Question 1

Premature Scaling refers to growth in anticipation of demand, instead of demand-driven growth.

Accepted Answer

Premature scaling involves expanding a business based on expected future demand rather than actual current demand, which can lead to inefficiencies and potential failure.

Question 2

According to the Startup-Genome Report, premature scaling does not effect many failed start-ups.

Accepted Answer

Premature scaling is identified as a major factor contributing to the failure of many start-ups, according to the Startup-Genome Report.

Question 3

New ventures should attempt to scale as soon as possible so that they do not lose out on any potential opportunities.

Accepted Answer

Scaling too quickly can lead to operational inefficiencies, financial strain, and a lack of focus on core business aspects. It's important for new ventures to establish a solid foundation before attempting to scale.

Question 4

Webvan is a clear example of the entrepreneurship parable that timing is everything and everything old is new.

Accepted Answer

Webvan was an early online grocery delivery service that failed due to poor timing and execution, but its concept has been successfully revived by later companies like Instacart and Amazon Fresh, illustrating the importance of timing in entrepreneurship.

Question 5

A start-up should only scale after it has gone through all of the following except:&#10;A) The customer development stage&#10;B) Enough pivots to warrant product/market fit&#10;C) A management succession&#10;D) The customer validation stage

Accepted Answer

A start-up should scale after achieving product/market fit and validating its customers, but management succession is not a prerequisite for scaling.

Question 6

According to the Roger's Adoption Curve, a product should not scale until a startup knows all of the following except:&#10;A) Cost per customer acquisition (COcA)&#10;B) Its average revenue per user (ARPU)&#10;C) Its product market fit&#10;D)That its external financing is sustainable

Accepted Answer

Roger's Adoption Curve focuses on understanding the adoption of innovations and does not specifically require knowledge of external financing sustainability before scaling.

Question 7

According to Jim Collins' Hedgehog concept a company should ask all of the following questions to determine what it does extremely well except:&#10;A) Who is the company's target customer?&#10;B) What is the company passionate about?&#10;C) What drives the company's economic engine?&#10;D) What can the company do better than anyone else?

Accepted Answer

The Hedgehog Concept focuses on three intersecting circles: what you are deeply passionate about, what you can be the best in the world at, and what drives your economic engine. The target customer is not part of this concept.

Question 8

A visual interface to track a company's key performance metrics (KPIs) using real time data is referred to as a:&#10;A) Reviewmirror&#10;B) Dashboard&#10;C) Speedometer&#10;D) Steering wheel

Accepted Answer

A dashboard is a visual interface that provides real-time data on a company's key performance metrics (KPIs).

Question 9

Each of the following is a theory regarding how leaders become leaders except:&#10;A) Great Events Theory&#10;B) Traits Theory&#10;C) Transformational Leadership Theory&#10;D) Social Exchange Theory

Accepted Answer

Social Exchange Theory is not a theory about how leaders become leaders; it is a sociological and psychological perspective that explains social change and stability as a process of negotiated exchanges between parties.

Question 10

According to Steven Covey, what are the 7 habits of highly effective people?

Accepted Answer

The answer of According to Steven Covey, what are the...

Question 11

What are the 5 key stages of Dave McClure's Pirate Metrics (AARRR):

Accepted Answer

The answer of What are the 5 key stages of...

Deck 14: Entrepreneurial Growth