1

This is the main reason to start a startup:

Group of answer choices

Work with your friends.

Make money.

Have control of your time.

Solve a particular problem.

Execute on your ideas.

2

This is true about startups:

Group of answer choices

Having a winning idea is the hard part.

Executing on an idea is the easiest part.

Having a great idea is more important than making that a reality.

Bringing an idea to life is more important than the idea itself.

3

This is true about ideas:

Group of answer choices

A great idea survives poor execution.

Most great companies start with a great idea.

A terrible idea is fixed with great execution.

Most profitable companies start with a poor idea.

4

These are all true about evaluating ideas, except:

Group of answer choices

There is little advantage about long-term thinking of ideas

Considers size and growth of the market.

The growth strategy for the company.

The defensibility strategy.

It must consider much more than just the product.

Consider how difficult it is to replicate.

5

Plans are worthless. The exercise of planning, however, is truly valuable, and totally missing in most startups today.

Group of answer choices

True

False

6

These are all false about ideas, except:

Group of answer choices

The startup should come first, and the idea should come second.

It is important to launch a startup with the first idea you have.

Choose the idea that is always on your mind, when not thinking about work.

Better than going with an idea you love, is to start fast.

Poor founding ideas are mission oriented.

7

What are derivative companies?

Group of answer choices

Innovative startups.

Those hiring contractors to work on exciting ideas.

Mission driven organizations focusing on dated ideas.

Those that copy existing ideas with very few insights.

8

These are all true about coming up with ideas, except:

Group of answer choices

You should avoid ideas that can give you a monopoly.

The best ideas often look terrible at the beginning.

You want an idea that turns into a monopoly.

You have to find a small market in which you can get a monopoly, and then quickly expand.

You want an idea that not many people are working on.

It is okay if your idea doesn’t sound big at first.

You need a market that is going to be big in 10 years.

It is better to invest in a company that's going after a small, but rapidly growing market, than a big, but slow-growing market.

10

These increase your chances of success, except:

Group of answer choices

Getting to know potential cofounders.

Focusing on the market first.

Concentrate on turning a great idea into a great product.

Work on PR, raising money, hiring, and business development should take most of your time in the beginning.

Build something that users love.

11

Most startups die from competition.

Group of answer choices

True

False

12

Few startups die, because they fail to make something users love.

Group of answer choices

True

False

13

Very few startups die from competition.

Group of answer choices

True

False

14

Most startups die for not making something users love.

Group of answer choices

True

False

15

Starting with something simple is an easier way to make a great product.

Group of answer choices

True

False

16

These are all true about the beginning, except:

Group of answer choices

Recruiting feedback users with ads is better than trying to get them by hand.

Being fanatical about the product and quality of the small details is a good thing.

Make a small group of users love you and your product, and they will get your next users.

Create a feedback loop that is super tight, so you can turn feedback into product decisions quickly.

17

Your startup will build whatever you decide to measure.

Group of answer choices

True

False

18

These are the four common reasons people start a startup, except:

Group of answer choices

It is glamorous.

It is easy and cheap.

You will get to be the boss.

You will have flexibility.

You will have the chance to have bigger impact and make more money than you might by joining a later stage company.

19

The path to success with your startup can be very stressful, this is not one of the reasons:

Group of answer choices

You have a lot of responsibility.

Fear of failure for yourself, and the people following you.

You must decide among the many perks for your employees.

You are always on call, if something comes up.

Unwanted media attention

20

Starting your own startup allows you to have more impact and make more money than you would with joining a late start company.

Group of answer choices

True

False

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