This quiz was written by Greg Gianforte, founder of RightNow Technologies. It's a great way to think about your innate startup skills.
1. What should you do first?
a. Write a business plan and then try to raise money
b. Call lots of people to understand the issues in your market;
c. Develop a prototype of your product idea;
d. Hire a marketing consultant
2. You have an idea. What next?
a. Implement the business plan;
b. Rent office space and buy used furniture;
c. File for a patent;
d. Fax or email your idea to 300 people and then call them.
3. You have a good product. Next?
a. Find a good lawyer to protect your idea.
b. Build a prototype and you personally start selling.
c. Try to raise money.
d. Hire a salesperson to sell your product.
4. You find a prospect. Next?
a. Explain that you would like to have them join your beta test program.
b. Try to get them to place an order;
c. Tell them you don't have the product available yet;
d. Tell them about all of the features you are going to add to the product.
5. Your product does not do everything a prospect wants. You should?
a. Tell them it won't do those things;
b. Get them to pay for the enhancements;
c. Take the order and tell them it will ship in four weeks;
d. Explain why those things are difficult to do and convince them to buy the current product.
6. A major publication calls, saying they are writing a big article about your product and they want you to buy an ad in the same issue of their magazine. You have enough money for the ad, but not much more. You should:
a. Buy the ad;
b. Tell them your advertising budget is already committed;
c. Tell them you don't have enough money;
d. Tell them to get lost.
7. You are still getting started and Dun & Bradstreet is asking for company info and detailed financial data. You should:
a. Give them the information;
b. Politely decline;
c. Refer them to your accountant;
d. Don't return their call.
8. A major prospect says they want to fly out and visit you, but you are still working out of your house. You should:
a. Tell them you are just getting started and don't have an office that will accommodate a visit;
b. Rent office space prior to the visit and get your family and friends to occupy all the desks;
c. Tell them you will be traveling the same week they want to visit;
d. Borrow your accountant's office and hang your shingle over theirs the day of the visit.
9 You are the only person working fulltime in the business and you are asked how many employees you have. Tell them:
c. just me
d. We have five people involved in the business.
10. You have just made your first sale and generated your first monthly profit. You should:
a. Give yourself a raise;
b. Get a bigger office;
c. Throw a party;
d. Hire a consultant.
The challenge of these kinds of things is to really try and work out answers - so I will wait until later in the week to post Greg's.