Ten Question Entrepreneurial Ecosystem Evaluation

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Quiz Questions

1.
ECOSYSTEM TYPE: Entrepreneurial Ecosystems can range from a small group of community stakeholders with a common goal to a large multi-national corporation on the hunt for their next big innovation.
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- A.
  Education Based: Our ecosystem exists within an education framework and is used primarily to teach entrepreneurship principles to students.
- B.
  For Profit Scalable: Our ecosystem is run with the goal of creating and nurturing companies designed to make a profit and have the ability to scale up to many millions of dollars in annual revenues. These are typically technology based companies.
- C.
  Real Economy - Our ecosystem in run with the goal of creating smaller sole-practitioner companies that create real goods and services on a local or regional level providing an income for the owner/entrepreneur and employees.
- D.
  Corporate Operated - Our ecosystem is run by a large corporation for the benefit of that organization to help it innovate and expand product and service offerings.
- E.
  Captive - The ecosystem has a single company at its core with independent entrepreneurs adding value to the company's offerings. Examples of this are the Apple App ecosystem, AirBnB, and the Amazon.com selling platform.
2.
SELECTION: Which statement is the closest to how your ecosystem adds new early-stage companies/people?
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- A.
  Anyone who applies or shows up is admitted.
- B.
  We only admit people who have a rough business idea.
- C.
  We only admit people who have a rough business idea, team, and rough but plausible go-to market strategy.
- D.
  We select only the best candidates based on education level, practical business idea, team compatibility, plausible go-to market strategy and business experience.
- E.
  We select only the best candidates based on education level, practical business idea, team compatibility, plausible go-to market strategy and business experience. They must also have a rough Minimum Viable Product (MVP), We offer a Mentor who is specifically matched to their business idea/sector.
3.
SELECTION: Which statement is the closest to the final step before new early stage companies/people are added to your ecosystem?
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- A.
  There is no final step. Once they are selected they are in.
- B.
  All candidates provide one recommendation which we verify.
- C.
  All candidates provide one recommendation which we verify and at least one of our current ecosystem members must like the business idea, team, or sector.
- D.
  All candidates provide three recommendations which we verify and at least two of our current ecosystem members must like the business idea, team, or sector.
- E.
  All candidates provide three recommendations which we verify and at least two of our current ecosystem members must like the business idea, team, or sector. The team also must go through a three week pre-accelerator to show how the team members work together, if the team can work with mentors, and if they have a strong work ethic and deep passion for their business idea.
4.
EDUCATION: Which statement is the closest to the way you would describe your ecosystem education program?
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- A.
  We have no formal education program for new ecosystem participants with business ideas to develop.
- B.
  We provide a basic small business education program.
- C.
  We provide a minimum eight-week small business education program including break-even analysis to help identify how the business will make money.
- D.
  We provide a minimum twelve-week small business education program including break-even analysis to help identify how the business will make money. We use a lean startup process to pivot and create a Minimum Viable Product (MVP) with product (service)/market fit and fine-tune a company Pitch by the end of the program.
- E.
  Over a minimum three months we achieve these goals: (1) Provide basic business education including break-even analysis and Intellectual Property understanding, (2) Use design thinking principals and a lean startup process to pivot and create a Minimum Viable Product (MVP) with product (service)/market fit and fine-tune a company pitch, and (3) For the startup to achieve first sale and real revenue.
5.
EDUCATION: Which statement is the closest to the way you would describe your ecosystem education program communications process, goal setting, and task completion tracking?
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- A.
  We have no formal communications process.
- B.
  We have a digital communications/coordination system like Slack, BaseCamp, or Microsoft Teams so all stakeholders know what is going on and can stay informed.
- C.
  We have a stakeholder digital communications/coordination system where all stakeholders know what is going on and can stay informed. This platform is also used for weekly goals tailored to the participants and are agreed upon and tracked.
- D.
  We have a stakeholder digital communications/coordination system with; (1) Weekly goals tailored to the participants are agreed to and tracked, and (2) Participants can easily seek help from others when they encounter a roadblock.
- E.
