Chapter 1 Pretest and Appendix-B Test
The pitch deck process is designed to: - engage the audience to generate interest - secure commitment - secure investment when appropriate - all of these
All of these
Without answers to this question, a pitch deck will fail to convince stakeholders to become involved in the business. - Who is the customer? - What is the revenue/expense model? - What is the problem/need? - All of these
All of these
Which of the following is a common myth surrounding entrepreneurship? - Entrepreneurs are risk takers. - Most successful entrepreneurs have spent a long time in their industry. - Entrepreneurs more frequently collaborate than compete. - Entrepreneurship is an innate set of skills, it cannot be taught.
Entrepreneurship is an innate set of skills, it cannot be taught.
This is one of the biggest mistakes usually made by entrepreneurs during a pitch
Failure to plan time for questions at the end
T/F: Pitch decks can vary widely in size, style, and content of the material presented, depending on what the entrepreneur wants to emphasize. There are no requirements.
False
T/F: The majority of successful entrepreneurs complete formal business plans.
False
______ is a process of creating new products, ventures, processes, or renewal within large organizations.
Intrapreneurship
______ are entrepreneurs who start a business as a means of economic survival.
Necessity-based entrepreneurs
This subgroup is not included in the Market Opportunity slide in the pitch deck presentation.
RAM
______ are people who start several businesses, sometimes concurrently, sometimes consecutively.
Serial entrepreneurs
Which item defines the portion of the market that your company is likely to reach?
Share of market
______ allows entrepreneurs to make a profit while simultaneously addressing specific problems facing the general public
Social entrepreneurship
This slide in the pitch deck presentation addresses the window of opportunity for new ventures.
Why Now?
What is a use case?
methodology used in the software industry to illustrate how a user will interact with a specific piece of software
This slide in the pitch deck presentation gives examples of all the work you have done to build the venture, including product testing, forming the team, a working website, and a working prototype or minimum viable product. - portfolio - homework - traction - evidence
traction
T/F: The more prepared the entrepreneur is, the better the pitch deck presentation will be.
True
T/F: The pitch deck serves as a story that told to convince the listener that your idea is compelling enough to warrant further investigation.
True
In the TRIM framework, what is the correct name associated with TRIM?
Team, resources, idea, market
Of the 10 most unexpected questions for entrepreneurs listed by Caroline Cummings, this is not one of them. - What entrepreneurs do you admire and why? - can you tell me a story about a customer using your product? - Tell me your educational background - What mistake have you made thus far in this business and what have you learned?
Tell me your educational background
This slide in the pitch deck presentation can also be thought of as the value proposition.
The solution
Through data from the 2015/16 Global Entrepreneurship Monitor report, it is estimated that there are ______ entrepreneurs worldwide.
400 million
A pitch deck could have anywhere from ___ to _____ number of slides
5 to 30
How do the authors of the book define entrepreneurship?
Actions taken by an individual or a group to create something new
In the problem/need slide, it is important to: - describe the problem the company is solving - how the problem is currently being solved by other companies (pointing out any inefficiencies) - prove to audience that the problem is a big one - all of these
All of these
What best categorizes entrepreneurial activity in the era which followed the second industrial revolution?
Corporate entrepreneurship increased
T/F: During the question and answer period at the end of the presentation, the final slide should be showing.
False
T/F: Entrepreneurship can be learned passively
False
T/F: In the past decade, the pitch deck has declined in popularity in favor of the business plan.
False
This financial question would not likely be asked during the question and answer period. - What are the assumptions behind your revenue projections? - How much revenue will the business generate after 10 years? - How much does it cost to acquire one customer? - Are your numbers comparable to those of your competitors?
How much revenue will the business generate after 10 years?
This is a team question that may come up in the question and answer period. - What is the profit level? - Where is the company located? - What is the market strategy? - What obstacles have you faced and how did you overcome them?
What obstacles have you faced and how did you overcome them?
Which question is not typically answered in a pitch deck slide presentation? - Where is the business located? - How will you reach, acquire, and keep the customer? - What is the revenue/expense model?
Where is the business located?
This question may occur with regard to competitors in the question and answer period. - Why hasn't this already been done? - Who will be your first paying customer? - How long can you survive before you turn a profit? - How did you calculate your market size?
Why hasn't this already been done?
Which of the following is a good use for the pitch deck? - To raise start-up capital - Describe the business to a potential investor - used for any stakeholder that has a vested interest in the business - all of the above
all of the above
This slide in the pitch deck presentation answers the question: Why does your company exist?
company purpose/description
This slide in the pitch deck presentation illustrates how the company is different than its competitors, and how it has carved out a unique space that fulfills unmet needs of customers.
competitor analysis and differentiation
