Experiments and Prototypes
(Chapter 8)
(Chapter 8)
This is the purpose of conducting experiments in entrepreneurship?
What is validation
This is a personal social network of people who willingly cooperate and build trusting relationships.
What is social capital?
This pitch is a concise and to-the-point pitch designed to capture attention quickly.
What is an Elevator Pitch?
This is income gained from the sale of goods or services
What is Revenue
These are the people Entrepreneurs are more likely to turn to which source for financial assistance
Who are Friends and Family
This type of investor who uses personal funds to invest, is typically not within most peoples networks.
What is an angel investor
This type of company is a default, or only you
What is a Sole Proprietorship
Ads and SEO fall under which category of marketing?
What is Digital Marketing
This is a low-investment test version that gathers maximum validated learning.
What is a Minimum Viable Product (MVP)?
This is the type of social ties you have or don’t have and the degree to which those ties may be formal or informal
What is structural social capital?
This pitch is structured storytelling format with six parts, commonly used to frame business narratives.
What is a pixar pitch?
This term describes how a venture will create, deliver, and capture value
What is Business Model
This is the term for the hard work an entrepreneur personally puts in to get a business up and running
What is sweat equity
Angel investors usually look for returns at chat return?
What is 10X
This type of company has partners, not Shareholders
What is an LLC or LLP
This is the process of creating a name, term, design, symbol, or any other feature that identifies a product or service and differentiates it from others is known
What is a brand
This process uses sketches or drawings to depict high-level ideas.
What is Storyboarding?
This term refers to the nature of the relationships, such as trust, norms, and obligations.
What is relational social capital?
This is a type of presentation of varying lengths, the most useful business tool today
What is a pitch deck?
This pricing strategy is a new product offered for a heavily discounted price (or free) to attract more customers?
What is Introductory Offer
This platform charges a percentage of the funds obtained from each successful project
What is Kickstarter
This phase of financing consists of small amounts of capital to help entrepreneurs prove a concept
What is Seed Stage
This document is required when forming an LLC
What is an Operating Agreement
This term is the traditional marketing mix of product, price, promotion, place
What are he 4 P's
This provides rough layouts showing how users will navigate an app or product.
What is a wireframe?
These are connections between people of different backgrounds and cultures, facilitating the flow of new information and perspectives.
What are bridges?
This is a crucial element that needs to adapt to the audience, whether it is asking for investment, partnerships, or other specific actions-while pitching.
What is a CTA (Call to Action)?
This revenue model charges customers fees based on how often goods or services are consumed?
What is utility and usage
This is the name given to the process of building a business with very little, or no, funding
What is Bootstrapping
This is how many deals per year an average VC Firm will do per year
What is 1-3
What is a C-Corp
This type of marketing is lower cost, inexpensive marketing through unconventional means
What is Guerilla Marketing
Todd Kashdan's model emphasizes curiosity as a key element in entrepreneurship.
What is The Case for Curiosity
These have advantages that include access to private information, power, and diverse skillsets.
What are the benefits of Networks?
This pitch focuses on quickly explaining key elements of the business in 3 minutes or less.
What is a Rocket Pitch?
This revenue model provides professional services on a time and materials contract?
What is a Professional Revenue Model
This refers to the process of raising capital for a new venture from a large audience, usually through the Internet
This term refers to a rigorous process that evaluates an investment opportunity prior to a deal being finalized.
What is Due Diligence
What is a Sole Prop
All types of marketing activities enter what type of sales process?
What is a sales funnel
This is an early version used for experimentation. It demonstrates how ideas look, behave, and work.
What is a Prototype?
These are networks that span across organizational positions, enabling connections to those in positions of influence.
What are linkages?
This is the longest, most detailed pitch that outlines the business’s core aspects, aimed at attracting investors.
What is an Investor Pitch?
This method of pricing involves asking people how much they are willing to pay and then offering the product at that price?
What is Value Based Pricing
A company launching 100% through bootstrapping would uses this source of funding
What are personal funds
This type of financing involves sale of shares of stock in exchange for cash
What is Equity Financing
This document helps you to keep your information safe when sharing with others
What is an NDA
Evaluating the efficacy of your marketing requires this.
What is Data
This type of testing is important in refining a product. It helps identify strengths and weaknesses by observing customers interact with the product.
What is usability testing
This is the conscious or unconscious effort to influence others' perceptions of you (e.g., through posture, active listening, and professional demeanor).
What is impression management?
This term refers to all the progress a startup has made to date, demonstrating its potential success.
What is Traction?
This type of pricing strategy are customers encouraged to believe that the product is less expensive than it really is
What is Psychological Pricing
Businesses that start without any formal investment is true of which type of companies?
What is a startup?
Having net worth over $1 million or income over $200,000 qualifies you as what?
What is an Accredited Investor
This is what you use to protect your logo or brand identity
What is a trademark
This type of marketing has become one of the most powerful strategies for brands to engage their target audiences
What is influencer marketing
This method provides data to validate or reject assumptions, helping refine business models.
What is the Experimentation
These are individuals or groups who are drawn to your vision and want to support your entrepreneurial journey, motivated not by personal gain but by alignment with your mission.
Who are self selected stakeholders?
This method suggests that traditional corporate strategic planning doesn’t work well for startups due to the rapidly changing environment.
What is the Lean Startup Approach?
This type of pricing is a strategy that involves calculating the cost based on manufacturing and delivering the product and adding a profit margin
What is Cost Led Pricing
Which category does crowdfunding fall under?
What is Bootstrapping
This is the company's value before it receives outside investment.
What is Pre-Money Valuation
This protect creative or written works
What is a copyright
Marketing requires what to be successful over time
What is Continuous Learning and Testing