Social Media Startups
This social media startup is known for using pictures to communicate.
What is Snapchat?
Innovation is entrepreneurs number 1 priority
MYTH
What type of market should startups avoid getting into?
Flooded market
What are some qualities a team member might need in order to help grow a startup?
Skill set, time management, and creativity are just a few potential skills to look for when forming a team.
After being in serious financial trouble early on, the owner took his luck to the casino. Ultimately saving the company.
What is FedEx?
As of 2021, this startup company became the largest social network in the world.
What is Facebook?
You need other people to build the business
REALITY
What are important resources when starting a new business?
Financial resources, Human resources, Business plan.
What is a good way to make sure a consumer buys from you again?
You can offer coupon codes, start a rewards program for members, give credit for purchases, and have a live customer service option online.
With little to no online views, the owners had no choice but to fake followers, chats, and discussion posts until real people trickled in.
What is Reddit?
Mike Krieger launched this social media startup company on October 6, 2010.
What is Instagram?
Entrepreneurs have incomplete business plans
REALITY
What is it called when there is one key employee gaining full financial compensation?
A sole proprietor
What type of people find small businesses to fund themselves, oftentimes with an expectation of some cut of money made by the startup?
What is an angel investor?
After almost closing down all Chinese realtors and 50 US stores, a new CEO brought a new vision of cutting costs and driving online sales to save this tech store.
What is BestBuy?
This social media startup’s build was based on the software “Ruby on Rails”.
What is Twitter?
Startups must be unique and develop something new
MYTH
How will I make my business stand out from others?
Finding out who my primary competitors are in the industry
Are there any other ways to learn new entrepreneurial skills even while growing your startup?
Yes! There are options for incubators, mentoring programs, and online courses. Learning shouldn’t start after you start your startup.
After a massive surge of E. coli because of uncooked hamburgers, sales were exponentially decreasing until the medical cost coverage and overhauling of food preparation procedures saved the fast food chain.
What is Jack in the Box?
This startup company was started in China.
What is Tiktok?
Great ideas come through inspiration
MYTH
How will I market my business?
By finding out who my target audience is
What’s the best way to measure success?
Keep track of everything. KPI’s or key performance indicators will help you figure out what you’re doing right and what might need to change.
On the edge of bankruptcy in 1979 and in final turmoil for decades to come, former President Barack Obama and fuel-efficient “K” cars' massive profit turned this automobile brand around.
What is Chrysler?