"How to Generate a Business Idea" Assessment
By attending the March 20, 2019 New Mexico Rainforest University Center Seminar, "How to Generate a Business Idea" by Sandra Begay, you should have learned how to engage in the brainstorming process, identify opportunities, validate your idea using market research and begin planning using the business model canvas. Complete this assessment to receive credit for attending.
What does creating a “bug” list NOT help you do when generating a business idea?
a. Helps you to see more opportunities to apply creativity
b. Identify things that bug you and problems that could be fixed
c. Identify different species of bugs that live in your area
d. Brainstorm ways in which to improve society
The following are all parts of the business idea generation process: Brainstorming new ideas; Validating those ideas; and Creating a business model canvas. True or False?
Problems = Profits. True or false?
How do you estimate the market size of your idea?
a. Research the estimated market size
b. Conduct a survey to determine customer base for your product/service
c. Conduct general internet searches
d. Use market-centric databases
e. All of the above
f. None of the above
Does UNM have access to valuable databases that you can access using your UNM net ID to conduct market research?
What makes up a good business idea?
a. The product/service has a proven need
b. The product/service is in an area that gives you personal satisfaction
c. You have capability/experience/expertise in the category of your business idea
d. There is a sizeable market for your product/service/idea
e. You are motivated to do what it takes to follow-through on your business
f. All of the above
g. None of the above
Which of the following is NOT a part of value proposition?
a. Satisfying a need
b. Solving a problem
c. Product/service differentiation
d. Customer satisfaction
e. All of the above are important aspects to value proposition
Which of the following is NOT part of the business canvas model?
a. Strategic partnerships
d. Cost Structure
e. Revenue Streams
f. Value Proposition
g. Customer Relationships
i. Customer Segments
j. A Bug list
k. All of the above are part of the business canvas model.
What is your business idea? If you don’t already have one, list some steps you can take to create one.
On a scale of 1-5 how motivated do you feel to pursue your current business idea? (1 being to lowest and 5 being the highest motivation)
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