Topic 6 Quick Check - Linking Your Experience with the Business Opportunity

In the study mentioned in section 6.2 this week, out of 100 successful entrepreneurs, how many had almost no experience in their industry whatsoever? 10 3 15 20

3

What area or areas did Dave Twombly need to fully understand when he launched Central Coast Disposal? The city The Department of Environmental Quality The Department of Transportation All of the above

All of the above

If you don't have any industry experience at all, what is something you can do to help increase your chances for success? Study the industry passionately. Bring on team members who have experience. Find mentors and advisors who have experience. All of the above will help increase your chances for success.

All of the above will help increase your chances for success.

Why didn't David Herrmann and his wife create pull-up diapers before they existed? They didn't know how to construct a diaper. They didn't understand how to get the product to market. They would have had to spend thousands of dollars figuring it all out. All of the above.

All of the above.

Of the entrepreneurs listed below, who had experience working in a related industry? Bill Bezuk worked in a retail bookstore before opening a retail farm and garden supply store. Nicole DeBoom used the products in her industry often. Jeff Wester was a blacksmith before opening a blacksmith shop. None of the entrepreneurs had related-industry experience.

Bill Bezuk worked in a retail bookstore before opening a retail farm and garden supply store.

What type of experience did Ngozi Opara have by studying cosmetology and working in hair salons for years before launching her hair extension product? Direct industry experience Related industry experience User entrepreneur experience None of the above

Direct industry experience

What experience did Jeff Wester have before starting Ponderosa Forge & Ironworks? His grandpa was a blacksmith. He worked making BBQ grills. He was shoeing horses and working in traditional blacksmithing. He sold metal and iron products to retail companies.

He was shoeing horses and working in traditional blacksmithing.

What experience did Allen Lim have before starting Skratch Labs? He manufactured bicycles and equipment. He worked for a sports drink company. He had no experience. He worked on the pro cycling tour as a sports scientist.

He worked on the pro cycling tour as a sports scientist.

What type of experience did Nicole DeBoom have when she created Skirt Sports, a women's fitness apparel company? She worked in clothing retail for years. She used the products and services all the time. She had many friends who loved high-end clothes. All of the above.

She used the products and services all the time.

Who is best suited to build a business in the automotive manufacturing industry? The person who comes up with the best idea Someone who drives cars for a living Someone who just got a job working in the industry Someone who has worked in the automotive manufacturing industry for many years

Someone who has worked in the automotive manufacturing industry for many years