Startup Customers
What do you call a customer who buys online?
Ecommerce consumer
How can social enterprise help their community?
What is by identifying a problem in their community and finding solutions to solve that problem. Such services could include picking up trash, volunteering at local schools or soup kitchens and ect. Social enterprises also help people that feel excluded find their identity by helping out the community, by volunteering or employment.
What percent of startups fail?
90%
Is it true that entrepreneurs take more wild risks when starting a business?
No they are actually very risk-averse.
An important step to understand their target customers
What is research
What are 4 main Customer needs?
Price, Quality, Choice, Convenience
What is a social enterprise model?
What is “is the channel that the social entrepreneur converts inputs into outcomes; the generation of both social value (measurable impact) and economic value (revenue)” (Social enterprise business models).
What’s the number one reason startups fail?
There is no market need for product/service
Do most entrepreneurs have successful back records and years of experience?
No, Most have other experiences like accounting, but most start up.
While picking a team, this is an important aspect so the product can target many different groups.
What is diversity
What are ways to retain customer loyalty
Finding new and unique ways to create a partnership with customers. People will care when they share.
What is the primary purpose of a social enterprise?
What is to make a difference in the communities they live or interact with, whether it is solving a problem in that community or volunteering.
What is the most valuable asset to a startup?
Intellectual Property
Do Entrepreneurs usually get more success from taking other people's ideas?
Yes this is actually a fact as not many have one break through idea on their own.
A very important step for a startup to take in order to have the resources to further the development.
What is raising money
What type of experience do customers look for with a startup company?
Personal. One where they care about their individual needs.
What is the difference between social enterprise and business?
What is that with a business enterprise they develop a product to solve an everyday problem, then use that product to make money. However, with a social enterprise, they find a problem within their community to solve without receiving anything in return.
Besides the idea, what is the most essential key to a startup’s success?
Implementation of the product/service
Do most successful entrepreneurs have a strategic business plan?
No most look for more ideas “on the go” rather than a plan.
Being an entrepreneur is not easy or stable, so people who want to begin a startup must have this
What is passion
What risks do customers face when using startup businesses?
Less credibility with smaller name
Can anyone be a social entrepreneur?
What is having the right drive and creativity to find a problem in their community they want to solve.
Why do many startups focus on Niche ideas/markets?
They are easier to target and it is less likely someone has tried the idea.
Do most Entrepreneurs look for loans and self fund their business?
Yes this is true as not many can start out with millions of dollars in their account already.
This person is very important to a startup entrepreneur because they give them advice and tell them to keep going even when times get tough.
What is a mentor