Although, they say that money is cheap for startups in North America (especially for Tech & ICT Startups), financing your venture is no easy task.
Pitching an idea requires using language that your potential investors understand which is where MarkiTech.ca can certainly help.
It would be a difficult task for any startup seeking to raise finances and learning the technicalities associated with it. To convert ideas into reality, aspiring startups need to share their plans for growth and the targets they set with potential investors.
The first thing for startups to learn is to understand these buzz words associated with raising money and extracting the maximum benefits out of it. Knowing these buzz words will not guarantee any startup of raising finance from investors in any way, but having knowledge of it has no harm.
1) Incubator: In GTA Canada, there are places like MARS, VentureLab, CommuTech etc., where you are provided with mentorship, a space to work and may be provided cash support initially to get any startup from the ground-up.
2) Disruptive Technology: Any technology that could change the very dynamics of way things are being done could be referred to as disruptive. Examples associated with this could be an Apple iPhone, Air BNB or UBER!
3) First Mover Advantage: It means aspiring entrepreneurs/startups are first into the market with a new unique idea, that may give them an advantage to capture the domain.
4) Burn Rate: It refers to the amount of cash being spent by a startup, which may mean losses for several years before breaking even.
5) Exit Strategy: How does a startup plan to sell their company? Who will be interested in acquiring your business and ensuring that the investors receive more than their share of what they invested.
6) Fremium: A business model in which basic services are provided free of charge. To procure premium services, a fee must be paid. For example, in the Google Play Store, applications are available on freemium model but some require an in-app purchase to unlock these premium services.
7) Growth Hacking: Using non-conventional means to quickly accelerate growth of a startup, for example using social media. This is another opportunity to work with MarkiTech.ca as we provide end to end digital marketing services.
8) Minimum Viable Product (MVP): A product that has minimum possible features which make it ready for shipping for early adopters to view and purchase.
9) Valuation: Startups have a market value, how much their business is worth etc. Now this valuation can also be done even before the MVP is build, during MVP and after MVP is launched. Valuation is no longer a guess work but rather gotten scientific.
10) Lean Startup: It is a scientific way of initiating and managing startups, ensuring the product gets into the consumer hands faster. The lean startup acts as a guidance tool on how to assist a startup, how to steer, when to turn, when to keep persisting and grow a business with increasing acceleration.
11) Low Hanging Fruit: The easiest way for a startup to earn money quickly. It is hard to pinpoint but crucial for startups success.
12) Bleeding Edge: It is the cutting edge of technology, something astronomical which makes a startup believe they are right there or its business model is one of a kind.
13) Leverage: A startup using technology to their benefit. For example, it means using anything to the advantage of their business.
14) Seed Capital: It is the initial capital or finances required to start a startup. This kind of funding usually comes from business owners, family members or friends.
You need help – we can help you as we have solutions to grow your business
At MarkiTech, we help commercialize your technology product or service in the B2B space with focus on Mobile and Digital Marketing – such that we save you time and maximize your return on investment (ROI). We can do this as we are the technology, product and marketing experts with over 50+ years of partner experience developing, launching and managing over 30 technology products and services in 7 different verticals and 3 start-ups.
We know the key success factors of product success better that anyone with focus on bringing marketing & technology worlds together. You cannot afford not to spend money on marketing especially if you are creating a technology product. That could be the difference between putting it on the shelf or success.
You can start with “limited time” free consultation offer with no obligation by clicking on link below or go to our website (www.markitech.ca), email to firstname.lastname@example.org call toll free @ 1-844 – 4MARKIT.
Created by Nauman Jaffar (CEO, MarkiTech) on May 30th 2015