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ask
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specific amount of money or type of assistance requested in a pitch
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corporate narrative
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story about how a successful company grew from something small into something broad and powerful, serving thousands or even millions of people; it may have marketing purposes, and it may serve as an inspirational story for leaders and employees
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elevator pitch
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abbreviated pitch, a memorized talk that can get you into the door to put your full pitch deck on display
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entrepreneurial contest
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any entrepreneurial competition other than a pitch competition; contests may entail submitting business models, long-form prospectuses, or forms tailored to contest specifications
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fear of missing out (FOMO)
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need to keep up with peers and the personas they represent in social settings, particularly on social media
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iceberg principle
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writing principle useful for preparing contest documents and pitch decks; following this principle, each word or sentence in the submission or presentation should be backed up with a wealth of supporting information and details that go unspoken in the pitch or proposal, but which you have at the ready should an investor take interest in the details and your knowledge of them
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ideation
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purposeful process of opening up one’s mind to new trains of thought that branch out in many directions from a stated purpose or problem
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mission statement
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statement of an organization’s reason for being that defines its primary long-term goal, explains what the venture will do, what value it will provide to the end customer, and how it will accomplish that action
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noncompete agreement
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formal agreement that the person signing the document will not work for another organization that is a direct competitor of their current employer during employment and usually for a specified length of time after employment ends
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nondisclosure agreement (NDA)
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contract that carries harsh financial penalties should one party to the agreement disclose what they know of the proprietary information
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pitch
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formal presentation in which you ask for something and that is delivered (usually) to potential investors in a startup
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pitch competition
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competition that may have cash prizes or mentorship opportunities for winners; you are expected to present your business idea in the form of a presentation, usually with a pitch deck
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pitch deck
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slide presentation that you create that gives a quick overview of your product and what you’re asking for
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problem-solution narrative
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brief story of a sentence or two that states a problem affecting many people and offering a solution that is innovative, unique, insightful, or all of these
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user interface (UI)
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what a customer sees when they use your product; having a variant of a UI is not necessarily grounds for establishing a patent, but having unique design in the broader sense may help you to secure patent protection
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value proposition
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summary describing the benefits (value) customers can expect from a particular product or service
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work-for-hire agreement
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agreement between an individual employee and a company states that ownership of innovations belongs to the company, even if an individual makes substantial contributions to the product