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Assessing Your Business Idea

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Questions and Answers

What method of delivery will Rose Yard Cupcakes use for their vegan cupcakes?

Delivery truck

Electricity powered van (correct)

Bicycle

Scooter

What is one assumption that Rose Yard Cupcakes will assess about their business idea?

Initial marketing efforts will not be needed (correct)

Selling only cupcakes will not help the brand become distinctive

Customers prefer non-vegan cupcakes

Customers will not pay a premium for vegan cupcakes

What will help Rose Yard Cupcakes' brand to be distinctive?

Using imported ingredients

Selling only vegan cupcakes (correct)

Using locally sourced ingredients

Providing non-vegan options as well

What does Rashmi Sinha compare a founding vision for a start-up to?

A scientific hypothesis Signup and view all the answers

Why is it essential to assess your business idea?

To avoid wasting time and resources on an unviable idea Signup and view all the answers

What can happen if entrepreneurs execute their business ideas too early?

They may waste valuable resources Signup and view all the answers

What is the importance of testing a business idea early on?

To make necessary tweaks at an early stage and create a market-desired product or service Signup and view all the answers

What is the risk of waiting too late to launch a business?

The business may miss out on opportunities Signup and view all the answers

Assessing Your Business Idea

Choose a study mode

Podcast

Questions and Answers

What method of delivery will Rose Yard Cupcakes use for their vegan cupcakes?

What is one assumption that Rose Yard Cupcakes will assess about their business idea?

What will help Rose Yard Cupcakes' brand to be distinctive?

What does Rashmi Sinha compare a founding vision for a start-up to?

Why is it essential to assess your business idea?

What can happen if entrepreneurs execute their business ideas too early?

What is the importance of testing a business idea early on?

What is the risk of waiting too late to launch a business?

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