Vocab
What is someone who goes into business for themselves called?
Entrepreneur
What are "Key Partners"
A list of other external companies/suppliers/parties you may need to
If someone was to sell a product that was meant for the students in this class, what would their target audience be?
Teenagers aged 15-19 or some variation of this
Name a step in the design thinking process that was not mentioned
Empathise, Define, Ideate, Prototype, Test
What does SEV stand for
Social Entrepreneurship Venture
What does BMC stand for?
Business Model Canvas
What is the point of a target audience?
So that you don't waste time and effort selling your products who probably will not want it.
What does BML stand for?
Build Measure Learn
Customer _____ is how a business interacts with its customers
Fill in the blank
Relationships
Why did Webvan fail?
Their target audience was too loud.
Fail __, Fail __
Fill in the blank
Fast, Cheap
Give examples of some channels that one can use
Facebook, word of mouth, etc
What do you need to be an entrepreneur?
Dedication, persistence and hard work.
Explain the difference between an MVP and Prototype
An MVP feels like a separate product itself, a prototype is more of a draft
How many segments are there to the BMC?
9
What is Amazon's target audience?
Everyone except babies, sometimes this works out but rarely
Name four of the design thinking process steps that have not been mentioned
Empathise, Define, Ideate, Prototype, Test
How old do you have to be an entrepreneur?
Any age :)