Table I. Test elements used in the... | Emerald Publishing

Table I.

Test elements used in the entrepreneurial logic test

Test element	Operationalized definition presented to participant in the NME-TE
Motivation	“Create cards for what you want to get out of the company personally. Do you want to sell the company? Do you want to leave it to the next generation? Is it money that motivates you, or is it something else?”
Core competence	“Here you should add what makes you better suited to solve the problem than anyone else. Why should the customer choose you? What will make it difficult for the competition to copy you? Add as many cards as you need. One uniqueness can relate to one problem, or to many”
Key contribution	“People are usually willing to pay good money if you solve a problem for them. Given your uniqueness and resources; what problem can you solve? Try to be creative and let the wild ideas flow”
Key market	“No point in solving problems if you do not know who has them. Try to think of the possible target groups for all imaginable problems you are solving. Don't make the target groups too wide and generic. It is so much easier to reach out to a small and clearly defined group”

Test element	Operationalized definition presented to participant in the NME-TE
Motivation	“Create cards for what you want to get out of the company personally. Do you want to sell the company? Do you want to leave it to the next generation? Is it money that motivates you, or is it something else?”
Core competence	“Here you should add what makes you better suited to solve the problem than anyone else. Why should the customer choose you? What will make it difficult for the competition to copy you? Add as many cards as you need. One uniqueness can relate to one problem, or to many”
Key contribution	“People are usually willing to pay good money if you solve a problem for them. Given your uniqueness and resources; what problem can you solve? Try to be creative and let the wild ideas flow”
Key market	“No point in solving problems if you do not know who has them. Try to think of the possible target groups for all imaginable problems you are solving. Don't make the target groups too wide and generic. It is so much easier to reach out to a small and clearly defined group”