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Questions and Answers
What is the conventional wisdom about the first thing every founder must do?
What is the conventional wisdom about the first thing every founder must do?
- Build a product in collaboration with investors
- Create a business plan containing a detailed customer feedback strategy
- Develop a product with minimal customer input (correct)
- Obtain substantial feedback from customers before raising money
What did Mike Tyson say about opponents' prefight strategies, as mentioned in the text?
What did Mike Tyson say about opponents' prefight strategies, as mentioned in the text?
- Their plans usually focus too much on customer feedback
- Everybody has a plan until they get punched in the mouth (correct)
- They all have a solid plan that works well
- Their plans are designed to adapt to unexpected challenges
What is the lean start-up approach's definition of a start-up, as per the text?
What is the lean start-up approach's definition of a start-up, as per the text?
- A temporary organization designed to search for a repeatable and scalable business model (correct)
- A long-term organization focused on building products in isolation
- An organization looking for short-term financial gains
- A permanent organization designed to execute a pre-determined business model
What is one of the key principles of the lean method?
What is one of the key principles of the lean method?
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What does the business model canvas help entrepreneurs do, based on the text?
What does the business model canvas help entrepreneurs do, based on the text?
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