What is an 'elevator pitch'?
AnswerA short summary of an idea delivered in about the length of an elevator ride
An elevator pitch explains an idea in roughly 30 to 60 seconds.
Business · Facts & stats
Founder facts & stats
7 fact-checked facts about startup founders, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What does 'B2B' stand for?
AnswerBusiness to business
B2B companies sell to other businesses rather than to individual consumers (B2C).
Going deeper
In startup terms, what does it mean to 'pivot'?
AnswerTo change strategy significantly based on what you learn
A pivot keeps the company going but shifts its product, market or approach.
What does SaaS stand for?
AnswerSoftware as a Service
SaaS is software delivered over the internet, usually by subscription, instead of installed from a disk.
What does LLC stand for in business names?
AnswerLimited liability company
An LLC is a business structure that limits owners' personal liability for company debts.
Expert level
What is a startup's 'burn rate'?
AnswerHow fast it spends its cash
Burn rate is the pace at which a company spends its cash, usually measured per month.
What does a startup's 'runway' measure?
AnswerHow long it can operate before running out of money
Runway is cash on hand divided by monthly burn, giving the months the company can keep going.
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