  We have a stakeholder digital communications/coordination system with; (1) Weekly goals tailored to the participants are agreed to and tracked, (2) Participants can easily seek help when they meet a roadblock, and (3) A clear weekly score is generated and visible to all stakeholders for each team to indicate their ability to execute tasks. Also alerts are generated for teams that fall behind.
6.
COMMUNITY: Which statement is the closest to the way you would describe your ecosystem community involvement?
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- A.
  We have no real community or stakeholder involvement or volunteers.
- B.
  Community involvement takes the form of successful entrepreneurs and former program participants who volunteer to lecture and take questions from current participants.
- C.
  Community involvement takes the form of: (1) Successful entrepreneurs and former participants who volunteer to lecture and take questions from current participants, and (2) Entrepreneurship and risk-taking is celebrated in the community. We alsohave a 30+ year history of entrepreneurial success.
- D.
  Community involvement takes the form of: (1) Successful entrepreneurs and former participants who volunteer to lecture and take questions from current participants, (2) Entrepreneurship and risk-taking is celebrated in the community. We also have a 30+ year history of entrepreneurial success, and (3) Ecosystem participants of all types meet on a regular basis to share experiences and tell stories about their individual entrepreneurial journeys.
- E.
  Community involvement takes the form of: (1) Successful entrepreneurs and former participants who volunteer to lecture and take questions from current participants, (2) Entrepreneurship and risk-taking is celebrated in the community. We also have a 30+ year history of entrepreneurial success, (3) Ecosystem participants of all types meet on a regular basis to share experiences and tell stories about their individual entrepreneurial journeys, and (4) There is a generally positive Government policy climate and rule of law standards.
7.
COMMUNITY: Which statement is the closest to the way you would describe your ongoing ecosystem community interaction environment?
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- A.
  We don't have much community and/or stakeholder involvement of any kind.
- B.
  Our entrepreneurial community has an easily accessible community communication platform like Slack, LinkedIn, or Facebook. Also, an eMail newsletter is sent on a regular basis.
- C.
  Our entrepreneurial community has; (1) A community communication platform and newsletter, and (2) Regular (monthly as a minimum) community events to bring people together.
- D.
  Our entrepreneurial community has; (1) A community communication platform and newsletter, (2) Regular community events to bring people together, and (3) An individual who acts as a community "connector" to put ecosystem stakeholders together who have common interests or needs.
- E.
  Our entrepreneurial community has; (1) A community communication platform and newsletter, (2) Regular community events to bring people together, (3) A community "connector" to put ecosystem stakeholders together who have common interests or needs, and (4) The community's general economic situation is positive, there is ready access to customers with money to spend on products/services.
8.
MENTORING: Which statement is the most accurate way to describe the Mentors available in your ecosystem?
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- A.
  We have very few, if any, active mentors in our ecosystem. Entrepreneurs are left to just find their own way.
- B.
  We have mentors but, few if any, are well matched to the types of businesses our entrepreneurs are pursuing at this time.
- C.
  Our ecosystem has Mentors matched to the type of entrepreneurs starting businesses in our ecosystem and have have had 15+ years of deep relevant experience.
- D.
  Our ecosystem has; (1) Mentors matched to the type of entrepreneurs starting businesses in our ecosystem and have had 15+ years of deep relevant experience, and (2) Our mentors are entrepreneurs who have started successful companies in our ecosystem.
- E.
  Our ecosystem has; (1) Mentors matched to the type of entrepreneurs starting businesses in our ecosystem and have have had 15+ years of deep relevant experience, (2) Our mentors are entrepreneurs who have started successful companies in our ecosystem, and (3) our mentors have experience guiding teams for branding/positioning and pivoting their ideas for a better product/market fit.
9.
MENTORING: Which statement is the most accurate way to describe the process used to in your ecosystem for working with mentors and mentees?
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- A.
  We don't have a mentor/mentee process. If we have mentors we just set them loose and hope for the best.
- B.
  Our mentor/mentee process starts with mentors/mentees required to go through onboarding/orientation training to provide best practices guidance for the mentor/mentee relationship.
- C.
  Our mentor/mentee process includes; (1) Mentors/mentees are required to go through onboarding/orientation training to provide best practices guidance for the mentor/mentee relationship, and (2) Mentors are required to spend at least five hours a month and meet with mentees on a weekly basis.
- D.
  Our mentor/mentee process includes; (1) Mentors/mentees are required to go through onboarding/orientation training to provide best practices guidance for the mentor/mentee relationship, (2) Mentors are required to spend at least five hours a month and meet with mentees on a weekly basis, and (3) Mentors are responsible for making sure team goals are set at each mentoring session.
