OLD ENT_L3 Flashcards
(10 cards)
1
Q
What are the top reasons startups fail?
A
- No Market Need
- Ran Out of Cash
- Not the Right Team
- Get Outcompeted
- Pricing/Cost Issues
- Failure often combines multiple factors.
2
Q
Why is market research critical?
A
- De-risk your idea
- Confirm there’s a valuable problem to solve
- Estimate TAM (Total Addressable Market)
- Understand customer acquisition and channels
3
Q
What is Segmentation?
A
- Identify who your users or customers are
- Group them by common needs or traits
- Focus on key characteristics: demographics, location, usage patterns
4
Q
What does JBTD (Jobs to be Done) analysis reveal?
A
- Focus on what users are trying to accomplish
- Understand functional, emotional, and social needs
- Helps shape product features to fit real tasks
5
Q
How can you position yourself in the market?
A
- Highlight differentiating product features
- Emphasise unique characteristics customers care about
- Remember competition can be ‘do nothing’
6
Q
What are the three Market Approaches that work together?
A
- Traditional Market Research
- Design Thinking
- Lean Experimentation
7
Q
Why use Low-Commitment Exploration?
A
- Collect early feedback at low cost
- Examples: user surveys, interviews, or landing page tests
- Aim to test viability before heavy investment
8
Q
What is a low-fidelity prototype?
A
- Simple model to test core assumptions
- Could be paper sketches, cardboard mockups, or role-plays
- Speeds up user feedback gathering
9
Q
What does an Assumption Matrix do?
A
- Lists critical vs. non-critical assumptions
- Prioritises certain vs. uncertain factors
- Guides prototyping and testing efforts
10
Q
Why is failing fast acceptable?
A
- Saves time, money, and effort
- Allows quick adaptation (pivot)
- Encourages a learning mindset rather than fear of failure
