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ENTREPRENEURSHIP 2, 1.09 (G) Module 1 Quiz - Products, Pitches and Pivots

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



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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


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