ENTP Defined
What this class is primarily about.
What is building your entrepreneurial skills.
The identification of what you have, what you need and where you might get them.
What is a resource assessment
The business model block which addresses the problems solved or the value created.
What is Value Proposition
The creation of a business model canvas prior to doing any customer discovery.
A hypothesis or "guess".
Actual operating results, immediate cash flow, trained employees in place, established customers and suppliers, training assistance by the seller, (sometimes) financing options.
What are the benefits of business acquisition.
A collection of things that didn't go perfectly in our personal, educational and professional lives.
What is a failure resume.
Double Point Bonus!
The 4 most important types of assets required to make your business model work.
What are Key Resources
social media, online games and SAAS.
What are examples of virtual products delivered through virtual channels.
You don't need years of experience, a good mentor helps but mainly confidence, prepare for any possible contingency, get to the starting line early, have a game plan and adjust (fail) quickly, work harder than anyone else.
What are keys to being a successful innovator
The type of ventures generally associated with performing an hour of work for an hour of pay.
What is self-employment.
The number one reason businesses fail.
What are "hidden assumptions"
Details the value proposition/customer segment relationships and identifies customer/solution fit.
What is the Value Proposition Canvas
Industrial or B2B and Consumer B2C
What is The Market Category.
This famous athlete believed that he became successful during his career because he experienced failure over and over again.
Who is Michael Jordan.
In these types of businesses, the incremental cost of revenues is decreasing.
What is a scalable venture.
Their perception and response to failure.
What is the difference between average people and achieving people.
The different groups of people or organizations an enterprise aims to reach and serve.
What are customer segments.
This type of business model is the exact opposite of a freemium business model because in this business model, everyone pays and the provider of the product or service hopes that no one actually uses it..
What is an insurance business model.
Double Point Bonus!
Family, friends, neighbors, room mates and other people close to us.
People we should avoid when conducting perceived need interviews because they "love" us and will therefore tell us what we WANT to hear rather than what we NEED to hear.
The process by which teams within an established firm conceive, foster, launch and manage a new business that is distinct from but leverages the company's current assets, markets, and capabilities.
What is Corporate Intrapreneurship
The two things critical for all teams to be successful.
What are aligned goals and diverse skillsets.
Double Point Bonus!
Faster time to market, broader product offering, more efficient use of capital, unique customer knowledge, access to new markets.
What are reasons to partner.
This phenomena explains why multi-sided market "platforms" are challenging to start because the value of the product or service only changes in a positive way as more people use it
What are network effects.
An inventor invents great products; an entrepreneur invents great products that people buy.
What is the difference between and inventor and and entrepreneur.