Question 1

The pitch deck has replaced the formal business plan in most venues.

Accepted Answer

A) True 
 B)False

Question 2

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

Accepted Answer

A) the Business Model Canvas 
B) Vivid Vision 
C) a back of a napkin sketch 
D) a business brief 
A) the Business Model Canvas 
B) Vivid Vision 
C) a back of a napkin sketch 
D) a business brief

Question 3

Nan presents her plan for a slip-on shoe that is water repellent,inexpensive,and highly fashionable.She believes that the market for the product is "everyone in the city of Seattle." Because of this,she forecasts that she will capture 40 percent of the market.What is the business plan error that Nan is incurring?

Accepted Answer

A) too much fluff in the presentation 
B) no clear product benefits 
C) the exaggerated hockey stick 
D) There is no error.This is a reasonable estimate. 
A) too much fluff in the presentation 
B) no clear product benefits 
C) the exaggerated hockey stick 
D) There is no error.This is a reasonable estimate.

Question 4

How many slides do pitch decks need to have?

Accepted Answer

A) 5 
B) 10 
C) 25 
D) There are no strict rules for pitch deck length. 
A) 5 
B) 10 
C) 25 
D) There are no strict rules for pitch deck length.

Question 5

Santiago created a ______ when he wrote down the vision for his product including the features of the product and target market.

Accepted Answer

A) cash flow statement 
B) feasibility statement 
C) concept statement 
D) market statement 
A) cash flow statement 
B) feasibility statement 
C) concept statement 
D) market statement

Question 6

What is described in the market section of the business plan?

Accepted Answer

A) the industry,business structure,and products and services 
B) a description of potential customers and competitors 
C) the overall description of customers and the implementation plan 
D) the operations and customer service 
A) the industry,business structure,and products and services 
B) a description of potential customers and competitors 
C) the overall description of customers and the implementation plan 
D) the operations and customer service

Question 7

Most startups do not have competition.

Accepted Answer

A) True 
 B)False

Question 8

A 2- to 3-page document outlining the company overview,value proposition,customers,and milestones is referred to as a ______.

Accepted Answer

A) Business Model Canvas 
B) business plan 
C) business brief 
D) feasibility study 
A) Business Model Canvas 
B) business plan 
C) business brief 
D) feasibility study

Question 9

"Launch plan" is another term to describe a ______.

Accepted Answer

A) Business Model Canvas 
B) business brief 
C) feasibility study 
D) pitch deck 
A) Business Model Canvas 
B) business brief 
C) feasibility study 
D) pitch deck

Question 10

The ______ has replaced the formal business plan in most venues.

Accepted Answer

A) pitch deck 
B) Business Model Canvas 
C) feasibility study 
D) business brief 
A) pitch deck 
B) Business Model Canvas 
C) feasibility study 
D) business brief

Question 11

What distinguishes a business plan from other forms of business planning?

Accepted Answer

A) The business plan is for internal use only. 
B) The business plan is less detailed than the pitch deck. 
C) The business plan is more formal. 
D) The business plan does not include a financial forecast. 
A) The business plan is for internal use only. 
B) The business plan is less detailed than the pitch deck. 
C) The business plan is more formal. 
D) The business plan does not include a financial forecast.

Question 12

What is the concept presented by Cameron Herold's book Double Double?

Accepted Answer

A) Vivid Vision 
B) Financial Vision 
C) Exercise Vision 
D) Customer Vision 
A) Vivid Vision 
B) Financial Vision 
C) Exercise Vision 
D) Customer Vision

Question 13

What is the best way,during planning,to determine who your competition is? Why is this necessary and valuable?

Accepted Answer

A competitive analysis is the best way t

Question 14

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

Accepted Answer

A) True 
 B)False

Question 15

How should you discuss your business's weaknesses when writing your plan?

Accepted Answer

A) By the time you're writing a plan,there should be no weaknesses. 
B) Only include them if you already have a plan to fix them. 
C) Avoid mentioning them. 
D) Be honest,but don't dwell on it. 
A) By the time you're writing a plan,there should be no weaknesses. 
B) Only include them if you already have a plan to fix them. 
C) Avoid mentioning them. 
D) Be honest,but don't dwell on it.

Question 16

A Vivid Vision should always be presented as a written document rather than a gallery sketch,photo montage,or video.

Accepted Answer

A) True 
 B)False

Question 17

Most businesses do not need a plan to get started.

Accepted Answer

A) True 
 B)False

Question 18

What planning tool helps entrepreneurs test the possibilities of an initial idea to see if it is worth pursuing?

Accepted Answer

A) the business brief 
B) Vivid Vision 
C) the feasibility study 
D) the market research study 
A) the business brief 
B) Vivid Vision 
C) the feasibility study 
D) the market research study

Question 19

How many blocks compose the Business Model Canvas?

Accepted Answer

A) four 
B) seven 
C) nine 
D) 12 
A) four 
B) seven 
C) nine 
D) 12

Question 20

Of the following,what is the best time to write a business plan?

Accepted Answer

A) when you have the data to prove your concept 
B) when you have the founder team 
C) when you have adequate time 
D) at any time in the formation of the business 
A) when you have the data to prove your concept 
B) when you have the founder team 
C) when you have adequate time 
D) at any time in the formation of the business

The pitch deck has replaced the formal business plan in most venues.

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

How many slides do pitch decks need to have?

Santiago created a ______ when he wrote down the vision for his product including the features of the product and target market.

What is described in the market section of the business plan?

Most startups do not have competition.

A 2- to 3-page document outlining the company overview,value proposition,customers,and milestones is referred to as a ______.

"Launch plan" is another term to describe a ______.

The ______ has replaced the formal business plan in most venues.

What distinguishes a business plan from other forms of business planning?

What is the concept presented by Cameron Herold's book Double Double?

What is the best way,during planning,to determine who your competition is? Why is this necessary and valuable?

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

How should you discuss your business's weaknesses when writing your plan?

A Vivid Vision should always be presented as a written document rather than a gallery sketch,photo montage,or video.

Most businesses do not need a plan to get started.

What planning tool helps entrepreneurs test the possibilities of an initial idea to see if it is worth pursuing?

How many blocks compose the Business Model Canvas?

Of the following,what is the best time to write a business plan?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Filters

Exam 10: Planning for Entrepreneurs

The pitch deck has replaced the formal business plan in most venues.

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

How many slides do pitch decks need to have?

Santiago created a ______ when he wrote down the vision for his product including the features of the product and target market.

What is described in the market section of the business plan?

Most startups do not have competition.

A 2- to 3-page document outlining the company overview,value proposition,customers,and milestones is referred to as a ______.

"Launch plan" is another term to describe a ______.

The ______ has replaced the formal business plan in most venues.

What distinguishes a business plan from other forms of business planning?

What is the concept presented by Cameron Herold's book Double Double?

What is the best way,during planning,to determine who your competition is? Why is this necessary and valuable?

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

How should you discuss your business's weaknesses when writing your plan?

A Vivid Vision should always be presented as a written document rather than a gallery sketch,photo montage,or video.

Most businesses do not need a plan to get started.

What planning tool helps entrepreneurs test the possibilities of an initial idea to see if it is worth pursuing?

How many blocks compose the Business Model Canvas?

Of the following,what is the best time to write a business plan?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Filters