BYU ENT 101 FINAL EXAM QUESTIONS
AND ANSWERS ALL CORRECT
What happens during the prototype test? - Answer- Develop an inexpensive, rapid
prototype. Do a prototype roadshow. Refine the minimum-feature set. Check the crucial
tests of your hypotheses.
What happens during the solution test? - Answer- Validating the solution. If you get it
wrong, adjust or move on. Testing price point and asking breakthrough questions.
What is the confirmation trap? - Answer- The tendency to see what we already believe
and discard evidence to the contrary. Blocks the intellectually honest learning and is
deadly to startups.
What is the motivation trap? - Answer- When an entrepreneur stakes his hopes,
dreams, and reputation on a startup. Also known as the problem of sunk cost and leads
to irrational decision making.
T/F: Expert novice has a knowledge and confidence but always has doubts that they
may be wrong. - Answer- TRUE
What the business model canvas looks like - Answer- .
What is the first step in starting a business? - Answer- Make a killer product and make
everyone you know buy it
Analyzing and understanding different users helps add value to a customer profile. -
Answer- .
What is feature creep syndrome? - Answer- The tendency to add more and more
features to the product thinking it will increase sales.
What is the different between a shark bite and a mosquito bite? - Answer- Mosquito: a
pain that is merely a nuisance. Some will put up with it, some will buy a product to fix it.
Shark: A pain so large that everyone will buy a product to fix it.
Three myths of entrepreneurship - Answer- 1. Hero
2. Process
3. Money
AND ANSWERS ALL CORRECT
What happens during the prototype test? - Answer- Develop an inexpensive, rapid
prototype. Do a prototype roadshow. Refine the minimum-feature set. Check the crucial
tests of your hypotheses.
What happens during the solution test? - Answer- Validating the solution. If you get it
wrong, adjust or move on. Testing price point and asking breakthrough questions.
What is the confirmation trap? - Answer- The tendency to see what we already believe
and discard evidence to the contrary. Blocks the intellectually honest learning and is
deadly to startups.
What is the motivation trap? - Answer- When an entrepreneur stakes his hopes,
dreams, and reputation on a startup. Also known as the problem of sunk cost and leads
to irrational decision making.
T/F: Expert novice has a knowledge and confidence but always has doubts that they
may be wrong. - Answer- TRUE
What the business model canvas looks like - Answer- .
What is the first step in starting a business? - Answer- Make a killer product and make
everyone you know buy it
Analyzing and understanding different users helps add value to a customer profile. -
Answer- .
What is feature creep syndrome? - Answer- The tendency to add more and more
features to the product thinking it will increase sales.
What is the different between a shark bite and a mosquito bite? - Answer- Mosquito: a
pain that is merely a nuisance. Some will put up with it, some will buy a product to fix it.
Shark: A pain so large that everyone will buy a product to fix it.
Three myths of entrepreneurship - Answer- 1. Hero
2. Process
3. Money
