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Entrepreneurship Basics Flashcards | StudBud
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Entrepreneurship Basics
Entrepreneurship Basics
9 terms
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What do you know about entrepreneurship? Play this game to find out!
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
What does the build-measure-learn cycle allow entrepreneurs to do?
Get everything right in a product the first time
Build without stopping to get customer feedback
Make a product perfectly fit their own wants and needs
Quickly revise a product based on feedback
2
Which of these is a
reward
that comes with being an entrepreneur?
Potential business failure
Making your own rules
Loss of income
Loss of quality of life
3
What is
most important
for creating a positive customer experience?
Being proud of your product
Having lots of nice features in your product
Giving away your product for free
Understanding your customer
4
Which of these is a
risk
that comes with being an entrepreneur?
Helping your community
Creating greater wealth
Unexpected obstacles
Doing work you enjoy
5
True or false? A successful product is based on solving a customer problem.
False
True
6
What is an entrepreneur?
Someone who works as an employee for a business
Someone who wants to boss other people around
Someone who creates and runs a business
Someone who doesn't want to work for a living!
7
Which of the following is
not
one of the three C's of a business plan?
Cost
Concept
Capital
Customer
8
True or false? Some businesses have
no
risk at all.
False
True
9
Which question
must
an entrepreneur answer before pursuing a business idea?
Is my business something for everybody?
Does this business pose no risks at all?
Will this business make me a millionaire?
Will the rewards of this business outweigh the risks?
