Startup Terms: Essential Knowledge for Founders

Imagine you're building something new, like a toy.

Before asking for money, you need to understand some special words.

A 'Minimum Viable Product' is like your basic toy, just enough to show people it works.

'Bootstrapping' means using your own money or what you earn to grow.

'Burn rate' is how quickly you spend your money, and 'runway' is how long you can keep spending.

'Seed funding' is the first money you get from investors.

Knowing these terms, like 'cap table' which shows who owns what, helps you explain your idea and show investors you know what you're doing.

It's like knowing your ABCs, very important!