W2

Question 1

Refers to delivering solutions that solve real customer problems effectively

Answer 1

Value Creation

Question 2

Key Aspects of Value Creation

Answer 2

• Innovation
• Market Fit
• Scalability
• Competitive Advantage

Question 3

Scientific approach to building startups with minimum resources

Answer 3

Lean Startup Approach

Question 4

Key Principles of The Lean Startup Approach

Answer 4

• Build-Measure-Learn Cycle
• Minimum Viable Product (MVP)
• Pivot or Persevere

Question 5

Steps in Customer Discovery and Validation

Answer 5

1. hypotheses about customers and needs
2. interviews and surveys
3. MVP and gather feedback
4. iterate base on customer insights

Question 6

9 Key Components of the Business Model Canvas (BMC)

Answer 6

1. Value Proposition 💸
2. Customer Segments 🧑‍🧒‍🧒
3. Channel 📺
4. Customer Relationships 🫂
5. Revenue Streams ♻️
6. Key Resources 🔑
7. Key Activities 🔫
8. Key Partnerships 👯
9. Cost Structure 🏗

Question 7

A systematic approach to identifying opportunities, reducing risk and scaling innovation

Answer 7

Entrepreneurial Method

Question 8

Key Elements of Entrepreneurial Method

Answer 8

• Experimentation
• Learning from failure
• Iterative Improvement
• Resourcefulness