Stages of Startups
When an entrepreneur has an idea or concept based on a gap in the market and thinks they can fill it with a product or service.
What is the ideation stage?
The term for a short run-down of your qualifications during the time it would take to go up an elevator (Princeton University).
What is an elevator pitch?
This is a document that shows the breakdown of a company’s revenue over a specific period of time.
What is a P/L statement?
This ride-sharing app was co-founded by Travis Kalanick and Garrett Camp in 2009
What is Uber?
This famous Shark Tank product was created to clean auto mechanics' hands, but later developed into a kitchen cleaning tool.
What is Scrub Daddy?
In this phase, strategic initiatives aimed at both sales cycles broadening market presence and reach take center stage.
What is the expansion stage?
Term for money a startup wants from investors (Corporate Finance Institution)
What is an ask?
What is the term for a sudden shift in strategy leading to a mediocre idea becoming something profitable (Harvard Business Review)?
What is a Pivot?
This company, started by Brian Chesky and Joe Gebbia, lets people rent out their homes to travelers
What is Airbnb?
This product was pitched as Doorbot on Shark Tank and rejected, but is now valued at over $1 billion.
What is Ring?
This stage signifies a period of equilibrium and consolidation following the rapid growth phases.
What is the maturity stage?
The name of the document that summarizes a company’s business model to investors (Silicon Valley Bank)
What is a pitch deck?
The very first round of funding for a startup, a term that has slowly emerged over the past decade.
What is seed money?
Elon Musk co-founded this electric car company in 2003
What is Tesla?
This well-known male hygiene brand came into Shark Tank with an already major retail deal with Kroger.
What are DUDE Wipes?
At this stage you're seeking the initial financial support to nurture your budding business.
What is the seed stage?
The part of a pitch deck explaining the potential market being targeted (Vation Ventures)?
What is a market opportunity?
The amount of money a company spends each month to keep running, before profit.
What is a burn rate?
This video streaming platform was created by three former PayPal employees and was later bought by Google
What is YouTube?
Which Shark Tank product uses the famous slogan, “The Blanket You Wear!”?
What is The Comfy?
This stage signifies that your startup has matured and gained significant market presence.
What is the established stage?
When a startup is pitching to multiple investors during one event (Growth Mentor)?
What is a demo day?
The simplest version of a product to build to sell in a market.
What is a minimum viable product?
This company, started by Reed Hastings, first mailed DVDs before becoming a streaming giant
What is Netflix?
These fun, colorful weights were successful on Shark Tank after securing a deal with Mark and Maria in Season 11.
What are Bala Bangles?