Startup Basics
term for a company’s first working version of a product...
What is an MVP? (minimum viable product)
This type of funding comes from your own savings or friends and family...
What is bootstrapping?
He co-founded Apple...
Who is Steve Jobs?
This is the biggest challenge for entrepreneurs starting a business financially...
What is Raising Capitol
Startup that tried to create a cheap blood test but failed due to false claims?
Who is Theramos?
The group of people most likely to buy your product...
What is a target market?
Venture capitalists usually provide money in exchange for this...
What is equity/ownership?
He started Facebook in his Harvard dorm room...
Who is Mark Zuckerberg?
This is the biggest challenge for entrepreneurs starting a business when trying to buy their Building...
What is finding the right business location?
Ride-sharing company that tried to compete with Uber and Lyft...
What is Sidecar?
Revenue minus expenses equals to this...
What is profit?
The amount of money a startup spends each month before turning a profit...
What is a burn rate?
He founded Microsoft...
Who is Bill Gates or Paul Allen?
This is the biggest challenge for entrepreneurs starting a business when their service/product already exists...
What is dealing with competition?
Phone company that led the industry but lost to iPhone and Android...
Who is Blackberry?
Equity is ownership in a company, while this is money that is borrowed and must be repaid...
What is debt?
This measure shows how much money is made compared to what’s spent to get a customer...
What is a CAC (customer acquisition cost)?
He co-founded Netflix...
Who is Reed Hastings?
This is the biggest challenge for entrepreneurs starting a business financially after raising the initial capital...
What are unforeseen expenses?
Who is Nokia?
The first people to use a product before a larger market...
Who are early adopters?
The percentage of customers who stop using your product over time...
What is a churn rate?
She created Bumble...
Who is Whitney Wolfe Herd?
This is the biggest challenge for entrepreneurs starting a business when facing adversity...
What is being optimistic towards challenges faced?
Video rental store that turned down a chance to purchase Netflix for $50,000,000
Who is Blockbuster?