Startup Strategies
This strategy involves testing a producy with a small group of users before a full-scale launch?
A pilot test
This type of funding involves raising small amounts of money from many people, typically via online platforms.
What is crowdfunding?
Myth: The most successful entrepreneurs have a well-considered business plan and have researched and developed ideas before taking action on them.
They have an incomplete business plan that contains a lot of assumptions and cannot be proven.
A fast-food giant that serves Mexican food, there’s one in Oxford.
What is Chipotle
This ride-sharing giant, founded in 2009, revolutionized transportation with its app-based services.
What is Uber
This strategy focuses on creating partnerships with established companies to leverage their customer base and distribution channels?
Strategic Alliances
This term describes the initial capital used to start a business, often sourced from personal savings or family
What is seed funding?
Myth: Most successful entrepreneurs start their companies with millions of dollars in venture capital.
It is more commonly known that they self-fund their business and seek loans from friends and family.
A social media platform for posting pictures and videos, was bought by Facebook
What is Instagram
This subscription-based meal kit delivery service was founded in 2012 and popularized home-cooked convenience
What is Blue Apron
This marketing approach uses social media platforms to reach and engage with potential customers.
Social Media Marketing
This financial document provides a detailed forecast of a company's future financial performance
What is a financial projection?
Myth: Entrepreneurs are born, not made.
What is the reality that entrepreneurship skills can be learned and developed through experience and education?
A technology company most noted for it’s creation of the iPhone.
What is Apple
This e-commerce platform allows individuals to sell handmade or vintage items online, fostering a community for small businesses.
What is Etsy
This framework helps startups to systematically test their assumptions about the business model
Lean Startup Methodology.
This type of funding involves investors providing capital in exchange for ownership equity in a company.
What is venture capital
Myth: Most startups are overnight successes.
What is the reality that most successful businesses take years of hard work and persistence to build?
A small coffee shop that started in Seattle, 1971
What is Starbucks
This San Francisco-based food delivery service, founded in 2013, became a major player in the gig economy and IPO'd in 2020.
What is Doordash
This term describes a pricing strategy where prices are set low to attract customers with the goal of gaining market share.
Penetration Pricing.
This term refers to the practice of raising funds from investors who seek to provide capital for business growth rather than early-stage startups
Growth Capital
Myth: Entrepreneurs take huge risks and gamble everything.
What is the reality that smart entrepreneurs take calculated risks, manage uncertainty, and often test ideas before going all-in?
A primarily shoe based company that began with a track coach and a runner teaming up.
What is Nike
This online marketplace for vacation homes, founded in 2008, disrupted the hotel industry with its sharing economy model.
What is Airbnb