Business Terms
What is the name of the first person to execute the business?
Founder
Why are small businesses and ambitious enterprises are at the heart of every industry?
Not only do they immensely contribute to the overall revenue of a country, but they also have a beneficial effect on the workers themselves.
What is the most common reason start-up fail?
Finances
Who is the wealthiest entrepreneur in the world?
Elon Musk
Co-founder of Google?
Larry Page
What does disruption mean in a business?
The creation of new markets and opportunities
Why do a large number of business owners rely on loans?
They rely on loans to keep the company operational and often have to use their personal funds to tie some loose ends. They also help them expand their business and achieve more within their industries.
What Percentage of start-ups fail
90%
What year had the most amount of startups in the U.S.?
2023 with 5.5 Million Business Startups
This person founded Facebook in his Harvard dorm room.
Mark Zuckerburg
What is the difference between customer and enterprise products>
Customer Products: Product for sale to a customer
Enterprise Products: Products for sale to an enterprise
Do moth US business owners start their own companies?
About 83.1% of US business owners started their companies.
What is the most common way for a startup to get funding?
To borrow from your 401K
What is the average age of entrepreneurs who start up businesses in the U.S.?
36 years old
The site was started as a way for business professionals to connect and has now grown to be one of the largest social networking sites with over 600 million users, was created by?
Reid Hoffman
What is value proposition?
Value Proposition: The product benefit for who and how
Do you need a Bachelors Degree to be an entrepreneur?
Only 9% of entrepreneurs have a Bachelor’s Degree in business and only 30% of entrepreneurs only have a high school degree.
How long does it take for start-ups to become profitable?
Between 2 and 5 years
Which country has the lowest number of business startups?
Mexico
The founders of the startup company Airbnb
Brian Chesky and Joe Gebbia
What is the difference between Iteration and Pivot?
Iteration: A minor change in the business model
Pivot: A major change in the business model
How many entrepreneurs are there in the world?
582 million entrepreneurs in the world
What is the most profitable business to start?
Real Estate
What percentage of new businesses make it 15 years or more?
25%
Who made his fortune by squeezing out efficiencies through horizontal and vertical integrations that made Standard Oil synonymous with monopoly?
John D. Rockefeller