Product Idea
1. You live in a remote area with limited opportunities. How do you expand your opportunities? A. I can relocate somewhere abroad
B. I can relocate to capital city
C. I can learn English language, use all available tools and means to expand my current opportunities
D. No way
C. I can learn English language, use all available tools and means to expand my current opportunities
Which of the following is an advantage of starting a small business?
a) Limited income potential
b) Higher level of bureaucracy
c) Greater flexibility and independence
d) Limited opportunities for growth
Correct answer: c) Greater flexibility and independence
What is one of the main challenges entrepreneurs often face when starting a business?
a) Limited competition
b) Excessive capital
c) Lack of market demand
d) Insufficient funding
Correct answer: d) Insufficient funding
True or False
The experience must be something you have done before
Answer: False
who is founder of tesla company?
Elon Reeve Musk.
2. How to validate an idea by interviewing your customers?
A. Ask them if they would buy my product
B. Ask them how they solve the problem at the moment
C. Ask them to recommend my product to someone
D. Ask them to buy one product
B. Ask them how they solve the problem at the moment
What is the primary purpose of a business plan?
a) To secure funding from investors
b) To outline the company's goals and strategies
c) To comply with legal requirements
d) To keep track of daily expenses
Correct answer:
b) To outline the company's goals and strategies
What is a common challenge in highly competitive markets for new businesses?
a) Easy customer acquisition
b) Established customer base
c) Reduced operational costs
d) Strong brand recognition
Correct answer: d) Strong brand recognition
True or false - the what is more important than why?
Answer: False
True or False. Jeff Bezos founded instagram.
False. Kevin Synstrom is the founder
3.How can you validate an idea?
a) Keep it to yourself and analyze it alone
b) Talk to customers
c) Conduct extensive market research
d) Implement the idea without any validation
b) Talk to customers
What does the term "cash flow" refer to in a business context?
a) The total revenue generated by a business
b) The money a business owes to its creditors
c) The movement of money into and out of a business
d) The profit generated by a business
c) The movement of money into and out of a business
Why is building a strong team important when starting a business?
a) To reduce marketing expenses
b) To increase product pricing
c) To delegate all responsibilities
d) To enhance business success
Correct answer: d) To enhance business success
2. What are the three parts of a pitch
Answer: Value, Experience, Call to Action
Sergey Brin and Larry Page is the founder of?
Google!
4. When it comes to basic skills, which of the following is NOT mentioned as an important skill?
a) Research skills
b) English language
c) Discipline
d) Ability to code
d) Ability to code
Which of the following is an example of a fixed cost for a small business?
a) Raw materials
b) Employee salaries
c) Utility bills
d) Advertising expenses
Correct answer: c) Utility bills
What is the significance of developing a unique value proposition for a new business?
a) Attracting competitors' customers
b) Increasing government regulations
c) Standing out from competitors
d) Reducing marketing efforts
Correct answer: c) Standing out from competitors
True or false:
You are very likely to have a lot of structured environments to make a formal pitch
True or False: Mark Zuckerberg is the founder of Whatsapp.
Brian Acton and Jan Koum, are the founder of Whatsapp.
5. Why is it advised not to score ideas during brainstorming?
a) It takes too much time
b) It discourages creative thinking
c) It leads to a biased evaluation
d) It distracts from finding new ideas
b) It discourages creative thinking
What is the purpose of market research for a small business?
a) To track employee performance
b) To identify potential customers and their needs
c) To negotiate contracts with suppliers
d) To file taxes accurately
Correct answer: b) To identify potential customers and their needs
Why is understanding and complying with legal regulations a challenge when starting a business?
a) To simplify business operations
b) To reduce customer acquisition costs
c) To avoid penalties and legal issues
d) To eliminate the need for licenses
Correct answer: c) To avoid penalties and legal issues
True or False
A good call to action includes asking for a specific amount of money, e.g. $500
Answer: False
Who are the founders of Aamazon?
Jeff Bezos