The number one sales and marketing problem in a new-new business, once its product/service is shipping, is:*
Question:
The number one sales and marketing problem in a "new-new" business, once its product/service is "shipping", is:*
1 point
Explaining it, its value proposition, and its use cases to prospects
Looking for ways to reduce costs to increase the profit margin on every sale.
Coming up with many product variations to reach as many customers segments as possible
Trying to keep up with orders so that competitors can't profit with their copy of your product
Buying an existing business, opening as a franchise, or starting a business similar to others (e.g. a restaurant) all avoid the challenges of getting established in the market that a "new-new" startup faces.*
1 point
True
False
Standard business ___________ are built out, along with the organization itself, as sales increase.*
1 point
Three major parallel activities must be successfully executed to move from proof-of-concept to a company that produces and sells its products/services: product design, __________, and marketing.*
1 point
[Checkbox question: the correct answer is formed by selecting 1 to 4 of the options] — An entrepreneurial startup company of the "new idea, new company" model can end it's entrepreneur's journey by:
1 point
Going into creditors' administration (bankrupt)
Joining a stock market (going public)
Continuing as it is: investors are patient and willing to wait.
Selling itself (or being bought) by another company
[Checkbox question: the correct answer is formed by selecting 1 to 4 of the options] — The key advantages of choosing a franchise are:*
1 point
The franchisor invests in marketing and a lower price (to you) supply chain
Customers already know franchise businesses: you benefit from the brand equity to get initial customers
Franchise systems are desperate for new ideas from their franchisees, who act as experimenters.
Banks understand franchise systems and are far more likely to loan you the money to start
The burn rate (cash available / daily expenses) is the entrepreneur's key metric*
1 point
True
False
[Checkbox question: the correct answer is formed by selecting 1 to 4 of the options] — Which of the following do not have to meet the high net worth investor test to buy stock and invest in a new business?*
1 point
Founders
Employees
Friends and families
Venture capital partners
Businesses for sale in a neighbourhood can be accessed via a real estate broker.*
1 point
True
False
The majority of the companies that take the entrepreneur's journey end up trading on a public stock market.*
1 point
True
False
In the early days of selling business-to-business, a company can reach massive sales volumes by:*
1 point
Hiring star salespeople with solid track records who will reach all their old customers with this company's offers.
Crossing the chasm between early adopters and the mass market, and building enough focused reference accounts to unleash mass adoption.
Mass advertising through multiple channels to build demand amongst business customers.
Launching the product/service and acquiring many early adopters, whose influence gets others to buy.
If you buy a business, and you pay more than the equity value of the business, this is shown on the balance sheet as:*
1 point
Goodwill
Cash
A long term liability to be paid out by the business.
An increase in the equity
Although they know they'll only seldom — one time in ten or less — get a unicorn (a company that multiplies its value by (a) ____________ times or more, venture capital firms only invest in companies they think can do that.*
1 point
In the early days of a "new-new" business, safe-to-fail experiments allow the pathway to a viable product to be understood and issues worked out at low cost and with a small team.*
1 point
True
False
Almost all "new-new" companies, and many "new-old" (new company, old idea) companies choose the ____________ legal form, as this allows for equity capital.
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr