BizInnovator Startup - Intro

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Entrepreneur

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an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

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Pick the best definition for: Startup

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a temporary organization that searches for a repeatable and scalable business model

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Pick the best definition for: Small Business

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Started to fill a gap or provide a service, be your own boss.

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Pick two essential characteristics of successful entrepreneurs: Passionate and Determined, Profit-Oriented and Independent, Formally Educated and Driven, Extroverted and Aggressive

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Passionate and Determined

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True or False: The Business Plan and Business Model Canvas are static documents that are written early in the planning phase.

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false

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True or False: The Business Plan is a visual summary of the business model, often on one page.

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False

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The ______________________ is/are often required by potential investors, lenders, and other financial stakeholders prior to investing money or other assets into the new business venture.

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Business Plan

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Select all of the following that are NOT descriptions of a Business Model Canvas: i. Formal document ii. Updated once a year iii. Focuses on understanding the problem iv. Required by investors and bankers v. Focuses on getting to know the customer

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i, ii, iv

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Select all of the following that are NOT descriptions of a business plan:
i. Required by investors and bankers
ii. Formal narrative
iii. One-page summary
iv. Provides the details
v. Updated often

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iii, v

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What is the primary objective of the early stage entrepreneurial pitch? Options: All of the above, Information sharing, To measure interest, To gather feedback

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All of the above