Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Entrp Final
| Question | Answer |
|---|---|
| Mindset | an established set of attitudes that shapes how we see and respond to the world |
| Entreprenual Mindset | ability to take action under uncertain conditions and see opportunity where others see problems |
| Self Leadership | ability to influence and direct your own behavior and thinking |
| Growth Mindset | believing that abilities can be developed viewing failure as a a learning opportunity than a verdict |
| Grit | persisting through repeated failures and setbacks in pursuit of long term goals |
| Resilience | bouncing back quickly after a loss, setback, or failure. An example if seeking new clients after losing some |
| Improvisation | Spontaneously creating or problem solving without prior preparation; adapting in the moment |
| Fear & Creativity | Fear can have a detrimental effect on creativity |
| Opportunity Recognition | centers on solving problems and meeting customer needs- not every idea is an opportunity |
| Latent Need | a need customers do not yet know they have |
| 3 Characteristics of opportunity | Novelty, economic value, and perceived desirability |
| Idea vs Opportunity | Every idea is not an opportunity. For an opportunity to be viable, the idea must have the capacity to generate value |
| Creating Opportunity | Idea generation, creativity and opportunity recognition |
| Product Innovation | a new or improved product |
| process innovation | improving how something is made or delivered |
| incremental innovation | a minor adjustment to an existing product |
| Radical/Architectural Innovation | fundamental or structure changing break through |
| IDEATE | Identify, discover, enhance, anticipate, target, evaluate |
| AEIOU Framework | Activities, environments, interactions, objects, and users |
| Design Thinking | A human centered approach that begins with asking people, "What do you need?" |
| Design Thinking Phases | Empathy, define, ideate, prototype, test (non-linear it is iterative) |
| Prototype Phase | where ideas become concrete actions or products. An early minimal version of the product |
| Golden Rule of Interviewing | actively listen, do not just ask yes/no questions or rigidly follow a script |
| Experimentation and testing that an entrepreneur can do | interview, paper testing, advertising, landing page, usability test, prototype, and preselling |
| Experimentation | validates or disproves assumptions with data; does NOT guarantee profitability or eliminate failure |
| Value of Failed Experiments | if an experiment doesn't produce expected results, it can still provide valuable knowledge and learning opportunities |
| Interview Feedback | ask questions on improvement - do not ignore, stop, or defend. Actively listen |
| Business Model Canvas | Help entrepreneur clarify value, customers, and strategy |
| Parts of the Business Model Canvas | key partners, key activists, key resources, value proposition, customer proposition, customer relationships, customer segments, and channels |
| Consumer | uses the product |
| Customer | pays for the product |
| Mass Market | a broad undefined market |
| Niche Market | a specialized, specific customer segment |
| Multisided Market | serves two or more distinct customer groups (eg. a magazine serves readers and advertisers) |
| Diversified market | serves unrelated customer segments with different needs. Apple Customers include people who buy iPads for kids and computers for adults with desk jobs. |
| Innovation Adopters | innovators, early adopters, early majority, late majority, laggards |
| Crossing the Chasm (Sinek) | moving from early adopters to the early majority on the product adoption curve |
| Demographics | statistical characteristics of a population, education level |
| Entrepreneurial Financing | family, friends, and fools - the earliest informal funding sources. Venture capitalists. Angel Investors |
| Bootstrapping | starting a business using personal funds and existing resources. No outside investors, using what you have |
| 4 Signals of Sellable Founders | Certainty, clarity, control, and charisma |
| Certainty | I believe this works |
| Clarity | you understand it quickly |
| control | I don't get rattled easily |
| charisma | my excitement is contagious |
| Revenue Models | unity, sales, advertising, data, intermediation, licensing, franchising, subscription, professional, utility & usage, freemium |
| COGS | relates to making or delivering the product |
| Operating expenses | Broader expenses |
| Pricing Strategies | Competition led, customer led, loss leader, introductory offer, skimming, penetrating, psychological pricing, fair pricing, and bundle pricing |
| Cost Drivers | COGS and Operating expenses |
| Revenue Drivers | Customers, price, frequency, and selling process |
| Market Opportunity | strong customer interest, a venture must be desirable, feasible, and viable for it to be a good oppurtunity |
| Entrepreneurial Marketing | distinct because it emphasizes interacting with customers, not large budgets or traditional media |
| Key Pitch Components | The Hook, Story Telling, Conviction, Controlled Energy, Proof, Composure, Memorable Close |
| Types of Entrepreneurial Marketing | Low cost, social media, email marketing, guerilla marketing |
| Guerilla marketing | unconventional and sometimes doesn't work |
| Story Telling | if the audience doesn't feel the problem they won't care about the solution |
Created by:
user-2020714