Famous startup businesses
This is the worlds largest ride sharing company, founded in 2009 with just three cars tested out and quickly grew to become the world's most valuable startup.
Uber
How do I maintain the correct mindset?
Talking positively, positive affirmations, believing in yourself, and analysing your mistakes will help you stay in a positive mindset.
What is the best way to spread awareness about your business?
Get influencers to display your products, use branded packaging, get on social media, and take advantage of google's ads.
Do startups typically make lots of money at the start?
No, they typically start off paying nothing to the founders.
The process of assessing the market, learning about the industry as well as the major players and future competitors.
Researching
This gig-economy service allows users to rent out spare space in their homes or other properties.
AirBnB
How can you change your mindset?
Meditating and imagining the inevitable will help change your mindset.
What makes a small business successful?
Every small business needs to have an operating plan in order to be successful. This is not only the blueprint for the company’s success, but it is also the summary of the business for investors and potential business partners.
How many founders are typically in a startup?
An analysis of the target demographic, including but not limited to age, gender, ethnicity, income, and beliefs.
Audience analyzing
This American company created its flag shift game Fortnite and used it to launch an entire platform for playing and purchasing games.
Epic Games
Are you born with the correct mindset?
We are not born with a mindset. We catch a mindset, from a mix of factors as we are growing up.
What is the hardest part of starting a small business?
The hardest part for small businesses is getting people to know about the business.
What percentage of startups secure funding through an investor or loan from a bank?
About 66%
Calculate the money required to start a business and how one can acquire the capital, such as personal funds or loans, as well as the tax burden.
Financial planning
This American company focuses on payment processing and uses machine learning to combat fraud. They also handle payments for Target, Doordash, and Lyft.
Stripe
How do you know if you're in the right mindset for success?
Stop fearing failure, be willing to fail and learn. You will be put in the right mindset.
Is creating a small business more beneficial than joining a business?
Since small businesses are more specialized than big businesses, when the market shifts it is easier to shift amongst a small business vs large. Smaller businesses allow people to think harder and more creatively along with experiencing many opportunities.
What makes a startup different from a small business?
Startups have a goal to grow. Small businesses are fine remaining small.
The suitable time for a business to launch as one needs to take into consideration “when the economy is healthy and your prospective industry is expanding”. Being decisive is also a key factor.
Right timing
Social media platform for professional connections
What are the different types of mindsets?
Fixed and growth mindsets. Fixed mindset is feeling like you can’t change yourself and that's just how it will be your whole life. Growth mindset is where you believe you can learn anything you want and you challenge yourself to become better on a daily basis.
What is the average number of times people fail before reaching success in small businesses?
Research concludes that around 20% of businesses fail in the first year. 30% in the second year. 50% in the fifth year and 70% in the tenth year. Only 25% ish of small businesses make it to over fifteen years.
What is the definition of a startup according to the creator of the Lean Startup Model, Eric Ries
A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.
Have experienced people look at one’s business to give advice, such as legal and accounting ones.
Bringing in a professional