- E.
  Our mentor/mentee process includes; (1) Mentors/mentees are required to go through an onboarding/orientation training to provide best practices guidance for the mentor/mentee relationship, (2) Mentors are required to spend at least five hours a month and meet with mentees on a weekly basis, (3) Mentors are responsible for making sure team goals are set at each mentoring session, and (4) Mentors use paper or a communications/coordination platform (Slack, BaseCamp, MS Teams, etc...) to document and track weekly team goals, tasks, and responsibilities along with critical "breakdowns" that may be keeping the team from achieving keep milestones.
10.
FUNDING: No matter what type of companies are included in your ecosystem, at some point they may need outside funding or investment to grow. Which statement is the most accurate way to describe the sources of capital in your ecosystem?
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- A.
  We have no sources of investment capital available to our ecosystem companies.
- B.
  We have angel investors and/or successful ecosystem entrepreneurs (capital reflows) ready to provide seed capital to ecosystem companies.
- C.
  The sources of investment capital in our ecosystem include; (1) Angel investors and/or successful ecosystem entrepreneurs ready to provide seed capital, and (2) When the correct conditions are met - for example: reliable earnings, personal guarantees, and credit history - banks will loan working capital to ecosystem companies.
- D.
  The sources of investment capital in our ecosystem include; (1) Angel investors and/or successful ecosystem entrepreneurs ready to provide seed capital, (2) When the correct conditions are met, banks will loan working capital to ecosystem companies, and (3) Government agencies and other non-profit organizations can provide startup and operation capital.
- E.
  The sources of investment capital in our ecosystem include; (1) Angel investors and/or successful ecosystem entrepreneurs ready to provide seed capital, (2) When the correct conditions are met, banks will loan working capital to ecosystem companies, (3) Government agencies and other non-profit organizations can provide startup and operation capital, and (4) Venture Capital and private equity firms are ready to invest in ecosystem companies.
11.
FUNDING: Which statement is the most accurate way to describe the process used to attract, inform, and engage potential ecosystem company investors?
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- A.
  We do not have a process in place to attract, inform and engage potential ecosystem company investors.
- B.
  Our investor engagement process involves potential investors in the initial review and selection of new ecosystem company applicants.
- C.
  Our investor engagement process includes; (1) Involving potential investors in the initial review and selection of new ecosystem company applicants, and (2) We engage potential investors as mentors for our ecosystem companies.
- D.
  Our investor engagement process includes; (1) Involving potential investors in the initial review and selection of new ecosystem company applicants, (2) We engage potential investors as mentors for our ecosystem companies, and (3) We hold a "Pitch Event" for ecosystem companies to present their company concepts, Minimum viable Products (MVPs), team, and traction (closed deals, revenues and new users) to potential investors.
- E.
  Our investor engagement process includes; (1) Involving potential investors in the initial review and selection of new ecosystem company applicants, (2) We engage potential investors as mentors for our ecosystem companies, (3) We hold a "Pitch Event" for ecosystem companies to present their company concepts, MVPs, team, and traction to potential investors, and (4) We have a post-pitch event follow-up process to address investors questions, determine ways for companies to improve their investability, and help companies close investment rounds.
12.
MAKE A WISH: Maybe your ecosystem has everything it needs. But if not... Make a wish and pick one of the items below. Who knows, your wish could come true!
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- A.
  We need more investment capital for our companies. We have great teams with great ideas but just not enough capital available.
- B.
  We need mentors who are better matched to our companies could make a big difference our stakeholders and us.
- C.
  Help building our ecosystem community and improve the overall attitude toward entrepreneurship.
- D.
  All of the above
- E.
  We don't need anything. We are fine as-is.
13.
BONUS QUESTION: Cross-ecosystem collaboration resources like investment capital, mentors, successful entrepreneurs, access to markets, education programs and more can be essential for an ecosystem to improve balance so it can thrive and grow. Which statement below fits your ecosystem?
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- A.
  Our ecosystem would invite the opportunity to share our resources with another ecosystem.
- B.
  Our ecosystem would invite the opportunity to use resources from another ecosystem to help our ecosystem to be better.
- C.
  We have no interest in cross ecosystem sharing of any kind.
- D.
  We have tried this in the past and it just did not work for us.
- E.
  I am not sure exactly what you mean by cross-ecosystem resource sharing but I would like to learn more.

