Entrepreneurship Terminology

noun a person who establishes an organization, institution, company, etc.

• The founder of the company is considered a visionary in the industry.
• Hey, did you know the founder of this place used to be a chef?
• The founder is a total boss, he knows how to get things done.
• As the founder of the organization, she planted the seeds of change and watched them grow.

noun a newly established business or venture

verb to set in operation or motion

• The start up company was founded last year and has already shown promising growth.
• I heard that new start up is getting a lot of buzz on social media.
• That start up is gonna be the next big thing, mark my words.
• Sometimes life feels like a never-ending start up, always trying to get off the ground.

noun A noun is a word that represents a person, place, thing, or idea. In this case, 'viable' is a noun that represents the ability of the product to succeed or be effective.

adjective An adjective is a word that describes or modifies a noun. In this case, 'minimum' is an adjective that describes the level or amount of viability required for the product.

• The company decided to launch their minimum viable product to test market demand.
• We're just putting out the minimum viable product for now to see how it goes.
• Let's just throw together a MVP and see if it sticks.
• In the world of startups, sometimes it's better to release a bicycle rather than waiting to perfect a car - that's the philosophy behind a minimum viable product.