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Technopreneurship > Mindsetting - Module 1 > Flashcards

Mindsetting - Module 1 Flashcards

1
Q

a highly technological and innovative region in California, U.S.

A

Silicon Valley

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2
Q

is the birthplace of many of our successful brands–Google, Apple, Microsoft and Hewlett- Packard (HP).

A

Silicon Valley

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3
Q

is the birthplace of many of our successful brands–Google, Apple, Microsoft and Hewlett- Packard (HP).

A

Silicon Valley

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4
Q

one of US’ top universities in terms of research and innovation

A

Stanford University

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5
Q

year the Stanford Industrial (now Research) Park was established

A

1951

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6
Q

It was a highly sought-after space where companies hire Stanford’s best students, industry practitioners teach courses in Stanford and professors are consulted by these companies.

A

Stanford Industrial (now Research) Park

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7
Q

How large in acre is the research park?

A

700-acre

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8
Q

A ___ is a company in the initial business stage.

A

Startup

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9
Q

It is focused on solving a specific problem of a specific market using innovative approaches

A

Startup

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10
Q

Startup companies are usually financed by ___ and is still seeking external investments.

A

its founders

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11
Q

Depending on its network, startup company can be funded by… (give 5)

A

angel investors, venture capitalists, crowdfunding, credit or even family and friends.

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12
Q

provides initial seed money for startup businesses, usually in exchange for ownership equity in the company.

A

angel investor

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13
Q

a private equity investor that provides capital to companies with high growth potential in exchange for an equity stake

A

venture capitalists

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14
Q

Someone who invest their own money in a startup business is a Venture capitalist or an Angel investor?

A

Angel investor

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15
Q

A firm’s fund that has been used to invest in a startup business is called a Venture capitalist or an Angel investor?

A

Venture capitalist

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16
Q

Is a practice of funding a startup business by means of raising money from a large number of people, typically via the internet.

A

Crowdfunding

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17
Q

ToF. Chances that a startup may fail in its first year is very low

A

False

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18
Q

ToF. According to Forbes, almost half of the reasons why startup companies fails are related to customers.

A

True

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19
Q

Negation for the recipe for a startup failure

A

Involve the customers
Listen to feedback
Meet their needs
Do not ignore them

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20
Q

Out of 20 reasons of failure for startup businesses presented by Forbes, how many of them are related to the people inside the organization

A

Seven

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21
Q

Startup failure related to the people inside an organization is…

A

Not having the right people to build the MVP* or to create a sustainable business

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22
Q

Out of 20 reasons of failure for startup businesses presented by Forbes, how many of them are related to the lack of money.

A

Two

23
Q

Meaning of MVP

A

Minimum Viable Product

24
Q

Is a development technique in which a new product is introduced in the market with basic features, but enough to get the attention of the consumers.

A

Minimum Viable Product

25
Q

Who coined Four (4) Founder Mindsets that every newbie entrepreneur must learn in order to succeed with their startup:

A

Carlo Valencia, Founder and Facilitator at Startup PH Training

26
Q

Four (4) Founders Mindset

A
  1. Find Users / Customers Before Building
  2. Founders don’t have plans to execute, they have assumptions to test
  3. Everything is an experiment, and
  4. You will fail.
27
Q

those who pay for the products and services of the startup are called…

A

Customers

28
Q

Those who don’t pay for the products and services of the startup

A

Users

29
Q

Who coined 5 Principles of Lean Startup

A

Eric Ries, an American Entrepreneur

30
Q

the core of the Lean Startup methodology

A

Build-Measure-Learn feedback loop

31
Q

that version of a new product a team uses to collect the maximum amount of validated learning about customers with the least effort

A

Minimum Viable Product

32
Q

Who wrote the book “Mindset: The New Psychology of Success”

A

Carol Dweck

33
Q

theory of the two mindsets

A

Fixed Mindset vs Growth Mindset

34
Q

People who have special qualities that are not cultivated, and never improved are in the category of …

A

Fixed Mindset

35
Q

They don’t take tasks with high risk of failure because they are afraid of failure

A

Fixed Mindset

36
Q

people with ___ like to take on new challenges

A

Growth Mindset

37
Q

They are very persistent and see effort as a way to master their craft and improve their special qualities

A

Growth Mindset

38
Q

This __ is what we believe Startup Founders should have, always ready for the challenge and never giving up no matter how hard times can be for their team.

A

Growth Mindset

39
Q

Is a human-centered approach of solving problems.

A

Design Thinking Mindset

40
Q

Five phases of Design Thinking Framework

A

Empathy, Define, Ideate, Prototype and Test

41
Q

It is an iterative process where founders can go back to a specific phase after the Test Phase whenever necessary.

A

Design Thinking Framework

42
Q

At this phase, founders identify who their target customers are and try to understand their needs

A

Empathy phase

43
Q

During empathy phase, founders must….

A

Identify what tasks the customers do
What challenges
How customers solve

Experience firsthand, interview the customers and create a persona of who the customers are

44
Q

Phase in Design thinking framework where founders will create a Customer Persona

A

Define phase

45
Q

In this phase, founders can brainstorm and generate as many ideas as possible that can help solve those challenges.

A

Ideate phase

46
Q

During this phase, the team’s goal is to collect the good ideas they all believe can solve the problem.

A

Ideate phase

47
Q

The chosen ideas from the brainstorming will be built

A

Prototype phase

48
Q

ToF. Prototype should be made with expensive and good-quality materials so that founders perceive the most viable option.

A

False

49
Q

The goal in this phase is to quickly build a tangible prototype that they can easily bring to their customers to get feedback.

A

Prototype phase

50
Q

At this phase, the founders will show to the customers the developed prototypes

A

Test phase

51
Q

The results of this phase will determine whether to pursue the idea or pivot to a new idea.

A

Test phase

52
Q

ToF. Prototype may be built using papers, cardboards, glues, tapes or even role play the idea

A

True

53
Q

It is a term used by founders to refer to a fictional profile that represents a particular target customer

A

Customer Persona

Technopreneurship (7 decks)

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