What is not a step in the original process of narrowing down your list to the best five business ideas?
Make sure the business idea is very exciting to you.
Make sure the business idea is logical.
Make sure the business idea is ranking high on the list.
Make sure the business idea hasn’t been done before.
Which discovery will help you with your new business idea?
Discover people’s pain.
Discover what other people are wanting and needing.
Discover business annoyances.
all of these answers
What is not the best starting point when it comes to finding your new business idea?
Find the gifts you were born with.
Find the things that you love and enjoy doing.
Find the skills and the knowledge you acquired over time.
Find lists online of the businesses that you can create.
A _____ advantage, like a patent or a trademark, can add a tremendous amount of value to your business idea.
The _____ number is overhead divided by the contribution margin. This is what you need to double every month to make sure your business is highly profitable.
Think twice before immediately seeking out a _____ who has a skill that you lack.
Which opportunity factor is referred to as market size?
In order to test the business opportunity you have chosen, you need to create a _____ before you invest any money.
micro business plan
What should the Business Validation Micro Plan list?
all of these answers
budget for test
most likely customers
If you run your test, and all results are successful, what should you do next?
Go find an investor to give you a loan.
Run a new test, this time focusing on price.
Stop dreaming and get back to work in a real job.
Start selling your product or service.
What has been found to work best for testing a business opportunity that offers services, and can be customized geographically?
none of these
a listing on Craigslist
a website that explains what the business offers
a phone number for people to call and get information about the business
When testing your business idea, who should not be a source to ask for feedback?
sites that run surveys
neighbors in your area that fit you business demographic
people who are in your target audience
your friends and family
The micro-message that you need to set for your business ideas should not _____.
leave people guessing what the business offers
leave people with a clear message about the business
use the most enticing concepts behind the business offer
explain the benefit of the business to the people
When making your list of ideas for a new business, what is something you should avoid?
erasing and editing ideas
writing down business ideas you’ve had in the past
writing down ideas that aren’t thought out all the way through
writing down existing business ideas
In order to finalize your single best business idea out of your top five ideas, you need to take each idea through all of the _ factors to test it.
The process of figuring out if you need to sell the product over the internet, in stores, or face-to-face helps you discover your _ model.
What is an effective way to cheaply test the viability of your business idea?
all of these answers
have a special phone number for tracking inbound calls
have an add run on a local Craigstlist page
have a simple website landing page so you can measure opt-ins
_ like materials, equipment, and money are what you need to assess carefully before you start your business.
What is not a recommended testing option?
pay per click
What is not an opportunity factor that leads to a successful business?
demand on products and services
Attempted incorrect option
resources like equipment and materials
expertise in the industry
a clever business idea
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