Startup Investment
What is the easiest way to get money invested into your company?
Reach out to your family and friends about your idea.
What is the top reason small businesses fail?
Running out of cash and/or failing to raise new capital
What is a social entrepreneur?
A social entrepreneur is someone who uses commercial strategies to solve social and environmental problems while also keeping track of their financial gain.
How often does the One-Page Strategic Plan (OPSP) need updating?
Quarterly is the usual rhythm. A lot of companies update the OPSP every two months.
What is the proper time length for an elevator speech?
A 60-90 second prepared list of qualities that explain who you are, your interests, what you can offer, and who you are. (BUS 102 UA Page)
How much money do you need invested in your company?
There is no set amount, but it is a good idea to have at least six months worth of fixed costs.
What is Visual Identity?
The personality and branding you want to be expressed through your product or design.
Do social entrepreneurs run businesses or charities?
Social entrepreneurs can structure their organizations as non-profit or for profit.
What are the four main areas to look at when scaling?
People, Strategy, Execution, and Cash.
What is necessary document that you have a finished, professional copy of on hand?
A resume. (BUS 102 UA Page)
What is the market size and growth potential?
Assess the size of the target market and its growth prospects. A larger market with room for expansion can indicate greater potential for success.
What term refers to the legal structure where a small business owner is personally liable for the company's debts?
sole proprietorship
Do governments support social entrepreneurs?
More nations are considering laws to promote social entrepreneurship, with many implementing legal definitions, tax incentives and funding to businesses looking to do good.
How do you know when your company is ready to scale?
The best indicator is your market. If you have a lot of people wanting something from you, and you're just trying to run to keep up, then it’s time to scale up.
When talking to a prospective company or peers, what is one key way to seem invested and excited to hear what they have to say?
The tone and delivery of what you say, needs to be conversational and extemporaneous.
What is the competitive landscape?
Research competitors and how the startup plans to differentiate itself.
This type of funding involves giving up ownership in exchange for capital to grow a small business.
Equity financing
How are social entrepreneurs funded?
Social ventures typically generate income from trading products or services. They can also use crowdfunding, community investment funds and competitions to fund themselves.
How to create good metrics?
So first, you want to find the right measure. And that just involves looking at a lot of correlations which machine learning and big data can help you do. Once you do that, get laser-focused on it.
What is one key element that needs to be sorted out before you begin down the entrepreneurship route?
What is already out there and what is being created currently.
What is the current stage of the startup?
Determine if the startup is at the idea stage, seed stage, early-stage, or later stage. Different stages come with different levels of risk and potential return.
In accounting, this financial statement shows a small business's revenues and expenses over a specific period.
Income statement
What is one of the best known social ventures?
Britain’s the Big Issue, which hires homeless people to sell street papers and sparked a list of similar organizations globally.
What's the number one thing that blocks companies from scaling up?
All 4 categories: People, Strategy, Execution and Cash
Do you need to be financially stable before becoming a startup entrepreneur?
Yes, this is due to the fact that while you are creating, you are not generating funds.