Start Up Lingo
What does "MVP" stand for in entrepreneurship?
Minimum Viable Product
Amazon
What is the maximum recommended length for an elevator pitch?
30-60 seconds
What is the name of the early stage funding source provided by family or friends?
Seed Funding
Who founded Tesla Motors and SpaceX?
Elon Musk
What does it mean to "pivot" in a startup context?
To change a company's strategy based on feedback or market conditions
What major soda company was originally marketed as a medicinal tonic in the 1800s?
Coca-cola
What are the three essential elements of a pitch?
Problem, solution, and value proposition
What does "VC" stand for in the context of startup funding?
Venture Capital
Who is the co-founded of microsoft and a major philanthropist?
Bill Gates
What is a "burn rate" in business
The rate at which a startup spends its capital before generating revenue
What streaming platform started in 1997 as a DVD rental-by-mail service?
Netflix
What famous TV show features entrepreneurs pitching their ideas to investors?
Shark Tank
What is crowdfunding, and name a popular platform used for it
Raising money from a large group of people, often online. Kickstarter etc...
Which entrepreneur founded Spanx with just $5,000 and became a billionare?
Sara Blakely
What does "CAC" stand for, and why is it important?
Customer Acquisition Cost; it measures the cost of acquiring a new customer
Which ride-sharing company began after tis founders had trouble finding a taxi in Paris?
Uber
What is the term for addressing potential risks or objections in a pitch?
Pre-empting or handling objections
What type of funding involves selling shares of a company to investors
Equity Funding
Which innovator is credited with popularizing the assembly line for manufacturing?
Henry Ford
Define "bootstrapping" in the context of entrepreneurship
Starting a business without external funding, relying on personal savings or revenue
What fitness company started by selling high-tech stationary bikes directly to consumers?
Peloton
Name the four types of pitches based on time or setting
Elevator pitch, pitch deck, video pitch, and live pitch
Define a "term sheet" in a function negotiation
Jack Ma