Warmup
Is there only one definition for the meaning of entrepreneur?
No
This term describes an employee within a company who takes the initiative often behaving like an entrepreneur within the organization. What is it called?
Intrapreneurship
What is blue ocean?
Opening up a new market space and creating demand.
Who wrote the book "All in Startup?"
Diana Kander
Expressed as a percentage and represents the percent of total sales revenue that a company keeps after subtracting the cost of producing goods and services.
What is Gross Margin
Entrepreneurs and Business owners are the same thing
Wrong
What is the Pomodoro Technique
Working on a task for a period of time, taking a break, and repeating this
What is the internal locus of control
understanding that you have a percentage of responsibility during a situation or problem
Who are the two main Characters?
Owen & Sam
A cost that does not change with increases or decreases in the volume of goods or services that are produced by your company.
Fixed Cost
How far back can entrepreneurs be traced
nearly 20,000 years ago
What does self efficacy mean?
The belief that you can do whatever it is that you want to achieve.
True or False. Blue oceans eventually turn into red oceans.
True
What business does Owen have?
Bike Shop
Debt that can be used to finance your business assets.
Leverage
What is the biggest factor in someone becoming an entrepreneur
The biggest driving factor was to become ones own boss
(Why_People_Become_Entrepreneurs)
What are three key points to consider for some aspiring to be an entrepreneur?
1) Passionate and purpose 2) Market need and opportunity 3) Risk and resilience
What is one way you can create value in a blue ocean?
-time
-experience
-quality
-price
-environment
-social cause
-safety
-location
What did Owen assume his customers wanted when starting his business?
Low priced bikes
Any item purchased by your business that create future benefits
Capital Expenditures
This type of marketing aims to create a buzz around a product or service by getting influential individuals to endorse it. What is it called?
Marketing
What does MVP stand for?
Minimal Viable Product
What’s the difference between fixed and growth mindset?
Fixed:abilities are innate and cannot be changed.
Growth mindset: abilities can be developed and improved over time.
What tournament is Owen in?
World Series of Poker
The measure (usually a percentage ) of how much business you are doing with a specific client or partner.
Concentration