Entrepreneurship Pitfalls and Misconceptions

What is a common mistake made by early-stage founding partners?

• Overestimating their product

• Failing to plan for future challenges

• Not having enough capital

• Ignoring market research

Why do many ventures fail despite having a good market and idea?

• Insufficient funding

• Poor partner relationships

• Inadequate technology

• Lack of marketing

What is a potential issue with equal partnerships?

• Too much competition

• Lack of decision-making provisions

• Unequal workload

• Excessive profits

What is a misconception about business plans?

• They are unnecessary

• They are too expensive

• They are easy to create

• They guarantee success

How do business school teachings influence entrepreneurship?

• They encourage creativity

• They promote teamwork

• They focus on practical skills

• They emphasize business plans

What is a pitfall of business plan competitions?

• They encourage over-reliance on plans

• They require too much funding

• They are too competitive

• They are not well-organized

What do expert entrepreneurs say about believing in your own numbers?

• It is essential for success

• It can lead to trouble

• It is a sign of confidence

• It is a minor issue

Why is the future considered unpredictable in entrepreneurship?

• Due to market stability

• Due to economic downturns

• Because of creative actions

• Because of technological advances

What is a key to building a successful venture?

• Strict adherence to plans

• Following competitors

• High initial investment

• Creativity and adaptability

How does unpredictability affect entrepreneurship?

• It simplifies decision-making

• It limits growth

• It encourages innovation

• It reduces risk