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The words you hear in every beginner startup conversation.
Also explore Thinking Tools that make these words usable in decisions.Someone who starts and builds a business to solve a problem and make it grow.
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A young company trying to grow big, fast.
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The simplest version of your product that real people can try.
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A 1–9 score for how mature a technology is - from idea to real-world use.
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Basic scientific principles are observed and reported.
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A technology concept or practical application is formulated.
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Analytical and experimental proof of concept is tested in a lab.
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Components or basic prototypes are validated in a lab.
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Components are tested in a realistic or relevant environment.
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A system or subsystem prototype is demonstrated in a relevant environment.
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A system prototype is demonstrated in a real operational environment.
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The actual system is completed and qualified through tests.
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The actual system is proven through successful operations and production.
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How big the whole opportunity could be if everyone who might buy did buy.
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When people love your product so much they keep coming back and tell friends.
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A short slide presentation that tells investors your startup story.
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How many months your cash will last before you run out.
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How much money your company spends each month.
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An individual who invests their own money in early startups.
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Building your company with your own money and revenue - no outside investors.
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Proof that real people actually want what you're building.
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Break a problem into basic truths, then rebuild your answer from there.
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Solve hard problems by asking how to fail - then avoid those paths.
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Know what you truly understand - and stay honest about what you don't.
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What you give up when you choose one path instead of another.
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