ENT 101 FINAL EXAM WITH CORRECT
QUESTIONS AND ANSWERS 2025
NISI Phases - CORRECT-ANSWERS1. Nail the Pain
2. Nail the Solution
3. Nail Go to Market
4. Nail the Business Model
5. Scale it
Traditional Process Method - CORRECT-ANSWERS1. 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
Business model canvas - CORRECT-ANSWERS
3 myths of entrepreneurship - CORRECT-ANSWERS1. process myth
2. hero myth
3. money myth
Reasons why entrepreneurs fail - CORRECT-ANSWERS- 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 - CORRECT-ANSWERScouldn't get anyone to buy it
What are the role of customers vs role of entrepreneurs - CORRECT-ANSWERScustomers
validate, entrepreneurs innovate
Three types of customers - CORRECT-ANSWERS1. end user customers
2. technical customers
3. economic customers
end user customers - CORRECT-ANSWERSthe person uses the product or manages the people
who use it
technical customers - CORRECT-ANSWERSIT person who installs or maintains the product
Economic Customers - CORRECT-ANSWERSthe person who makes the ultimate purchase
decision
QUESTIONS AND ANSWERS 2025
NISI Phases - CORRECT-ANSWERS1. Nail the Pain
2. Nail the Solution
3. Nail Go to Market
4. Nail the Business Model
5. Scale it
Traditional Process Method - CORRECT-ANSWERS1. 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
Business model canvas - CORRECT-ANSWERS
3 myths of entrepreneurship - CORRECT-ANSWERS1. process myth
2. hero myth
3. money myth
Reasons why entrepreneurs fail - CORRECT-ANSWERS- 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 - CORRECT-ANSWERScouldn't get anyone to buy it
What are the role of customers vs role of entrepreneurs - CORRECT-ANSWERScustomers
validate, entrepreneurs innovate
Three types of customers - CORRECT-ANSWERS1. end user customers
2. technical customers
3. economic customers
end user customers - CORRECT-ANSWERSthe person uses the product or manages the people
who use it
technical customers - CORRECT-ANSWERSIT person who installs or maintains the product
Economic Customers - CORRECT-ANSWERSthe person who makes the ultimate purchase
decision
