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?

    <p>A scientific hypothesis (A)</p> Signup and view all the answers

    Why is it essential to assess your business idea?

    <p>To avoid wasting time and resources on an unviable idea (C)</p> Signup and view all the answers

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

    <p>They may waste valuable resources (C)</p> Signup and view all the answers

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

    <p>To make necessary tweaks at an early stage and create a market-desired product or service (A)</p> Signup and view all the answers

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

    <p>The business may miss out on opportunities (D)</p> Signup and view all the answers

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