ITB: 2-9 The Entrepreneurial Process, Part 1

What was Sara Blakely's background before starting her business?

• She was a former Disney World ride greeter

• She was a former fax machine salesperson

• She was a former TV show host

• She was a former professional athlete

What was the name of Sara Blakely's invention?

• SPANKS

• SPUNKS

• SPINX

• SPANX

Who promoted Sara Blakely's invention on her show as one of her 'favorite things'?

• Oprah Winfrey

• Ellen DeGeneres

• Martha Stewart

• Tyra Banks

What is the first stage of the entrepreneurial process?

• Resourcing

• Run the Business

• Harvesting

• Discovery

What are the three features needed for an idea to become an opportunity?

• Market, Margin, Mission

• Profit, Product, Promotion

• Sales, Service, Satisfaction

• Innovation, Investment, Implementation

What is included in a business plan or pitch deck?

• Cover slide, Problem, Solution

• Market Size, Business Model, Competition

• Secret Sauce, Marketing/Go-To-Market plan, Your Team

• All of the above

What is the fourth stage of the entrepreneurial process?

• Discovery

• Resourcing

• Run the Business

• Harvesting

What is the most important resource in starting a business?

• Capital

• Technology

• Location

• Marketing

What should entrepreneurs do during the 'Run the Business' stage?

• Watch every penny and manage cash position

• Build systems and processes that are repeatable and trainable

• Offer solutions to potential customers

• All of the above

What is the final stage of the entrepreneurial process?

• Discovery

• Resourcing

• Run the Business

• Harvesting