How to get Funding
What is any entrepreneur's greatest challenge ?
Raising Capital
Do you need to create a product that has never been made before?
No
A feasible market is the measure of how much success is in a market place?
True
What startup company was founded by Travis Kalanick and Garrett Camp in 2008 when they could not get a taxi on a winter night in Paris?
Uber
What kind of person do you have to be to be a successful startup entrepreneur?
You must be persistent, have a strong work ethic, passionate and be a risk taker.
What are the two most common types of raising capital ?
Debt & Equity
The most successful entrepreneurs are those who take risks?
False
Investing in an overcrowded industry should never be done
False
What company did Elon Musk form in 2002 due to his desire for space travel and the possibility of colonizing Mars?
SpaceX
Why is a business plan important to a start up?
This is so important because it shows possible future shareholders what your company and product stand for and how you run.
How much startup Capital do average entrepreneurs need ?
10,000
Can anyone be an entrepreneur?
Yes
You should never look at competitors when your looking at the markets potential success?
False
What successful company was created in 2002 by Reid Hoffman with the idea of being a way that business professionals could connect with each other? Hint: we all use it in Farmer.
How do I determine the cost and expenses of a startup?
You will have to campaign and sell your idea to investors, also you must be prepared to invest everything you have.
What percent of Small businesses start off using their own money?
77%
Entrepreneurs often fail at least 10 times before they find a feasible idea
They do fail, however there is not a set number
You can estimate the markets success rate by conducting due diligence
True
What company that is now a greatly successful streaming platform originally started off as a DVD rental service where it was shipped right to the customer’s door?
Netflix
What do you need to know about financial statements?
You need to be familiar with balance sheets, statements of operations, and cash flow statements.
What are two types of non traditional ways to raise capital?
Crowd Funding and Government prizes and grants
It takes years of experience and knowledge of your products market to have a successful start up
True
What are the main parts of a market feasibility study?
Executive summary, product description, and the technology
What successful company did Brian Chesky and Joe Gebbia create in 2007 when they realized there was a shortage in available hotels allowing them to come up with the idea of renting their own place out?
Airbnb
Is location important?
YES, parking facilities, public transportation, safety, housing close by, traffic, competitors, ect. These are all important factors you need to take into account for.