Skills Flashcards

An entrepreneur who successfully convinces investors with a compelling company narrative is using which skill?

Answer: Storytelling

Storytelling helps entrepreneurs communicate vision, build emotional connection, and persuade investors, customers, and talent.

Which leadership style is most effective when an entrepreneurial team has high expertise but needs motivation?

Answer: Delegative (laissez-faire)

A delegative style empowers skilled team members to take ownership, which boosts motivation and leverages their expertise.

What skill does an entrepreneur use when identifying the root cause of a product defect rather than treating symptoms?

Answer: Root cause analysis

Root cause analysis is a problem-solving skill that traces issues back to their origin to prevent recurrence.

A startup founder who creates a 12-month cash flow forecast is demonstrating which financial skill?

Answer: Financial planning and forecasting

Financial planning and forecasting skills allow entrepreneurs to anticipate cash needs and make proactive funding decisions.

Which skill enables an entrepreneur to attract top talent despite limited budget by offering equity and vision?

Answer: Talent acquisition and persuasion

Persuasion and talent acquisition skills help founders compete for top candidates by selling company vision and non-cash incentives.

When an entrepreneur uses a decision matrix to choose between three suppliers, which skill is being applied?

Answer: Structured decision-making

Structured decision-making uses tools like decision matrices to systematically evaluate options against weighted criteria.

What is the primary skill needed to manage a diverse remote team across multiple time zones?

Answer: Asynchronous communication

Asynchronous communication skills ensure remote teams stay aligned and productive without requiring real-time overlap.