Successful and Unsuccessful Startups
What famous startup went from renting out air mattresses to being a $10 billion company servicing individuals who are traveling or looking for a place to stay?
AirBnB
These individuals often invest in startup companies in exchange for equity in the company
Angel investors
This is when one company or investment group buys another company.
Accquisition
Money
Forbes says what is the first step in testing your startup idea?
Creating a landing page
What percentage of startups fail?
90%
This financing, which can be hard to get, comes from firms that can provide capital and other advice and guidance
Venture capital
This describes how fast you go through your cash. The majority of startups lose before they break even and then make a profit.
Burn rate
While some do not agree, what is something you can do during a startup that is a form of creativity?
Ask questions
Do the five steps to test your startup from Forbes require a large investment or a small investment?
A small investment
How many times did the founders of Angry Bird fail before they became successful?
51 times
This is a quick but strong investor pitch used to attract investors
Elevator pitch
This is the act of using a site like Kickstarter to give you money to help you get your product/site launched. You keep 100% of your company and only give away a % the total you raise to the crowdfunding portal.
Crowdfunding
In order to create quality, do you need to create more or less?
More
Too many businesses are afraid to what and therefore keep themselves outside of the position to do so?
To fail
After leaving Yahoo, what company did the founders of WhatsApp apply to and fail to get hired at?
Also called “bootstrapping,” this method of funding is how more than 90% of startups are funded.
Self-funding
This approach is when give your basic product away for free and then try to upsell other features to your customers.
Freemium
Everyone can be creative
During pre-registration for your product, what will motivate users to give up a few minutes of time?
A gift or promotion
In what amount of time did the founders of Instagram invent the app?
8 weeks
This allows companies to get money in exchange for putting assets at risk for collateral.
Line of credit
This startup is one that has been launched with as little startup capital has
Lean startup
There have been many creative accomplishments throughout time. While it is the case sometimes, what does not usually lead to these accomplishments?
Sudden inspiration
This rule states that you should make a list of 100 things you can do to market the product, execute it, and talk to 1,000 people in the process
Ryan Clements’ rule of 100/1,000