UTD ENTP 3301 EXAM #1 QUESTIONS AND
VERIFIED ANSWERS
\Q\.What is a MATT? - ANSWERS✔-Milestones, Assumptions, Tests Tasks.
Milestones - working demo, getting a sell / paying customer, initial capital,
breakeven, etc.
Assumptions - market size, gross margin, sales calls per person, cost of customer
acquisition, conversation rate.
Tests - do customers acquisitions costs permit profitable operations? Will people
use your product? Can you afford?
Tasks - recruit employees, finding vendors, setting up accounting, filing legal
documents.
\Q\.The Big Three - ANSWERS✔-Product, Market, Team
\Q\.Team - ANSWERS✔-Good mix and blend of skills.
- Work well together
- Great people > moderate ideas
\Q\.Characteristics of Entrepreneurs - ANSWERS✔-Emotional Commitment,
Vision, Determination.
- Complimentary team emmbers
, -healthy sense of paranoia
-ability to take risks
- finding a niche, wedging it open
- superior customer service
\Q\.Myths - ANSWERS✔-- Money CANT be your motivation
- You cant do it yourself
- fame is fickle
\Q\.3 importants for hiring - ANSWERS✔-- 1 filling functional gaps/weaknesses
(dont create useless/pointless/not needed positions)
- build credibility w/ outside world of your own ability & risk
- compatible people w/ same vision
\Q\.Boo Explosion - ANSWERS✔-Theory that when you as the CEO (A level
person), if you hire a B level person they are going to start hiring B level
employees and C level, and so on - the quality of people you hire goes down. Idea
that A level people hire A level people.
\Q\.five dysfunctions of a team - ANSWERS✔-inattention to results, avoidance of
accountability, lack of commitment, fear of conflict
\Q\.members of teams w/ absence of trust - ANSWERS✔-conceal weaknesses
from each other, hesistate to ask for help
VERIFIED ANSWERS
\Q\.What is a MATT? - ANSWERS✔-Milestones, Assumptions, Tests Tasks.
Milestones - working demo, getting a sell / paying customer, initial capital,
breakeven, etc.
Assumptions - market size, gross margin, sales calls per person, cost of customer
acquisition, conversation rate.
Tests - do customers acquisitions costs permit profitable operations? Will people
use your product? Can you afford?
Tasks - recruit employees, finding vendors, setting up accounting, filing legal
documents.
\Q\.The Big Three - ANSWERS✔-Product, Market, Team
\Q\.Team - ANSWERS✔-Good mix and blend of skills.
- Work well together
- Great people > moderate ideas
\Q\.Characteristics of Entrepreneurs - ANSWERS✔-Emotional Commitment,
Vision, Determination.
- Complimentary team emmbers
, -healthy sense of paranoia
-ability to take risks
- finding a niche, wedging it open
- superior customer service
\Q\.Myths - ANSWERS✔-- Money CANT be your motivation
- You cant do it yourself
- fame is fickle
\Q\.3 importants for hiring - ANSWERS✔-- 1 filling functional gaps/weaknesses
(dont create useless/pointless/not needed positions)
- build credibility w/ outside world of your own ability & risk
- compatible people w/ same vision
\Q\.Boo Explosion - ANSWERS✔-Theory that when you as the CEO (A level
person), if you hire a B level person they are going to start hiring B level
employees and C level, and so on - the quality of people you hire goes down. Idea
that A level people hire A level people.
\Q\.five dysfunctions of a team - ANSWERS✔-inattention to results, avoidance of
accountability, lack of commitment, fear of conflict
\Q\.members of teams w/ absence of trust - ANSWERS✔-conceal weaknesses
from each other, hesistate to ask for help
