Pre midterm- Prac

Question 1

What is a startup?

Answer 1

• New & Innovative
• Technology based
• Exponential Growth/ Scalable
• VC funded
• Team of founders

A startup is an organization formed to search for a repeatable and scalable business model

Question 2

How VCs evaluate Startups?

Answer 2

POCD Framework

Question 3

POCD Framework

Answer 3

People
Deals
Oppportunities
Context

Question 4

Edward de Bono
SIX THINKING HATS

Answer 4

WHITE- Data, Facts, Information
RED- Feelings, Instinct, Intuition
BLACK- Difficulties, Problems, Mistakes
YELLOW- Benefits, Why it works, Why is valuable
GREEN- Alternatives, New possibilities, Creativity
BLUE- Manages process, Facilitator, Next Steps

Question 5

A beachhead market is

Answer 5

where, once you gain a dominant market share, you will have the strength to attack adjacent markets with different offerings, building a larger company with each new following.

Question 6

3 CONDITIONS TO BE A (BEACHHEAD) MARKET

Answer 6

1. Customers Buy Similar Products
2. Customers have** same Sales Cycle & Expect same Value**
   - The Sales team have little loss of productivity selling to a different customer
3. Word of Mouth between Customers

Question 7

WHAT’S THE IDEAL
BEACHHEAD MARKET?

Answer 7

1. Target is Well-funded
2. Readily accessible to your sales force
3. Target has compelling reason to buy
4. You today, with the help of partners, can deliver a whole product
5. No competition blocking the way
6. This segment facilitate entrance in additional segments
7. Market aligns with the values, passions, and goals of founding team

Question 8

Three parts of a good protptype:

Answer 8

1. show dont tell
2. let users on their own
   3.Hides your assumptions from users