Module 2

Question 1

The start of a road map that will determine where they want to go with their entrepreneurial efforts

What the entrepreneur wants the business to look like in the future.

Answer 1

entrepreneurial vision

Question 2

What are the tools that can help define the entrepreneurial vision?

Answer 2

Vision statement
Mission statement
value proposition

Question 3

What an entrepreneur wants the business to grow into

Answer 3

Vision statement

Question 4

What the venture will do, what value will be provided, and how it will be accomplished

Answer 4

Mission statement

Question 5

A summary statement that conveys the benefits of the product or service provided to customers.

Answer 5

value proposition

Question 6

What are the four types of mentors?

Answer 6

The Sales Mentor
The Operations Guru
The Biz Dev Guru
The Entrepreneur

Question 7

mentor who is killer at sales

Answer 7

The Sales Mentor

Question 8

an operational mind walking through KPIs and leading indicators.

Answer 8

The Operations Guru

Question 9

has a list of contacts rich and deep into your industry and possibly target verticals.

Answer 9

The Biz Dev Guru

Question 10

a leader who has been through many of the same problems that you have, and will often walk you through war stories of how he got the job done

Answer 10

The Entrepreneur

Question 11

is a volunteer-based nonprofit organization with a goal of helping
homeless people reconnect with loved ones.

Answer 11

Miracle Messages

Question 12

What is one approach to developing your vision?

Answer 12

Begin with the end in mind.

Question 13

What are the steps in the creative thinking process?

Answer 13

Preparation: Gather information and collect ideas. Apply divergent thinking to generate as many ideas as possible, even those that don’t seem logical.
Incubation: Walk away from the activity to allow unconscious thought.
Illumination: The moment of realization or insight.
Verification: Crafting the vision statement or message.

Question 14

What are the Creative Thinking Tools

Answer 14

Brainstorming
Divergent Thinking
Mind Mapping
Conducting Research

Question 15

○ Requires that participants generate ideas around the desired topic without judgment.

○ You can do this alone or with others, but including other people provides a greater variety of ideas, as one person’s ideas might trigger another idea from someone else.

Answer 15

Brainstorming

Question 16

○ This allows for more diverse ideas, which may not be associated with the identified topic.
○ As much as we want to encourage divergent ideas, we also want to discourage any judgment around our ideas.

Answer 16

Divergent Thinking

Question 17

○ Here, you create an illustration on paper or a chalkboard.

○ Write down the words that come to mind, then link those words together with lines in a diagram that shows how each word relates to the others. The idea is that one word can lead to another.

Answer 17

Mind Mapping

Question 18

○ Create surveys and ask people questions about their experiences related to your idea.

○ Find secondary data or case studies that focus on a few in-depth, similar areas of interest or perform your own case studies.

Answer 18

Conducting Research

Question 19

someone who takes on daily management as the owner of the venture.

Answer 19

Career Entrepreneur

Question 20

are well-structured and defined goals

Answer 20

SMART goals

Question 21

What are SMART goals?

Answer 21

Specific: precise rather than broad.
Measurable: quantifiable to test if met.
Achievable: attainable with effort.
Relevant: suited for what you want to accomplish.
Timely: must have a defined deadline.