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Naked Entrepreneur – Ali Zahid

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The Naked Entrepreneur 404

Watch the video above then take the quiz by using the controls below.

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https://www.youtube.com/watch?v=7pMHjl6lqBc&index=91&list=PLAImK_PQ9xUd7JVp-JRbe7put5zQYEUU0


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Why did Ali decide to change the world even at his young age?

A) For the potential money

B) Because he had drive

C) He was pushed into it

D) He was in school for entrepreneurship

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The correct answer is: Because he had drive.

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What are the three adjectives Ali used to describe the three founders of Vanhawks?

A) Positive, Coachable, Young

B) Passionate, Positive, Driven

C) Hungry, Passionate, Positive

D) Hungry, Coachable, Positive.

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The correct answer is: Hungry, Coachable, Positive.

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Vanhawks has no direct competition as they are both building an OS for their bike and are the first, and only ones thus far, building an interconnected bike. What type of business is this called?

A) Partnership Business

B) Monopoly Business

C) Oligopoly Business

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D) Perfect Competition

The correct answer is: Monopoly Business.

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When Ali was doing door to door sales the one main lesson he learned was to never give up and to never take no for an answer. This is defined as what in entrepreneurship?

A) Adversity Quotient

B) Internal Locus of Control

C) External Locus of Control

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D) Passion

The correct answer is: Adversity Quotient.

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Why did Ali and Vanhawks conduct customer interviews for their product

A) To have data for their business plan

B) Investors made them

C) The product wasn’t selling and they wanted to know why

D) Customer Validation for the product

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The correct answer is: Customer Validation for the product.

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Ali’s parents instilled humble empathy into him and his brother. This made both of them believe that they were meant to change the world.

A) True

B) False

The correct answer is: True.

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Kickstarter is a form of both customer validation and crowdfunding.

A) True

B) False


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Ali doesn’t think company culture matters and also does not believe in hiring to match the current team culture.

A) True

B) False

The correct answer is: False.

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Ali believes that Y Combinator was great for Vanhawks because most of the people had “been there, done that” so they could help solve current company problems.

A) True

B) False


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Ali believes you need to hedge your bets because sticking to one thing and becoming passionate about it is not enough.

A) True

B) False

The correct answer is: False.

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Ali and his brother dropped out of school and started their own business however they choose not to tell their parents right away because they were scared. Ali says his parents believes in both education and finishing a good job. Ali and his brother however felt that they were not getting where they wanted to in school and dropped out to pursue a risky alternative. Because they dropped out they choose not to tell their parents until they had more confidence in the product because it was easier at that point to justify their reasoning for dropping out of school.

Reflect on this decision and think about what you would have done differently. Would you wait to tell your family or tell them right away?

Why?

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