5.10.9: Review Questions

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What is pivoting?

How is pitching different in the lean startup method?

What is the lean startup process?

What are some examples of an MVP?

What is the success rate of businesses in the first two to ten years of life in the United States?

How can an entrepreneur learn from failures?

Which gender experiences more fear about opening a business? Why do you think it they are more fearful?

What are some of the realities of business ownership?

How can entrepreneurs deal with these negative realities?

10.

What percentage of businesses last five years or more?

11.

What percentage of US businesses are minority owned?

12.

What is a lean plan and what are its components?

13.

What are some of the items or sections that do not have to be included in a lean plan?

14.

What kind of lifecycles do businesses go through? Why?

15.

How does each phase affect business decisions?