STARTUP FUNDING
What is the money used to launch a new business called?
Startup Funding/ Startup Capital
Never give up!
Persistence is the essence of business and entrepreneurship. When you come to a roadblock, don't give up. Find a way around it or a way to better communicate your thoughts to make things work
What is a new business called?
A start up
What is a risk?
The willingness and ability to make decisions and take actions involving uncertainty, potential loss, or business failure in pursuit of market opportunities.
Most successful entrepreneurs take wild, uncalculated risks in starting their companies
This is FALSE! Most risks are calculated before betting big
What is it called when founders start their company with their own resources and not investors?
Bootstrapping
Surround yourself with people who give you energy. How much better is life when you have upbeat and positive people surrounding you?
In business we want to present ourselves in a way that is our best. If you surround yourself with people who create or give you energy and are driven and passionate, less mediocrity will happen. It will rub off on you and your colleagues or employees.
What is a written plan for how a business will work called?
A business plan
What is a finacial risk?
The possibility of losing money, capital, or failing to meet financial obligations in a business venture
Most successful entrepreneurs have strong track records and years of experience in their industries
This is False, most entrepreneurs have some kind of expertise but haven’t started a business previously.
What can affect how investors judge a start up pitch?
the types of questions you ask
If you lose your cool, you also lose your leverage
There is a tipping point or an edge-of-a-cliff moment in working relationships. If more of us took a step back, I think we would behave differently in tough situations
What is the group of people most likely to buy a product called?
A target market
The fundamental trade-off between the potential for financial or personal loss and the potential for financial gain, independence, and personal fulfillment.
Most successful entrepreneurs start their companies with a “break-through invention -- usually technological in nature.
False. Entrepreneurs are the ones who take other business ideas and make them more accessible, or better, or more cost-effective
What type of startup financing involves borrowing money and paying it back usually with interest?
Debt financing , business loan
If you must draw a line in the sand, make it count.
Sometimes the "other side" won't budge in business. If you believe in doing things your way versus their way, you sometimes must draw a line in the sand. Sometimes you have to say you're committed and stand your ground
What is research about possible customers called?
Market research.
What is risk perception?
An entrepreneur's subjective evaluation of the uncertainty and potential losses involved in a business decision or situation
Most successful entrepreneurs have a well-considered business plan and have researched and developed their ideas before acting
False. More likely, they have an incomplete business plan that contains a lot of assumptions yet to be proven. Rather than writing a business plan, they go out and seek validation of their business idea first.
What do investors receive in exchange for equity funding?
ownership in the company
Surprise people by giving them more than what they asked for.
Go above and beyond every day in business if you can. Do more than what is asked of you
What do you call another business selling a similar product or service?
A competitor
What is overconfidence?
A cognitive bias where a person has an exaggerated belief in their own ability, judgment, or knowledge, often feeling far more certain than is objectively justified
Most successful entrepreneurs start their companies with millions in venture capital
False. The more common practice is to self-fund their business and seek loans from friends and family