Fundraising
The definition of an option
What is a right to buy a share of stock at a set price
The GTM model of giving things away for free/cheap initially is known as
The definition of Product Market Fit
What is the ability to repeatedly sell & deliver a value proposition into a target market with predictable success
The top reason most startups fail
What is.. the main reasons why startups fail is
because they build products nobody wants
Innovation = ?
What is .. Invention*Commercialization
The LTV/CAC ratio which is a sign things are going well
And this is greater than 3
The average top of the funnel close rate is
What is ~ 2%
What is Innovation and Transaction platforms.
Select co-founders with the complementary ____ and
_____ necessary to realize your vision for the venture
What are skills and professional networks
The two kinds of entrepreneurship driven enterprises
SMEs and IDEs (Small/Medium Enterprise) and (Innovation Driven Enterprises)
The formula to calculate Average Customer Lifetime using Churn
What is 1/Churn
Three marketing testing tactics covered by Paul Cheek
What is 1) Build The Mousetrap 2) Set The Trap 3) Interpret The Results
The three things most platforms have in common
What is 1) Bringing together 2 or more market sides 2) Generate value through network effects and 3) Must solve a chicken or egg problem
The three kinds of bias you should be mindful of while conducting PMR
What is confirmation bias, social adaptability bias, and selection bias.
The #1 reason shared by Paul English for his repeated success as an entrepreneur
What is... hiring the best people
The liquidation preference advantage for Preferred stock investors is
What is getting paid before common stock owners.
The four axioms of Entrepreneurial Strategy according to Scott Stern and Erin Scott
What is Freedom, Constraint, Uncertainty and Noisy Learning.
The difference between red-line and green-line development in terms of prototyping?
What is... Green-line --> a lot of prototyping early on, more experimentation early on, less costly in the long run
The two different approaches to PMR
What are qualitative and quantitative research.
The four methods to promote creativity and team ideation are 30 circles, ___, ____, and _____
GoKart wants to raise $1M pre-seed. Investors value GoKart at $9M pre-money. The ownership of the founders after the fundraise is
What is 90%
The three dimensions of Entrepreneurial Experimental Design
What is Criticality, Fidelity and Opportunity Cost.
The 4 things that comprise a WTAoM platform
What is:
1) Strong network effects among users & between
platform & complements (new strategy concept)
2) “Multi-homing” costly (difficult to use more than one
platform as your “home”) (new strategy concept)
3) Little differentiation or niches among competitors
4) High barriers to entry for potential new competitors
Early on, who among the founding team should engage in PMR
... all the co-founders including technical co-founders
The 5 steps of the Stanford design thinking process..
What are Empathize, Define, Ideate, Prototype and Test