learning
Who are target customers
These are the specific group your idea focuses on(bikes and different ages), chapter 8 makes it important that assumptions of what the customers want should be replaced with real insight.
who is Sam? What does she regret doing?
Sam was the original owner of sparkys', she regrets selling the company when her marriage ended
after Owen rebranded how much did his sales increase?
over 200 percent
how does an entrepreneur measure success?
by tracking the numbers that truly measure performance
why is it important to be open to feedback?
When approaching a mentor you can beenfit from there experiences
What is Pivoting in entrepreneurship
When an idea dosent work you should go in a different direction based on the feedback the product is given.
what is sparkys' refering to when they say thye offer "7" perks?
pays employees to visit different continents
where does owen go in chapter 4
poker tournament
what should entreupeneurs focus on when trying to scale
trackign numbers that imorove growth, revenue
what is a product-market fit?
Customers truly value a product
What do you think validated learning means?
what entrepreneurs think they know vs what's actually known based off tested information like data, surveys feedback reviews
what do entrepreneurs lack when talkign about their business?
they lack market validation(proof idea can, and will succeed)
what idea behind its ho well you win not loose?
soemtimes takign small bets and loosing is better than taking large bets and loosing it all
where does Owen meet sam
at a poker tournament
what is gaining perspective?
Broadens the persons view they might not see on their own
what is data?
a stored collection of numbers, increase, website views, tracks progress