ENT 101 FINAL QUESTIONS WITH VERIFIED
ANSWERS
America is - Answers - an incubator for entrepreneurship
Farmers came to America for - Answers - Entrepreneurship and religious freedom
pursuit of happiness - Answers - meant entrepreneurship
in as much as ye shall keep the commandments of God, ye shall prosper is said how
many times in BOM? - Answers - 33
The american dream requires - Answers - rules and laws to be followed
Joseph is an analogy of? - Answers - America
Entrepreneurship is the primary driver of - Answers - innovations and quality of life.
-drives economic growth
Entrepreneurs play a huge role in - Answers - changing the world though growth and
innovation
productive efficiency - Answers - use of resources in least costly way
allocative efficiency - Answers - produce what society wants
creative destruction - Answers - the essential fact about capitalism
-creating new things to disrupt the old way of doing things
kickstarter - Answers - Website created to help fund people
young and new companies are - Answers - the primary job creator
entrepreneurship eliminates - Answers - perceived/real biases
entrepreneurship is the primary driver of - Answers - philathropy
entrepreneurs median charity is - Answers - 50% higher than non ents
startup - Answers - a new business that is getting started
side hustle - Answers - part time business- startups often start off like this
franchise - Answers - run a business that was already started (ex: chip)
, small business - Answers - business that is not trying to scale
seed funding - Answers - earliest investment $ into a new startup. used to validate,
prototype, informal investing
venture capital - Answers - equity investment.
- ownership of a company
- used for early stage and growth companies.
- large amounts of risk
- pension funds invest in venture capital
Matt alexander - illumibowl - Answers - founded illumibowl on kickstarter
- later went on shark tank
- have a 4x markup
- have very clear agreements
Logan bailey - fuse - Answers - lots of prototyping. kept searching for an idea
- used kickstarter
Angel Investors - Answers - and individual who is rich and has money to invest
- must make 250k a year or have 1million net worth
Series A/b/c - Answers - - series A is the first round of investing- other rounds occur
when the company is reevaluated
debt financing - Answers - getting money from the bank
- can't be used for tech because software isn't tangeable
-cheapest form of $
boot strapping - Answers - when entrepreneurs decide to finance their own ventures
sweat equity - Answers - ownership earned in lieu of wages
IPO (initial public offering) - Answers - The first time a company sells shares of its stock
to the public.
- company has to provide quarterly reports
- can be oppressive- entrepreneurs must always show what they are doing
mergers and acquisitions - Answers - -public companies buy private companies with
stocks and $
- can lead to employment and options
- companies may do this for talent
private equity - Answers - buy existing company that are already successful and sell
them in 3-5 years for more $$
ANSWERS
America is - Answers - an incubator for entrepreneurship
Farmers came to America for - Answers - Entrepreneurship and religious freedom
pursuit of happiness - Answers - meant entrepreneurship
in as much as ye shall keep the commandments of God, ye shall prosper is said how
many times in BOM? - Answers - 33
The american dream requires - Answers - rules and laws to be followed
Joseph is an analogy of? - Answers - America
Entrepreneurship is the primary driver of - Answers - innovations and quality of life.
-drives economic growth
Entrepreneurs play a huge role in - Answers - changing the world though growth and
innovation
productive efficiency - Answers - use of resources in least costly way
allocative efficiency - Answers - produce what society wants
creative destruction - Answers - the essential fact about capitalism
-creating new things to disrupt the old way of doing things
kickstarter - Answers - Website created to help fund people
young and new companies are - Answers - the primary job creator
entrepreneurship eliminates - Answers - perceived/real biases
entrepreneurship is the primary driver of - Answers - philathropy
entrepreneurs median charity is - Answers - 50% higher than non ents
startup - Answers - a new business that is getting started
side hustle - Answers - part time business- startups often start off like this
franchise - Answers - run a business that was already started (ex: chip)
, small business - Answers - business that is not trying to scale
seed funding - Answers - earliest investment $ into a new startup. used to validate,
prototype, informal investing
venture capital - Answers - equity investment.
- ownership of a company
- used for early stage and growth companies.
- large amounts of risk
- pension funds invest in venture capital
Matt alexander - illumibowl - Answers - founded illumibowl on kickstarter
- later went on shark tank
- have a 4x markup
- have very clear agreements
Logan bailey - fuse - Answers - lots of prototyping. kept searching for an idea
- used kickstarter
Angel Investors - Answers - and individual who is rich and has money to invest
- must make 250k a year or have 1million net worth
Series A/b/c - Answers - - series A is the first round of investing- other rounds occur
when the company is reevaluated
debt financing - Answers - getting money from the bank
- can't be used for tech because software isn't tangeable
-cheapest form of $
boot strapping - Answers - when entrepreneurs decide to finance their own ventures
sweat equity - Answers - ownership earned in lieu of wages
IPO (initial public offering) - Answers - The first time a company sells shares of its stock
to the public.
- company has to provide quarterly reports
- can be oppressive- entrepreneurs must always show what they are doing
mergers and acquisitions - Answers - -public companies buy private companies with
stocks and $
- can lead to employment and options
- companies may do this for talent
private equity - Answers - buy existing company that are already successful and sell
them in 3-5 years for more $$
