ENT 101
PHASES OF THE NISI PROCESS - Answer-Nail Pain
Nail Solution
Nail Go to Market Strategy
Nail Business Model
Scale it
TRADITIONAL PROCESS METHOD - Answer-Entrepreneur has Idea
Discuss with friends/Raise money
Find location
Build product
Test Product
Perfect it
Sell It
Myths of Entrepreneurship - Answer-The Process Myth
The Hero Myth
The Money Myth
THE PROCESS MYTH - Answer-IDEA, PRODUCT, TEAM, TEST, SELL
THE HERO MYTH - Answer-•BELIEVING IN YOUR PRODUCT LEADS TO FAILURE
, THE MONEY MYTH - Answer-YOU NEED TO HAVE A LARGE SUM OF MONEY TO GET STARTED.
REASONS WHY ENTREPRENEURS FAIL - Answer-•TACKLE WRONG TASKS
•DO THINGS IN WRONG ORDER
•FALL PREY TO OWN STRENGTHS
•FOLLOW CONVENTIONAL WISDOM
•MORE CAPITAL CAN INCREASE FAILURE
WHY DO 90% OF BUSINESSES FAIL - Answer-COULDN'T GET ANYONE TO BUY IT
CUSTOMERS __________, ENTREPRENEURS ____________________ - Answer-•CUSTOMERS VALIDATE,
ENTREPRENEURS INNOVATE.
THREE TYPES OF CUSTOMERS: - Answer-END-USER CUSTOMERS
TECHNICAL CUSTOMERS
ECONOMIC CUSTOMERS
ECONOMIC CUSTOMERS - Answer-THE PERSON WHO MAKES THE ULTIMATE PURCHASE DECISION.
TECHNICAL CUSTOMERS - Answer-IT PERSON WHO INSTALLS OR MAINTAINS THE PRODUCT.
END-USER CUSTOMERS - Answer-•THE PERSON WHO USES THE PRODUCT OR MANAGES PEOPLE WHO
USE THE PRODUCT.
QUESTIONS TO ASK WHEN VALIDATING A PAIN - Answer-•IS THIS A PAIN YOU EXPERIENCE?
PHASES OF THE NISI PROCESS - Answer-Nail Pain
Nail Solution
Nail Go to Market Strategy
Nail Business Model
Scale it
TRADITIONAL PROCESS METHOD - Answer-Entrepreneur has Idea
Discuss with friends/Raise money
Find location
Build product
Test Product
Perfect it
Sell It
Myths of Entrepreneurship - Answer-The Process Myth
The Hero Myth
The Money Myth
THE PROCESS MYTH - Answer-IDEA, PRODUCT, TEAM, TEST, SELL
THE HERO MYTH - Answer-•BELIEVING IN YOUR PRODUCT LEADS TO FAILURE
, THE MONEY MYTH - Answer-YOU NEED TO HAVE A LARGE SUM OF MONEY TO GET STARTED.
REASONS WHY ENTREPRENEURS FAIL - Answer-•TACKLE WRONG TASKS
•DO THINGS IN WRONG ORDER
•FALL PREY TO OWN STRENGTHS
•FOLLOW CONVENTIONAL WISDOM
•MORE CAPITAL CAN INCREASE FAILURE
WHY DO 90% OF BUSINESSES FAIL - Answer-COULDN'T GET ANYONE TO BUY IT
CUSTOMERS __________, ENTREPRENEURS ____________________ - Answer-•CUSTOMERS VALIDATE,
ENTREPRENEURS INNOVATE.
THREE TYPES OF CUSTOMERS: - Answer-END-USER CUSTOMERS
TECHNICAL CUSTOMERS
ECONOMIC CUSTOMERS
ECONOMIC CUSTOMERS - Answer-THE PERSON WHO MAKES THE ULTIMATE PURCHASE DECISION.
TECHNICAL CUSTOMERS - Answer-IT PERSON WHO INSTALLS OR MAINTAINS THE PRODUCT.
END-USER CUSTOMERS - Answer-•THE PERSON WHO USES THE PRODUCT OR MANAGES PEOPLE WHO
USE THE PRODUCT.
QUESTIONS TO ASK WHEN VALIDATING A PAIN - Answer-•IS THIS A PAIN YOU EXPERIENCE?
