Series on Startup Lingo: E

…terms you should know

  • Early Adopters
    Early adopters are customers that use your product or service long before the general public. They usually have a high willingness to buy and tend to provide insightful and honest feedback to help you improve the product or service before taking it to the larger target audience.
  • Elevator pitch
    A brief statement providing an overview of your business.
  • End-User
    The target customer, for whom the product or service is ultimately designed for. The goal of a startup is usually for the product or service to be useful to the end user.
  • Equity
    Equity represents the value of shares issued by a startup to its respective shareholders. Equity is calculated by taking away a company’s total liabilities from its total assets.
  • Evangelists
    Evangelists are basically ambassadors for your business. You as a the founder should be the number one evangelist, convincing and converting people to believe in and use your products. An evangelist can be a team member, a board member, or anyone else with a purpose in your business.
  • Exit Strategy
    An exit strategy is a plan to sell off ownership of a company either via mergers, acquisitions or IPO. The exit strategy is usually set up in advance to give the founder/owner a way to reduce or liquidate their stake in the business (generally for profit). It can both be for when to close the business due to poor profitability or when to sell due to reached targets.

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We’re creating opportunities and designing experiences for early stage African founders to move from 0 to 1