Page 71 of 76
- Posted by Michael C. Fanning
- Date May 17, 2023
LEARNING OBJECTIVES IN PRACTICE
Developing your problem-solving skills takes time and effort. Here are a few tips to help you improve these skills on and ongoing basis:

PART THREE: LECTURE 3.4 QUIZ
The following quiz will test your understanding of the concepts and their application from Lecture 3.3 “Learn from surroundings, apply creativity quickly and problem-solve”
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Question 1 of 10
1. Question
1. According to research carried out by Wagner and Block, there are two facets of business that motivates emerging entrepreneurs:
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Question 2 of 10
2. Question
2. Further to that research, Wagner and Block established that entrepreneurship had two main drivers:
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Question 3 of 10
3. Question
3. Why is it vital that your business sets the priority for educating your customer base about alternatives to their current consumer habits?
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Question 4 of 10
4. Question
4. During the prototype phase, when should entrepreneurs look at collecting feedback?
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During the prototype phase, when should entrepreneurs look at collecting feedback?
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Question 5 of 10
5. Question
5. Customers often have great expectations about a product or service they desire to acquire—but often they lack the budget to match those expectations. What is your obligation as an entrepreneur in such a case?
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Question 6 of 10
6. Question
6. An entrepreneur must excel in recognizing their enterprise as a space where customers will consistently derive worth and contentment.
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Question 7 of 10
7. Question
7. How can a business decrease the expenditure of time, money, and other valuable resources to reach the break-even point, and eventually, hit profit targets?
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Question 8 of 10
8. Question
8. It is inconsequential for startup founders to be unaware of the daily qualities that their entrepreneurial journey will eventually demand from them in the long run.
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Question 9 of 10
9. Question
9. “The best way to predict the future is to create it.”
As an entrepreneur, this means…
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Question 10 of 10
10. Question
10. How can an entrepreneur find his or her way when it comes to experiencing an incremental decrease in their aversion to risk-taking?
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KEEP DEVELOPING YOUR BUSINESS CREATIVITY
Learn more about how to identify business and market opportunities, how to inspire creative thinking in your team, and how you can test your business idea with real-world customers.
READ:
How to Identify Business & Market Opportunities (hbs.edu)
6 Ways To Inspire Creative Thinking In Your Team (forbes.com)
WATCH:
How To TEST ANY BUSINESS OR PRODUCT IDEA With REAL Customers → 3 Simple Steps – YouTube
Make notes in your business journal. Jot down key points that stood out and which concepts you would like to apply throughout your business creativity process.
END OF LECTURE 3.4
Entrepreneurship
I am a serial entrepreneur and I have been vegetarian for 14 years now. In a nutshell, I start businesses, grow them and retain some ownership before decelerating from all the operational duties involved.
In addition, I am a complete lover of nature. I turned vegetarian at 18 years old. And my mother introduced me to hiking in my teenage years. So, I take random walks in the bushes every now and then. It definitely helps with decision-making in business, too. But it is not all that I am. I am also an aspiring father, husband and Vegan. Did I mention I am Christian?
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