Myth vs. Fiction
True or False, Entrepreneurs take other businesses' ideas and explore upon them to make them better or more successful.
True, not every entrepreneur starts their business with a major new invention.
Who created the start-up with the logo that has an apple that has been bitten?
Steve Jobs
Which class teaches strategies in marketing and analytics using a method where tasks are completed in short “sprints?”
ESP 321. Startup Entrepreneurship
How do you plan an end goal?
One major tip would be to sort your different goals into categories. Some of these categories may include; financial goals, growth goals, product goals, consumer goals, and employee goals. This will help you break down each goal into a smaller task. This will help you tackle more and stay more organized with your tasks.
True/false Startup entrepreneurship is an individual journey?
False
True or False? If you build a great idea, then it is bound to take off and make money.
False. Actually, 21.5% of entrepreneurs' first ideas fail, 30% do the next year, 50% a couple of years later, and 70% after 10 years after the first idea.
What is the start-up company that connects users with rental homes across the world that started in 2017
Airbnb
Which class emphasizes the venture creation process for startups?
ESP 401/ESP 501. Entrepreneurship: New Ventures
How do I stay up to date with trends changing constantly?
Becoming a constant learner is one way to make sure your start up company stays relevant throughout societal changes. You need to stay up to date with major changes in trends within business and marketing. Continuously learning will help not just you grow as a business owner, but also the startup itself.
Do you need to be a team player when making a startup?
Yes
In order to be a successful entrepreneur you need years of experience in the industry related to your start-up. Myth or Fact?
Myth
What is the start up company that was founded in 1991 that created the hit game Fortnite?
Epic Games
Which class teaches students how investors evaluate startups and how to negotiate investment terms?
ESP 444/ESP 544. Entrepreneurship: Venture Capital Immersion
How will I continue to stay relevant once my startup is off the grounds and running?
Connections. Keeping connections will help your sales grow and bring in different crowds. Never stop networking even once your startup gets going. Networking is the main supporter for the startup to grow.
Do you need to have an imaginative thought process?
Yes
Start ups are often self-funded and/or use loans from friends and family. Myth or Fact?
Fact
What start-up company connects local restaurants with users nearby and delivers them food?
DoorDash
Which class provides hand-on, real-world entrepreneurial problem-solving experiences for students?
ESP 461. Entrepreneurial Consulting
How do I know my startup will get positive feedback?
One way to be more secure about your product before putting all your time and money into it would be to create an (MVP) - which is a Minimal Viable Product. A MVP has three main components; functions, usability, and scalability. Once your startup has these three components you should be able to tell what kind of consumers will attract your products.
It is ok not to be self-motivated because your team will help you the whole way?
False
Entrepreneurs often have an incomplete business plan and make assumptions to fill plan gaps while they test out their fundamental ideas. Myth or Fact?
Fact
What is the large company that is attempting to send the first people to Mars founded by the one and only Elon Musk?
SpaceX
Which class explains the connections between new product development, innovation, and design with prototype projects?
ESP 481. Technology, Products & Ventures
How to stay positive throughout ups and down within your startup?
One way to remain positive will be to prepare for the negatives ahead of time. Meaning, you should brianstorm back up plans and scenarios if certain things do not go your way. One main back up plan could be another savings account in case of business emergencies with funding set aside.
True or false: Some of your ideas will fail but you need to keep going.
True