Final Review - Entr

1. What are the five ingredients of entrepreneurship?

!!!!!

After friends and family, angel investors support up to what percentage of outside equity raised by startups?

90

Venture capitalists:

All of the above: are mostly professional money managers, look for opportunities that return 10 times their investment in 5 years, and often form limited partnership funds

Which of the following is one of the eight components of the practice of entrepreneurship?

All of the above: reflect on your desired impact on the world, start with the means at hand, and describe the idea today

______ is the process of building or starting a business with very little funding or capital.

Bootstrapping

______ involves using the Internet to attract, aggregate, and manage ostensibly inexpensive or even free labor from enthusiastic customers and like-minded people.

Crowdsourcing

Paying attention to this document can avoid legal battles down the road for entrepreneurs.

Founder Agreement

Which P is NOTincluded in the 4 P's of Marketing?

Path

Crowdfunding is such a recent phenomenon that very little research on it has been conducted.

True

The advertising revenue model relies on the amount of revenue gained through ______ products and services.

advertising

The process of raising capital for a new venture from a large audience is called ______.

crowdfunding

The process used to evaluate an investment opportunity prior to the contract being signed is called:

due diligence

If you are giving away something for nothing, you need to make sure you are still:

earning substantial revenue

Over the years, the term angel investor:

evolved to include anyone who uses personal capital of invest in a venture

1. What is the definition of entrepreneurship?

how opportunities are discovered, created, and exploited by whom, and with what consequences

This type of failure can provide valuable new knowledge that can help a start-up innovate and stride ahead of its competition.

intelligent failure

For entrepreneurs, it is important to:

know the law better than any of your competitors

The entrepreneur's dilemma can be described as:

money vs. power trade off

It is essential that entrepreneurs do as much ______ as possible before deciding on a particular form of organization.

research

A ______ is a key component of the business model and identifies how the company will earn income and generate profits.

revenue model

For startups, investors who buy a share of the business can be said to be:

splitting the ownership pie

The two main parts to the perfect pitch include:

the content and the resources

Based on the chapter, there is/are ______ distinct pricing strategies that most businesses use today.

three

Which type of marketing uses big cash investments with a goal of profit maximization?

traditional marketing