Startup Survival Quiz 🔥

What's the first thing you should do when a billion-dollar startup idea pops into your head?

• Build an app overnight

• Ask people if they even want it

• Call your cousin to register the business

• Panic, then hire a CFO

Answer explanation

Conduct market research because if nobody wants it, you’ve just built a beautifully useless thing.🎯

What's an MVP (Minimum Viable Product) in startup land (and no, it's not LeBron)?

• A product with full features

• Just enough features to test

• Something ready for Shark Tank

• A product with zero cost

Answer explanation

A Minimum Viable Product (MVP) is product with just enough features to test with early users.

The mindset that'll keep your startup alive when things go wrong is...

• "Perfect or nothing" energy

• Let me avoid risk like taxes

• Growth is the only way up!

• If I ignore it, maybe it'll fix itself

Answer explanation

A growth mindset is needed to power through difficulties.

The biggest reason startups fail before year two is?

• Poor branding

• Lack of funding

• Nobody actually wanted the thing

• A Weak team (vibes & vibes only)

Answer explanation

No market need. Solve real problems or get ghosted by the market. 👻

What makes a brand stick in your brain?

• A complex logo

• Emotional resonance

• Expensive marketing

• Slogans longer than a TED Talk

Answer explanation

Emotional resonance 🧠💛

Cash flow is basically:

• Total assets owned

• Money flowing in/out of your biz

• Profit after tax

• How much stock you're sitting on

Answer explanation

cash in, cash out = rhythm of survival 🎵

If you want to see how profitable you are, look at your:

• Balance sheet

• Income statement

• Cash flow chart

• TikTok analytics

Answer explanation

Income statement - it's where the profit is at ☕

Which business model is based on recurring payments?

• Freemium (free with benefits)

• Subscription

• One-time sale

• License-and-leave

Answer explanation

Steady coins, baby. 💸

Which business is built to scale like a space rocket?

• Handmade crafts

• SaaS - Software as a Service

• Freelance consulting

• Your local grandma's bakery

Answer explanation

SaaS - Software as a Service

Code don’t sleep 👨🏽‍💻

Why do you need a pitch deck (besides looking cool)?

• Manage payroll

• Impress investors

• Make logos

• Track expenses

Answer explanation

To present your business to investors.

Your startup’s Tinder profile 💅🏾