![]() ![]() Their purpose is to help the business by guiding the business management, approving strategy, and hiring senior positions in the company.īootstrapping is when a founder builds their startup from the ground up using their personal savings, with little or no help from outside sources. The board in a business is a group of elected people that represents shareholders. When applying for funds, a business plan is given as a handout to potential investors, so they’ll know what they’re investing in. It is also used by established businesses when launching new projects, products, or stages. It’s a tool used by startups to develop their business and create a strong strategy. It is well known globally and used by many startups.Ī business plan is everything about your business, in writing, from A to Z. The business model canvas is a method to simplify your business planning by visualising all the building blocks, including customers, market, value proposition, finance, etc. Their own experience and expertise are invaluable for the startup lucky enough to get funded.īusiness-to-Business is a term used to describe the overall marketing strategy of a business selling to other businesses.īusiness-to-Consumer is used to describe the overall market strategy of a business selling to consumers. An angel investor is typically someone successful in his/her ventures, resulting in private capital. Occasionally, angel investors team up and help each other look for potential prospects, and sometimes they even co-fund together. Startups especially have a need to be agile, as the growth of a business involves many fast changes.Īn angel investor is a solo investor investing from private funds. The term is often used when talking about leadership and culture in business management. The ability to be flexible and change direction as a reaction to unpredictable changes. The term is also used in customer acquisition, which is the process of getting a new customer. When you're buying another business, it’s called an acquisition. You need to apply for an accelerator program, and the competition is tough. They usually provide mentorships, education, technical resources, and in many cases, funding. It could also be developing two different designs on a product and evaluating it by a test group.Īn accelerator is a support program designed to help startups excel in their growth. For example, sending out an email with two different headlines to see which one has opened more often. When you're testing two variations of a product or piece of content, in order to figure out which one is the best. Have this list with you, and you'll always have a reference to be on top of all the jibberish startup lingo □ A - B This definitive word list has everything you need to know to help you on your startup journey. We are here to get you up to speed and help decipher all things startup. Whether you're building on your first startup idea or are a seasoned entrepreneur, there's a good chance you will come across a startup term or phrase you're either unsure of or just need to double-check.
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