L2- M5

Entrepreneurs who don't do this, end up creating a failing startup

• Have abundant amount of cash in the bank

• Get customer opinions via a pretotype

• Ask the customer what solution they would like for the issue at hand

• Tell the customer your solution and ask them if they would be happy to pay for it

A pretotype is

• created to get customer reviews on a new product

• used to collect YODA

• a little heavy on the pocket

• created to get customer reviews on an existing product

Match the following:

1. Pretotype

2. Prototype

• 1. Can we sell it?

  2. Can we make it?

• 1. Can we make it?

  2. Can we sell it?

• 1. Can we improve it?

  2. Can we solve it?

• 1. Can we build it?

  2. Can we improve it?

Pretotyping helps in reducing

• Team risk

• Capital risk

• Technological risk

• Market risk

Innovation with fast testing minimizes ________