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  • drdianehamilton 12:34 pm on November 26, 2016 Permalink | Reply
    Tags: Blueskying, Brogrammer, Co-Working, Customer Service Assoiate, Demo Day, DevOps, , , , Freemium, Green Meadow, Growth Hacker, Hockey Stick, MVP, Next Level, Ninja, PEBCAK, , Pufferfish, Slack, Space, startup, Subprime Unicorn   

    Entrepreneur Startup Terminology 

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    Entrepreneurs have created their own vocabulary.  The Wall Street Journal recently posted some important terms that every startup professional should know:

    Accelerator:  A program that helps young startups refine their product and pitch themselves to investors, in exchange for a cut of equity. Example incubators include Y Combinator or Techstars.

    Blueskying:  Making optimistic promises, particularly to investors.

    Brogrammer:  Stereotypically, software developers come in two types:  nerds and brogrammers.  The former are usually introverted, while the latter are loud and outgoing.

    Co-Working:  Working out of a shared office space with other cash-strapped startups, on a per-seat basis, typically with free coffee, kitchens and pint pong tables.  Companies rent desks or small workspaces to startups with large offices.

    Customer Success Associate:  A customer-service rep. at a startup.

    Demo Day:  The day when an incubator’s companies pitch to potential venture-capital investors.

    DevOps:  A DevOps engineer is a software developer who works with both the software-development and the operations teams at a company as they write, test, and roll out software.

    Freemium:  The free version of an app that also has a better, paid version.

    Green Meadow:  A market where no competitors exist.

    Growth Hacker:  Someone who thinks of clever ways for the company to grow.

    Hockey Stick:  A graph showing rapid adoption of a startup’s product.

    MVP:  The first commercially viable version of a software product. As in “Minimum viable product” Releasing an MVP sets the clock ticking, because investors and customers expect a better, bug-free version soon.

    Next Level:  The ultimate in startup compliments. This generation’s version of “far out” “switched on” or “rad”.

    Ninja:  A term of praise for a person’s skill.

    PEBCAK:  An acronym for “problems emerge between chair and keyboard” – a sardonic programmer term for what happens when users are too dumb to use software correctly.

    Prezi An app that creates digital slide presentations.

    Pufferfish:  Making a startup seem larger than it is. Among other tricks, startups have been known to decorate empty desks and to create elaborate voice-mail systems to make it seem like more people work there.

    Slack:  A team-measuring app popular with startups. Also, a verb meaning to message someone using the Slack app.

    Space:  The area of an industry where a company competes. For example:  That startup plays in the food tech space.

    Subprime Unicorn:  A company formerly valued at more than a billion dollars, now fallen on hard times.  Many companies that were once highly prized by investors are now worth much less, or are rumored to be so.

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  • drdianehamilton 6:21 am on November 12, 2012 Permalink | Reply
    Tags: , , , startup, ,   

    Data Reveals What it Takes to be an Entrepreneur 

    The Wall Street Journal recently listed some interesting statistics regarding entrepreneurs.  Ewing Marion Kauffman’s data was used to create an infographic.  According to the article By the Numbers:  Taking the Measure of Entrepreneurs, the following gives more insight as to who becomes an entrepreneur:

    • Age – The average age for an entrepreneur is 40 years old.
    • Education – Over 95% of entrepreneurs hold a bachelor’s degree or higher and over 47% have advanced degrees.
    • Background – Over 71% came from the middle-class and 1% came from extremely rich or extremely poor backgrounds.
    • Funding – For 70% of entrepreneurs, the main source of funding came from savings.
    • Family – First borns accounted for over 42% of entrepreneurs. They had an average of 3 siblings.  Just over half of them were the first in their family to start a business.  Nearly 70% were married and nearly 60% had at least one child.
    • Success – When asked what entrepreneurs felt was important for success, 73% listed luck as an important factor.
    • Location – The highest numbers of entrepreneurs are in Arizona, Texas and California. The lowest numbers are in West Virginia, Pennsylvania, and Hawaii.

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  • drdianehamilton 9:17 pm on June 7, 2011 Permalink | Reply
    Tags: , , , , , , , , , , startup, Vision Statement   

    Top 5 Things to Know to be a Successful Entrepreneur 

    The typical entrepreneurial personality has the drive and ambition for success.  Like anything in life, though, it is always harder to do something the very first time.  This can discourage many new entrepreneurs from taking that initial leap and to start their own business. 

    I teach several entrepreneurial courses and have put together some important articles that I recommend to my students.  The following list contains many of these articles and some of the most important things that entrepreneurs should do in order to be successful:

    1. Read Success Stories and Attend Lectures:  An excellent way to be inspired and learn from other entrepreneurs is to read their success stories.  Onlineuniversities.com recently came up with a list of 20 Biographies Every Serious Entrepreneur Should Read.  These books include important success stories from Ben Franklin to Sam Walton.  Another very important article to read is:  50 Excellent Lectures for Small Business Owners.
    2. Learn the Truth About Failure:  Many entrepreneurs are stalled in their pursuit of success due to their fear of failure.  Even some of the most famous entrepreneurs met with failure before success.  To find out more about this, check out:  50 Famous People Who Failed Before Becoming Successful. Also see:  Famous Business Failures: Is it as Gloomy as it Sounds? Also see:  10 Famous Product Failures and the Advertisements That Did Not Sell Them.
    3. Learn the Truth About Finances Required:  Not all entrepreneurs come from wealthy families.  It can be challenging to come up with the funds required to begin a business.  Find out how some very famous entrepreneurs became successful in the article:  Famous Entrepreneurs Who Hit it Big With Humble Beginnings.
    4. Learn How Women Have Become Successful Entrepreneurs:  Some very successful entrepreneurs have been women.  Check out:  Most Inspiring Entrepreneurial Women.
    5. Learn How to Network:  One of the best ways to get a product or company known is through social media.  Part of an entrepreneur’s success is through finding their customers and their niche.  Check out:  5 Top Networking Tips for Small Businesses.

    Once an entrepreneur has developed a strong idea of the direction they want to take, they need to work on their feasibility study.  Investors will want to see this to be sure that their idea is sound. Another important aspect of creating their new business is deciding on a vision and mission statement.  Check out The Top 10 Mission Statements in 2011. Once an entrepreneur has received enough funds to get their new business off the ground, they may want to consider whether or not to go IPO.  Many companies like Facebook have waited and not gone this traditional route.  Find out Why Companies Are Not Going IPO due to fear of the past dot com crash.

     
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