Quiz Outcomes

1.
This is really bad...
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0 STARS - Your Ecosystem balance rating was not so good… In fact, it was really bad. We are sorry to inform you that you need to do a lot of work on your ecosystem to get it to a better level of performance. We know we can’t tell you want to do but just in case you are wondering what your next step might be to help your ecosystem stakeholders click the button below to register for some possible help. It's free!
2.
Not the worst score
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1 STAR - Your Entrepreneurial Ecosystem balance score was not so good… Not totally dismal but this score is not something you want to brag about. In fact, keep it a secret. We are sorry to inform you that your ecosystem it not close to being in balance. Your ecosystem has much room for improvement and a healthy dose of cross ecosystem resource sharing might be a good place to start. We know we can’t tell you want to do but just in case you are wondering what your next step might be to help your ecosystem stakeholders click the button below to register for some possible help. It's free!
3.
Not a terrible score but needs work
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2 STARS - Congratulations! Your scores rank you in the lower 20% of possible scores!Okay so not really congratulations... you are just below middle of the road but this means there is room for improvement. The kind of improvement that can make a big difference for your ecosystem stakeholders and community. We know we can’t tell you want to do but just in case you are wondering what your next step might be to help your ecosystem stakeholders click the button below to register for some possible help. It's free!
4.
NOT CLOSE TO PERFECT BUT NOT BAD
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3 STAR - Your ecosystem balance score was okay. You are definitely getting close to a balanced ecosystem with this score but you may want to look for a few ways to build your ecosystem so you could be a better for all stakeholders. We know we can’t tell you want to do but just in case you are wondering what your next step might be to help your ecosystem stakeholders click the button below to register for some possible help. It's free!
5.
Not perfect but so close...
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4 STAR - Your ecosystem balance score was a pretty close to okay. That is us trying not to be mean to you.You definitely have a closely balanced ecosystem… But you are so close to 5 STAR. We know we can’t tell you want to do but just in case you are wondering what your next step might be to help your ecosystem stakeholders click the button below to register for some possible help. It's free!
6.
Near Perfect Score
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5- STARS - Your Entrepreneurial Ecosystem balance evaluation score is pretty awesome but not perfect. Your Entrepreneurial Ecosystem is pretty close to perfectly balanced… Very few Ecosystems score this high. You are definitely have a great entrepreneurial ecosystem… Very few ecosystems score this high. We really want to hear from you and learn about what you might want to do next. Please click the button below to answer a few questions so we can schedule a time to chat with you.We are humbled by your awesome score and look forward to talking with you.
7.
A Perfect Ecosystem Score!
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5+ STARS - Your Entrepreneurial Ecosystem balance evaluation score was an awesome 100%. A perfect score!You definitely have a great entrepreneurial ecosystem… Very few ecosystems score this high. We really want to hear from you and learn about what you might want to do next. Please click the button below to answer a few questions so we can schedule a time to chat with you.We are humbled by your awesome score and look forward to talking with you.

Ten Question Entrepreneurial Ecosystem Evaluation - Are You 5 STAR Rated?

Quiz Questions

Quiz Outcomes