MINDSET
THE NUMBER ONE CHARACTERISTIC OF AN ENTREPRENEUR
WHAT IS GRIT?
A crucial component of validating a business idea
THAT involves assessing the viability and potential success of a product or service in the target market before committing significant resources.
WHAT IS A MARKET ANALYSIS?
THIS IS A STRATEGIC MANAGEMENT TOOL THAT DESCRIBES HOW A BUSINESS CREATES, AND DELIVERS AND CAPTURES VALUE
WHAT IS THE BUSINESS MODEL CANVAS?
Usually under a minute, describes 9 elements that makes the case for a new business idea.
What is the business pitch?
ENTREPRENEURSHIP IS NOT FOR THE _________
WHAT IS 'FAINT OF HEART'?
WHEN YOU EXPLORE THE CUSTOMER BEHAVIOR DIRECTLY THROUGH INTERVIEWS, FOCUS GROUPS AND SURVEYS.
WHAT IS PRIMARY RESEARCH?
REVENUE-EXPENSES=NET PROFIT/LOSS
WHAT IS THE INCOME STATEMENT?
Students gain hands-on experience running a clothing shop, making key decisions on inventory, pricing, and staffing over twelve simulated quarters.
What is the Entrepreneur SIM?
CLASS TRIP THAT EMBODIES THE VERY IMPORTANT CHARACTERISTIC OF ENTREPRENEURS : INNOVATION
WHAT IS THE FAST COMPANY INNOVATION FESTIVAL?
an organization must demonstrate a greater comparative or differential value than its competitors and convey that information to its desired target market.
WHAT IS COMPETITIVE ADVANTAGE?
ASSETS = LIABILITY + EQUITY
WHAT IS THE BALANCE SHEET?
Allows creators to quickly and efficiently answer critical business questions and develop tangible solutions with a structured framework of six phases: Understand, Define, Sketch, Decide, Prototype, and Validate
WHAT IS THE GOOGLE DESIGN SPRINT METHODOLOGY?
This MODERN BUSINESS PLAN includes a Business Model Canvas, Value Proposition Canvases, a back of the napkin calculation or spreadsheet of your revenues, and the key hypotheses you intend to test.
WHAT IS AN "MVBP"? (Minimum Viable Business Plan)
REPRESENTS THE TOTAL MARKET SPACE THAT A PRODUCT OR SERVICE PLAYS IN
WHAT IS TAM, OR TOTAL ADDRESSABLE MARKET?
WHAT IS AN ASYMMETRICAL REVENUE MODEL?
The process of self-funding a company.
WHAT IS BOOTSTRAPPING?