ENT 526 Study Guide - Midterm Guide: Blue Ocean Strategy, Bottom 10, Cirque Du Soleil

• School: Ryerson University
• Department: Entrepreneurship and Strategy
• Course: ENT 526
• Professor: Sean Wise

Document Summary

Entrepreneur: jean-baptiste (creating value, schumpeter (agent of change/creative destruction, drucker (exploiter of opportunity, kirzner (alertness) Customer centric: other things to look for. Access to customers/resources: intersection of access to customers, domain knowledge, 10x advantage. Characteristics of successful entrepreneurs: internal locus of control, post facto success, creative destruction, 10x solutions, high adversity quotient. Business model: how a business functions, revenue model - cost model. Business model canvas: key partners, key activities, key resources, uvp, customer segments, customer relationship, channels, cost, revenue. Lean startup canvas: problem, solution, key metrics, uvp, unfair advantage, customer segments, channels, cost, revenue. Customer development: customer discovery (finding problem/solution fit, customer validation (finding product/market fit mvp, customer creation (drive demand, company building (scale) Hypothesis design: in the negative, testable, etc. Hypothesis testing: envision concept, generate business model hypothesis, test hypothesis using mvp. S curve: valley of death, problem/solution fit, product/market fit, scale. Elevator pitch: irrefutable, greed inducing, easily understandable, succinct. Pirate metrics: acquisition, activation, retention, revenue, referral.