Understanding and generally using key startup terms in the day to day procedure of a business is a must for every entrepreneur. Chances are you have seen or listened to these terms in one way or another. Technical or non-technical, the best entrepreneurs may not be specialists at everything but are certainly able to wear multiple hats and speak many languages whether it is with the finance committee, programmers, designers, marketers, business developers, or other areas.
Here are top startup Terminology you need to know:
An individual who invests his or her own money at an initial stage in trade for a share of the company. An angel can be a big net worth entrepreneur or friend or family member willing to invest in a great idea
The amount of cash you are spending each month in connection to your capital. Allocate your capital amount by your burn rate to assume the lifespan of your company
The way you anticipate getting money out of your company. It’s another way of thinking about your future plans for the company.
Startup incubators are organizations that support chosen entrepreneurs and/or their businesses with mentorship and funding.
A startup begins to pivot when they want use their existing tech and resources for an entirely different process. This includes doing business in different market segments.
Nondisclosure agreement (NDA):
A legal document that conserves a startup’s secrets by carrying employees responsible to pay harms for leaking them. NDAs can be used to conserve things like proprietary code, formulas, or customer information.
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