ENTRE101
What is the book that we were suppose to read throughout the semester?
All in Startup
What is Lean Start up?
An technique that allows the developer to create a product with minimal features and receives feedback from costumers in which how the developer can make the product better.
How long should an elevator pitch be?
30 seconds
What is crowdfunding?
A method of funding one's business idea through donations of the public.
How many dysfunctions are there according to Lencioni?
Five
How many types of entrepreneurships exist
3
Who developed the Lean Start-up approach?
Eric Ries
What should be included in an elevator pitch?
Name, background, connection, closing
True or False: One of the cons of crowdfunding is media exposure.
True or False: Some conflict within a team is healthy.
True
What is the type of entrepreneurship that improves an organization by using their creativity
Intrapreneur
What are the three components of the feedback loop in a lean start up?
Build, measure, and learn
How long should a Fast Pitch be?
90 seconds
What is the name of supporters that fund a business idea through crowdfunding?
Backers
How many ventures fail because of problems with the team?
60%
Who said this: "Entrepreneurship is the pursuit of opportunity beyond resources controlled"
Howard Stevenson
What does it mean to "Pivot" a product?
Change in direction to test a hypothesis of a product, strategy, or engine to growth.
At the end of a Fast Pitch, the audience should be left with what feeling?
A "WOW" feeling
In order to make a business idea more appealing, what might an entrepreneur do?
create an incentive or reward
According to Lencioni, what is the first step in the hierarchy of dysfunctions when it comes to teams?
Absence of Trust
Around 17,000 BCE, the first entrepreneurs could be found where?
New Guiena
What activity requires you to constantly change the model of a structure rather than putting all your money in one?
The marshmallow activity
What is the percentage of ventures that investors actually invest in?
less than 1%
What is a form of crowdfunding used by London in 1730?
War Bonds
According to Lencioni's dysfunctions, how do you address the issue on keeping other team members accountable?
Building trust and commitment within the team.