Basic Knowledge of Entrepreneurship
What is an Entrepreneur
Entrepreneurs need this quality to continue moving forward after something doesn't work out
What is persistence
An individual called who provides capital for early stage startups in exchange for equity in the company (usually, they are not part of the formal funding round)?
What is an Angel Investor
The country that leads the number of startups by entrepreneurs
What is the United States of America
A brand's reputation as experienced by an individual is called this
What is Brand Experience
What is market research
This quality in a person lets them come up with new ideas and solutions.
What is creativity
The rate at which a company spends its capital (aka its negative cash flow) called?
What is a burn rate
The ratio of start-up entrepreneurs having to be profitable in their first attempt in a business
What is the 2 in 5 ratio
The amount of money a startup company spends to gain a new customer through marketing/sales efforts
What is Customer Acquisition Cost
This document acts as a roadmap for how a new business will be structured, operated, and grown
What is a business plan
People show this quality when they believe in themselves and their abilities.
What is self-confidence
A funding round where a startup’s valuation is lower than the previous round?
What is a Down Round
The two key themes that emerge on why successful startups admit their failures
What is finding market fit and running out of money
The strategy that startups encourage exiting customers to recommend its product to their friends and/or family is called this
What is Referral Marketing
The term that describes the specific group of customers that a business i trying to sell its product or service to
What is a target market
This quality allows entrepreneurs to adjust accordingly when things change
What is adaptibility
When one company buys most or all of another company’s shares to gain control of that company
What is an acquisition
The status that all entrepreneurs dream on in the startup world that helps their business become commercialized
What is the “unicorn status”, a billion-dollar valuation
A startup gives customers a discount code to encourage them to make their first purchase is this
What is a sales promotion
The expenses a new business must account for before and during its launch, such as equipment, inventory, licenses, marketing, employee costs
What are startup costs
Entrepreneurs show this quality when they trust themselves and make decisions that may fail.
The name for the strategies called that focus solely on growth and are often used by early-age startups?
What is Growth-hacking
Successful startups choose to keep operating even when they have sufficient cash reserves indicates this type of strategy
What is the reinvestment strategy
The percentage of people clicking (of on an online device) or purchasing a product after seeing an advertisement is called this
What is the conversion rate