Why Startups Fail
This problem is caused by the lack of desire of customers to buy this product
Market Problems
Which start-up is happy staying a start-up as long as they sell their product/service?
Small business start-ups
Bill Bowerman, a track coach for University of Oregon was dissatisfied with available running Spikes. As a result, he began to make improvements to these runners’ shoes
Nike
limited liability company (LLC)
A lot of millennials like this aspect of working for a start-up because this allows them to work when they choose
Flexibility
In a successful business model _____ must be less than lifetime value of the customer
Cost of acquiring a customer
Which type of start-up is willing to sell their business to a bigger player in their industry?
Buyable start-ups
Jeff Bezos quit his job to start an online bookstore because of a statistic that stated internet usage was growing at 2300% per year
Amazon
Money, workers and what other factors are vital to consider when starting a business?
Location
This benefit of working for a startup allows for workers to have more control over the outcome of their work
Minimal supervision from management
This problem occurs when the company does not meet the customer’s desires
Product Problems
Which start-up relies heavily on raising capital from outside ventures?
Scalable Start-ups
These two friends decided to go into business together because one of them couldn’t get into medical school, and the other couldn’t sell enough pottery. The friends opened a makeshift ice cream parlor in an abandoned gas station in a northern Vermont college town.
Ben and Jerry
Finding the age, gender, income and profession of the people you plan to sell to is referred to as _____?
Finding your audience
Traditionally there is a large number of these in the office of a startup
Workplace benefits
Startups need _____ in order for clearly defined roles and areas of authority so that it will succeed
Structure
Which type of start-up branches off from a larger parents company?
Offshoot start-ups
Mike Kittredge a 16-year-old kid who was deciding what to get his mother for Christmas, decided to melt old crayons to make a candle. A neighbor took interest in the candle and wanted to buy it. He continued to make candles for anyone who wanted one until he opened this shop.
Yankee Candle
What outlines the steps you need to take for a successful start and constant growth within a company?
Business Plan
Having a startup listed on this when applying for a job could be a great leg up above other applicants
Resume
According to the capital efficacy rule, after how many months must the cost of acquiring a customer be recovered?
12 months
Which start-up is not more in need of growth rather than money?
Social Start-ups (Non-Profits)
Burt Shavitz a photographer, left the big city in search of a better life. One day he stumbled upon a swarm of bees He'd previously been given an empty beehive. Shavitz would cultivate several other hives, foster the honey and wax, and, well, the rest is history.
Burt's Bees
A financial plan must include a balance sheet, sales, forecast, cash-flow state and _____?
Profit and loss statements
When working at a startup your fellow coworkers and those in management positions will have more of this than at a cooperation
Excitement for creation