Startup Basics
What is a startup
A business that is created to solve a problem for customers.
What is Market research
His research process helps an entrepreneur figure out who their potential customers are and whether people actually feel like they need and want their product.
Entrepreneurship
This is a process of creating and developing new business by finding a problem or opportunity
Initial start up costs
What are the early expenses when starting a startup business that the founder must know and estimate before making a startup public?
Creating a business idea for a problem
The early process when looking to start a business off of a problem
What is market research
Learning about customers and demand and the market before making a business.
What is an MVP
Instead of spending months building a complete product, startups are encouraged to create this basic version to get initial customers and feedback.
Startup
This is a company or organization that creates something new and innovative and to grow the business quickly.
Revenue
What is the value of all sales of goods in a business that are registered in a period of time
Getting the product on a shelf
What is it when you make your product niche and align it with a retailer's needs
Target market
Specific group that the business wants to sell to.
What is product-market fit
Combinator says founders should look for problems so serious that customers will use even an imperfect, early version of the solution. This concept is essential for finding this.
Target Market
This is the specific group of people with common interest and buying behavior that a business wants to sell its products or services to
Profit
What is the total revenue minus total expenses, costs, and taxes in a business
Target audience
What is a specific group of people a business plans on and wants to sell their product to
Business plan
How a business will be structured and operated.
What is a value proposition
This statement explains the specific benefit a company promises to deliver to its customers and why they should choose it over alternatives.
Market Research
It is a process of speaking directly to consumers in large groups and asking them key questions about their preferences and needs
Business debt
What is capital that a company borrows from external sources
Creating multiple ideas to solve the problem
What is it when a business or company comes together to create multiple ways to solve a known problem in their line of business
What is the value proposition
Explains the unique value that the business gives to their customers.
What is the most common endpoint of start up failure
What is running out of capital
Business Model
This explains how a company plans to make money by selling products or services to their customers.
ROI of business
What measures the performance of an investment and how it compares to other investments in a business
Creating a prototype
What is the process of creating simplified physical versions of an idea