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commonly used startup jargon. So, here are some of the most important startup terms explained with analogies appropriate for a ten year old.is crucial if you want to communicate with investors and other stakeholders easily. Moreover, some startup terms are extremely useful as they serve as a mental model that helps you understand the problems and opportunities for your project better.
That said, if you don’t have any background in business it could be challenging to understand a lot of the commonly used startup jargon simply because the individual terms are often explained with references to other business terms and jargon.So, here are some of the most important startup terms explained with analogies that a ten year old would understand.Product-market fit is when a company makes something that people want to buy. Think of it like a puzzle.
MVP is important because it allows you to test your idea quickly and get feedback from people, so you can make it even better before you invest a lot of time and resources building something that might not be what people want.Validating a startup is similar to trying out a new recipe. Consider that you want to bake a cake but are unsure if the recipe will turn out well or if other people will enjoy it. So you bake a small quantity of the cake and serve it to your friends and family.
This is similar to how a startup uses agile methodology for their projects. In agile, a startup breaks their big project into small chunks, called"sprints". They work on one sprint at a time, and at the end of each sprint, they get feedback from customers and make adjustments to the project. This allows them to get their product or service to market quickly and make adjustments as they go, instead of waiting until the end to make changes.
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