30 September, 2020 
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10 Important Terms In The Startup World

The flourishing of startups and all kinds of digital technologies that support young businesses are changing our daily lives, even if we are not aware of it. The vocabulary of the startup world may seem confusing, because, as usual in the business world, most of these words are borrowed from the English language. Out of habit, they can cut people’s ears, and have already become a reason for malicious jokes about the purity of the language.
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10 Important Terms In The Startup World

But many people forget that language is a living structure and new words appear in it not chaotically under the influence of fashion, but as a result of complex and deep social processes. As a result of the same processes, cryptocurrencies and ICOs appeared, which, in addition to developing their terminology, inherited the standard startup vocabulary.

So, what are the important terms from the startup world you need to know so that a business conversation does not turn into a set of incomprehensible sound combinations for you? There are a lot of them there, and new ones periodically appear, since the speed of development of business technologies in our time is simply off the scale. Here are the main ones that have already become firmly established in business vocabulary.

Read: 10 Interesting Blockchain Startups In Europe In 2020

Facilitator

A facilitator is a person who ensures effective communication within a group of people. What does this mean? He makes sure that the entire group of people is equally involved in the work process during a business meeting or workshop and contributes to building consensus within it.

Founder

Everything is simple here, the creator of a startup is called a founder. Accordingly, co-founders are its co-founders, if the project was born with the active participation of several people.

Elevator pitch

The task of a pitch elevator is to present a product or service in a very short time, hence the analogy with an elevator, the path of which from the upper floor to the lower one takes a few minutes.

Networking

Networking in a startup environment is the process of gaining useful connections and communications. For this, startups and other young talents actively participate in all kinds of conventions, conferences, startup weekends, and other hangouts where investors, venture capitalists

Business angel

Angels exist and they are among us. Business angels are enthusiastic investors who, at their peril and risk, financially support startups that seem promising to them.

Death Valley

This beautiful optimistic phrase is a period in the development of a startup when all its funds and investments have already been invested in it, but it has not yet brought profit. The first stage in business is inevitably accompanied by material difficulties, and it is he who is called Death Valley in startup language.

Crowdfunding

Glory to the Internet, where now you can ask people for money to launch your startup. Crowdfunding is a startup fundraising campaign in which you motivate your audience to invest in your project in exchange for something attractive to them, such as bonuses and services.

Bootstrapping

If you are a strong and independent entrepreneur who does not need handouts from venture capitalists in exchange for a fair share of the pie in the future, and you have not succeeded in raising capital in your startup in other ways, you have no choice but to embark on the thorny path of bootstrapping  «Lace-up»). This means that you use only your funds, skills, and resources to develop a startup, without attracting third-party investments.

Mentor

A mentor is a mentor, an advisor. A person who has baggage of successful projects behind his back and who can help your startup with practical advice, established connections in the environment you need, and sometimes even money, but, as a rule, in exchange for a share in your startup.

Upside

Upside  a tendency for the quotes of a stock, option, or cryptocurrency to rise. Lets look at the simplest example from the field of crypto trading. If you buy cryptocurrency upside, you can then make a profit by reselling them at a better price. So, the downside is a tendency for the price of cryptocurrencies to fall. The upside is good, the downside is bad.

Of course, these are far from all important terms in the startup world, but their knowledge already makes many important aspects of entrepreneurship clear. The more terms you learn, the more processes you will understand. Good luck!

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