1.09 (G) Module 1 Quiz - Products, Pitches and Pivots
Module 1 Quiz: Products, Pitches and Pivots
TOTAL POINTS 10
1.
Question 1
Which of the following describes the Lean Approach?
All of these options are true
The lean approach is a method for dealing with the inherent uncertainty in entrepreneurship
Helps entrepreneurs minimize cash burn while learning about their market
Entails running tests on your minimal viable product, pivoting, and achieving product market fit
1 point
2.
Question 2
Which of these would not be an approach to a Minimal Viable Product?
Business Model Canvas
Surveys
Prototypes
Smoke Tests
1 point
3.
Question 3
Which group is the most important to interview?
Members of the press
Potential beachhead customers
Follow-on customers
People you have access to
1 point
4.
Question 4
Which of the following can you not learn from customer interviews?
What alternatives people considered when trying to decide how to solve a problem
What frustrates people about a problem
How people solve a problem today
The price you should charge
1 point
5.
Question 5
A good hypothesis is:
True and Accurate
Falsifiable and Testable
Easy and Fast
Complex and Multi-stepped
1 point
6.
Question 6
Which of the following is an example of a strong “high concept pitch”?
The “Uber” for dogs
The “Zocdoc” for teachers who shop at Whole Foods
The “AirBNB” of “LinkedIn”
The “Facebook” for professionals
1 point
7.
Question 7
Which is NOT a category of risk you should consider before taking the leap to start a venture?
Unknown Knowns
Known Unknowns
Known Knowns
Unknown Unknowns
1 point
8.
Question 8
pay more attention to the style of your pitch, _ pay more attention to substance.
Venture Capitalists / Private Equity Companies
Private Equity Companies / Angel Investors
Venture Capitalists / Angel Investors
Angel Investors / Venture Capitalists
1 point
9.
Question 9
Making your product seem visionary can help with:
Decreasing competition
Showing your product is easy to make
All of the options are true
Making your product seem plausible
1 point
10.
Question 10
Which of the following is a potential method to limit the chances of needing to pivot?
Consider several possible alternatives from the outset and conduct research to determine the solution to focus on
Pivoting is inevitable in entrepreneurship, there is nothing you can do to limit the chances of it occurring.
Commit significant time and resources to studying all possible solutions, even if not viable, before selecting a solution to focus on
Work to develop a potential product or solution prior to conducting in depth research and analysis
1 point
