Famous Entrepreneurs
This entrepreneur first demonstrated his technological expertise by creating the website “Facesmash” while attending Harvard in 2003
Who is Mark Zuckerberg (CNN)
This person practices and studies law that can provide assistance and guidance when completing business documents and complying with regulation laws
Lawyer
What is the term for the financial statement that provides a insight of a companies startup's financial position at a specific point in time?
What is a balance sheet
This is a type of funding in which private backers (individual investors) purchase your product or service before it's available. This gives business owners with an idea the chance to fund their project in exchange for providing that product or service to their backers
Crowdfunding
What is the most successful shark tank rejection
Doorbot, later known as Ring
This entrepreneur created his now e-commerce giant business out of his Seattle garage in 1994.
Jeff Bezos (Forbes)
Intellectual property contains things like copyrights, patients and ____ (Upcounsel)
Trademarks
This strategy involves a startup entering into an agreement with an established company to access their networking channels
What is a strategic partnership
This action is similar to crowdfunding in that you're looking for funding from a large group of people. Unlike traditional crowdfunding, you're not selling your product or service. This involves selling equity in your company
Equity Crowdfunding
What is the net worth of the famous scrub daddy
300 Million USD
This famous entrepreneur lasted two days at Stanford before dropping out to create his company, Zip2.
Who is Elon Musk? (Finance Buzz)
A 3 letter phrase for a business structure typical startups will file for that offers limited liability because this structure acts as a separate entity from its owner
LLC
What is the term for the process of evaluating and managing the potential risks and uncertainties associated with a startup
What is risk management
Also known as an accelerator program, its a group that's dedicated to helping aspiring businesses take off. They are generally founded and funded by other companies that want to help young business startups reach their full potential
Businesses Incubator
How many deals are legally completed when on shark tank
Only 27% are legally closed
This college dropout created his product in his garage in 1976 and was fired from his own company nine years later before eventually returning
Who is Steve Jobs (Forbes)
The self employment tax form is also known as what in number form (IRS)
Schedule C/1040
This funding source involves borrowing money that must be repaid with interest, often used for short-term financing
What is a business loan
This term is known to fund and run a company using only personal finances or operating revenue. This form of financing allows the entrepreneur to maintain more control, but it also can increase financial strain
Bootstrapping
A "Shark Tank" businessman made a pitch for a gadget designed to help those who frequently misplace their keys. What was the brand of this ground-breaking item
UNIKEY
This famous entrepreneur got his start by selling his product out of a Plymouth Valiant
Who is Phil Knight? (Lebron James Innovation Center, Nike)
In every state except Texas, businesses with employees are required to get what? This will cover medical and work related costs that happen on the job (Nerd Wallet)
Workers Compensation Insurance
What is the common challenge for startups that involves scaling their operations to meet growing customer demand
What is managing growth
These are individuals with the money to back startups and aspiring business owners. Unlike venture capitalists, angel investors are generally solo and not involved with a board or firm
Angel Investors
Which product, featured on the TV show "Shark Tank," holds the record for the highest deal valuation in the history of the show, with a $2.5 million investment for 10% equity
Zipz Project