ENT 101 Final
NISI Phases - Answer-1. Nail the Pain
2. Nail the Solution
3. Nail Go to Market
4. Nail the Business Model
5. Scale it
Traditional Process Method - Answer-1. entrepreneur has an idea
2. discusses with friends and family/ raises money
3. find location, build product
4. test product, perfect it
5. sell it
3 myths of entrepreneurship - Answer-1. process myth
2. hero myth
3. money myth
Reasons why entrepreneurs fail - Answer-- tackle wrong tasks
- do things in wrong order
-fall prey to own strengths
- follow conventional wisdom
- more capital increases failure
, Why do 90% of businesses fail - Answer-couldn't get anyone to buy it
What are the role of customers vs role of entrepreneurs - Answer-customers validate, entrepreneurs
innovate
Three types of customers - Answer-1. end user customers
2. technical customers
3. economic customers
end user customers - Answer-the person uses the product or manages the people who use it
technical customers - Answer-IT person who installs or maintains the product
Economic Customers - Answer-the person who makes the ultimate purchase decision
Why should we get outside of the building??? - Answer-we are convinced we understand when we
actually dont
Questions to ask when validating a pain?? - Answer-1. Is this a pain you experience?
2. tell me about I , tell me more. Why such a pain?
3. Would something like this solve your pain??
IP includes - Answer-1. patents
2. copyrights
3. trademarks
NISI Phases - Answer-1. Nail the Pain
2. Nail the Solution
3. Nail Go to Market
4. Nail the Business Model
5. Scale it
Traditional Process Method - Answer-1. entrepreneur has an idea
2. discusses with friends and family/ raises money
3. find location, build product
4. test product, perfect it
5. sell it
3 myths of entrepreneurship - Answer-1. process myth
2. hero myth
3. money myth
Reasons why entrepreneurs fail - Answer-- tackle wrong tasks
- do things in wrong order
-fall prey to own strengths
- follow conventional wisdom
- more capital increases failure
, Why do 90% of businesses fail - Answer-couldn't get anyone to buy it
What are the role of customers vs role of entrepreneurs - Answer-customers validate, entrepreneurs
innovate
Three types of customers - Answer-1. end user customers
2. technical customers
3. economic customers
end user customers - Answer-the person uses the product or manages the people who use it
technical customers - Answer-IT person who installs or maintains the product
Economic Customers - Answer-the person who makes the ultimate purchase decision
Why should we get outside of the building??? - Answer-we are convinced we understand when we
actually dont
Questions to ask when validating a pain?? - Answer-1. Is this a pain you experience?
2. tell me about I , tell me more. Why such a pain?
3. Would something like this solve your pain??
IP includes - Answer-1. patents
2. copyrights
3. trademarks
