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Start-Up Lesson 101| Subject: Terms

I brought together the most used terms in the start-up world. Let's take a closer look at them together.

Lean Start-up: It explains the situation where the entrepreneur takes quick maneuvers by trying the product or service he creates on small customer groups by avoiding processes that require large cost and long R&D studies. During these tests, it is measured when the initiative should accelerate and when it should stop.

Social Entrepreneur: An entrepreneur who aims to make a profit, but uses the profits he earns to produce benefits for society. It is the type of venture that has been popular lately. They use their profits in social responsibility projects. Their ideas are based on the principle of producing benefit to society.

Fintech: Combining financial services with technology, it produces services for areas such as mobile payment, money transfer, income and expense tracking, credit and crowdfunding.

Innovation:  The words innovation and invention are often confused. The main difference between the two is this: innovation is bringing innovations to something that already exists. Invention is discovering from scratch.

MVP – Minimum Viable Product:  It is the name given to the prototype of the product or service in the mind of the entrepreneur with the minimum applicable features. 3 stages are used when creating the MVP. The first of these is the learning method. Establishes hypotheses about assumptions and tests them by giving correct metrics and obtains results. The product to be tested is created with the exchange rate, which is the second method. The results obtained by the measurement method, which is the last method, are examined. Continuation or pivot decisions are made.

Pivot:  It can be considered as the development of the business model and making it different. Many startups may not get the results they want in the first place. Therefore, it may need to change its business model. During this development, new features can be added as well as unused features can be canceled.

Brand Equity:  Brand value is the reputation given to services and products. In other words, it is the commercial value of a product or service's brand name derived from consumer perception.

Growth Hacking:  Before starting a project, it is the entrepreneur's test of this project with certain methods and to achieve the highest performance as soon as possible.

Launch:  The term used to describe the implementation of a startup idea, or the active launch of a website.

3F (Friends, Fools and Family):  This pattern, which also takes place as 3A (Friends, Fools and Family) in Turkish; It's a fun term to describe the resources that fresh entrepreneurs get support from at the start.

Churn Rate:  It is the ratio of total customers lost by an enterprise in a given time period. A low Churn Rate is a sought-after criterion by investors.

Early Adopter:  Customers who buy a newly launched product or service as soon as it is released.

Freemium:  It is a membership model in which a business offers its products or services to its customers for free on a limited basis and then requests a subscription for extra features. It is often used in internet-based businesses.

Gamification:  Education, sales, etc. of game thinking and all the factors that make the game a game. use in the fields.


Retention Rate:  It is the retention rate of acquired customers. It should not be forgotten that keeping old customers in a business is more profitable than acquiring new customers.

Business Model Canvas:  Find out where the venture or company is, its goals, revenue/expenditure structure, value proposition, customer, marketing activities, key components, etc. It is a business model that shows its features and makes it easier for the investor to see them at a glance, to get information about the startup or company and to brainstorm.

DNA Pattern:  It is a model that examines the business in 3 groups as design, needs and wishes. It answers the how, what and why questions.


B2B (Business to Business):  It is the short definition given to intercompany marketing or sales practices. It is a system established for B2B companies to get the materials they need. In this respect, it functions as a supply market for B2B companies. Many companies have the opportunity to easily sell the products they need during the production of goods and services or wholesale intermediate goods over the internet.

B2C (Business to Consumer):  It is a revenue model in which a company sells to natural persons. In B2C, prices and products are published clearly. Delivery conditions, warranty conditions, price and other features of the product are determined unilaterally by the manufacturer or seller and presented to the consumer. In B2C, consumers can be individuals or a retail sales channel. There is no single customer criterion here, but generally the term "B2B" is used when the customers are companies and "B2C" when they are individuals.

C2C (Consumer to Consumer):  It is a revenue model where people make e-sales to other people. In the C2durC e-commerce model, consumers come together on an e-commerce site and exhibit their products/services, and the buyer consumers buy that product/service from the e-commerce site.

SWOT Analysis:  It is a strategic technique used to identify the strengths and weaknesses of an institution, technique, process, situation, or person in a project or an initiative, and to identify opportunities and threats arising from the internal and external environment.

Deck/Pitch Deck (Presentation):  It is a presentation with a maximum of 10 slides that briefly, meaningfully and clearly describes every aspect of the entrepreneurial idea.


Elevator Pitch (Elevator Speech):  It is a short presentation in which an entrepreneur demonstrates his/her abilities to introduce himself/herself to a stranger, express his/her business ideas and persuade others in as short a time as an elevator ride (30-60 seconds). Another reason why this style of presentation is called elevator speech is that entrepreneurs with always busy CEOs only get a chance to catch up with the 30-second gap in the elevator and present their idea.

SaaS (Software as a Service):  Software as a service (SaaS) enables users to connect and use cloud-based applications over the Internet. E-mail, calendar and office tools are examples of these applications.


SEO – Search Engine Optimization:  It covers the actions taken to make a company's internet account appear at the top of the list in searches.

UX (User Experience):  It stands for “user experience” and is important for creating a long-term perception of value as well as sustainable satisfaction. User experience design is used in the process of creating a new product or service.

Accelerator/Incubator: It is the center where new entrepreneurs are incubated with the support of "consultants", "space" and sometimes "cash" to develop their business.

Boot Strapping:  It is the situation where the entrepreneur starts his company with little capital (his own capital) or with the money he earns from the business.

Burn Rate:  The rate at which entrepreneurs spend their cash/assets is called. In other words, it is defined as the rate at which a new company consumes its initial capital to cover its fixed costs before cash begins to flow from the business's business activities.

Exit (Company Transfer):  It is the exit of enterprises that have become incorporated and reach a certain level, by selling the company to a completely different person considering the future value of the company.

IP – Intellectual Property:  It is the name given to internal knowledge that a company cannot copy by its competitors.

Seed Funding (Core Investment):  It is the first small-scale investment that the entrepreneur will take to bring his idea to life.

VC – Venture Capital:  It is the name given to investments made in a risky new venture or in companies that need financial support after a certain period of time.

Angel Investor:  It is the term used for individual investors who invest in ventures that are in the establishment phase with the method of becoming a partner to companies per month. They invest between TL 10,000 and TL 100,000.

Requirements for Being an Angel Investor:

  • Having an annual income of 200,000 TL or more.

  • Its total assets must exceed 1,000,000 TL.

  • Having worked in a financial institution for more than 2 years in the field of portfolio management at manager or higher level.

  • Having worked as Assistant General Manager or higher in a company with an annual turnover of more than 25,000,000 TL.

  • To have worked in one of the incubation or technology development centers for a minimum of 2 years and to have invested a minimum of 20,000 TL in at least one company.

Investors who provide one of these can invest in ideas as angel investors.

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