In startups, what does MVP stand for?
AnswerMinimum viable product
An MVP is the simplest version of a product that lets you learn from real users.
Business · Facts & stats
Venture facts & stats
7 fact-checked facts about starting new ventures, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is a business plan?
AnswerA document describing a venture's goals and how it will reach them
Business plans lay out the market, strategy, operations and finances of a venture.
Going deeper
The word 'entrepreneur' comes from a French verb meaning what?
AnswerTo undertake
It comes from French 'entreprendre', to undertake.
What does SWOT stand for?
AnswerStrengths, weaknesses, opportunities, threats
A SWOT analysis weighs internal strengths and weaknesses against external opportunities and threats.
What is the break-even point?
AnswerWhere total revenue equals total costs
At break-even a venture neither makes nor loses money; beyond it, it turns a profit.
Expert level
The English word 'venture' is a shortened form of which word?
AnswerAdventure
Venture came from Middle English 'aventure', meaning a risky undertaking.
How is gross margin calculated?
Answer(Revenue minus cost of goods sold) divided by revenue
Gross margin shows the share of each sale left after the direct costs of making it.
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