class slide before midterm Flashcards
Who makes a “successful entreprenuer”
entrepreneurial mindset
entrepreneurial intelligence
practice curiosity
solve PROBLEMS
COURAGE and the ability to take ACTION
tolerate RISK, assesses RISK
CREATE value
innovation is
remixing options to solve problems
(usually) not Obvious
risky
innovation requires
creativity
courage
design thinking process
empathize
define
ideate
prototype
test
implement
why prototype
best way to test assumptions, learn about users, and improve on your ideas
prototypes are
anything that lets you make your ideas tangible and testable
ex. sketches on a napkin, role play
testing
you are NOT selling. You are looking for insights to help validate or invalidate your assumptions
Customer context
Is it the right user?
Are they grounded in the correct part of the process?
Give permission for negative feedback
testing tips
you should be listening more than talking
engage with users the whole time
leave space for discussion
take notes
do not shoot down any of their ideas
evolution of the prototype
lo-fi, high-fi, MVP
Minimum viable product
should deliver value to the user and solve PART of their problem
product market fit
the solution actually solves the problem
lean startups do not scale up business until they have this market fit
when to pivot
hypothesis is invalidated
validation brings up a bigger opportunity
pivoting
making a change that results in new set of assumptions and hypotheses
