Tag Archive | testing

The Startup Dictionary – Learning the Lingo #3

This is the next update to our Startup Glossary.

A few months ago we launched our very own startup glossary to help others learn the lingo. This is the latest installment of the commonly used startup buzz words being used in the community. We plan to update the main startup glossary later in the week. Please contact us if you have any submissions or suggestions.

The following are some of the startup phrases or startup buzzwords we are aiming to include in future updates:

Early Majority
Innovators
Laggards
Late Majority
Long Tail
Low Hanging Fruit
Monetise
Ninja
Rockstar
Series A Financing
Sweat Equity
Startup
Stealth
Stack
Term Sheet
Traction
Vertical
Web 2.0

+ A +

A/B Testing

A/B testing, split testing or bucket testing is a method of marketing testing by which a baseline control sample is compared to a variety of single-variable test samples in order to improve response or conversion rates. (Source: Wikipedia)

At its core, A/B testing is exactly what it sounds like: you have two versions of an element (A and B) and a metric that defines success. (Source: Smashing Magazine)

+ C +

Crowdfunding

The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet. (Source: Oxford Dictionaries)

Kickstarter is probably the most well known and largest funding platform for creative projects.

+ E +

Early Adopter

An early adopter, lighthouse customer or trendsetter is a person who embraces a given company, product, or technology before most other people do. Early adopters form an early element of the technology adoption life cycle, a model that portrays the spread of new ideas and technology. (Source: Wikipedia)

The other categories include:

Innovators
Early Adopters
Early Majority
Late Majority
Laggards

+ F +

Freemium

Freemium is a business model by which a product or service (typically a digital offering) is provided free of charge, but a premium is charged for advanced features, functionality, or virtual goods. The word “freemium” is a portmanteau combining the two aspects of the business model: “free” and “premium”. (Source: Freebase)

Funding

Funding or financing is when a business needs an external source of finance (or borrowings) where the capital needs of the business exceed its own available resources and those of any shareholders. (Source:Business Dictionary)

Well known venture capitalist (and co-founder of Ycombinator) Paul Graham outlines startup funding sources into the following categories:

Self Funded
Friends and Family
Angel Investors
Seed Funding Firms
Venture Capital Funds
Other – Includes grants

(Source: Paul Graham)

The amount of money you achieve from sources can vary, but may follow the below guidelines:

Angel Funding (usually equity) – £25,000 to £500,000
Commercial Lending – various
Venture Funding (usually loan, convertible loans or equity) – £500,000 to £5,000,000
Crowd Funding (usually direct investment) – £5,000 to £1,000,000

(Source: London Funding Conference)

+ G +

Gamification

“Gamification involves applying game design thinking to non-game applications to make them more fun and engaging. Gamification can potentially be applied to any industry and almost anything to create fun and engaging experiences, converting users into players.” Some startups utilise gamification to incentivise user engagement.

(Source: Gamification.Org)

+ H +

Horizontal

Horizontal is a term often used to describe ones business model or business strategy. In this context it focuses on the breadth of one’s product and market.

Horizontal strategies aim to sell a product across multiple markets (moving left to right across markets). Horizontal strategies may suit products that appeal to different sorts of customers, not just a single market segment or industry.

In contrast, vertical strategies aim to sell a product in just one market (moving up and down across a product).

(Source: Entrepreneurs Journey)

Human Capital

“The set of skills which an employee acquires on the job, through training and experience, and which increase that employee’s value in the marketplace.” It may be considered an economic view of a human being – in terms of knowledge and creativity contributions towards an organisation.

(Source: Investor Words)

Hyperlocal

Relates to a “well defined community with its primary focus directed toward the concerns of its residents”.

(Source: Wikipedia)

Current trends apply the terms when referring to applications that make use of mobile and GPS technologies. Such applications connect users to nearby products or services.

+ M +

Minimum Viable Product (MVP)

A Minimum Viable Product has just those features that allow the product to be deployed, and no more. The product is typically deployed to a subset of possible customers, such as early adopters that are thought to be more forgiving, more likely to give feedback, and able to grasp a product vision from an early prototype or marketing information.

(Source: Wikipedia)

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Technorati – Does the verification process work? (Yes it does!)

Earlier in the week we wrote about our experience with registering the blog with Technorati (See this post).

We are proud to announce that our verification application was successful! This means we are one of the many thousands of blogs listed in their database. Our current stats are shown below. While not fantastic, we will continue to track our performance over time.

Our profile is available here:
Technorati Profile

Technorati Stats:

Technorati Authority: 100
Rank: 37679

Business Authority: 80
Rank: 3449

Small Business Authority: 80
Rank: 1486

Technology Authority: 1
Rank: 12500

Finance Authority: 1
Rank: 1851

Info Tech Authority: 1
Rank: 6992

Gadgets Authority: 1
Rank: 4371

—-

Technorati Code: xxxx

This post is not entirely inline with the ‘genre’ of the blog however we have been slowly registering the blog on various social media sites. We are working through the Technorati verification process that requires you to publish a blog post that contains your unique Technorati code (as above).

You need to prove that you are the owner of the blog. The process makes sense however an earlier attempt didn’t seem to work. Fingers crossed this time it works!

What is Technorati we hear you ask?

According to Wikipedia:

Technorati is an Internet search engine for searching blogs. By June 2008, Technorati was indexing 112.8 million blogs and over 250 million pieces of tagged social media. The name Technorati is a blend of the words technology and literati, which invokes the notion of technological intelligence or intellectualism.”

We will post back at a later date to share our Technorati experiences. In the interim you can refer to our earlier post that outlined our recent findings on Twitter and StumbleUpon (in summary we are not impressed by the results):

Project Trout – Social Media Experiment Update #2

Peace out!

.

You might also enjoy:
+ Social Media Experiment – Twitter, Google+ and now Facebook
+ Project Trout – Social Media Experiment Update #3
+ Lessons Learned From A Hacker News Traffic Spike
+ Startup Weekend: What to expect? How to prepare?

Welcome new readers! If this is your first time here, you might want to start with a new article or read through our older submissions.

Where to next? Check out a random article.

Stay in touch: Check us out via RSS Feed, Twitter, Google+ and Facebook.

Join the conversation: Leave a comment or this post.

Technorati – Does the verification process work?

Technorati Code: SP3Q79DVZB7M

This post is not entirely inline with the ‘genre’ of the blog however we have been slowly registering the blog on various social media sites. We are working through the Technorati verification process that requires you to publish a blog post that contains your unique Technorati code (as above).

You need to prove that you are the owner of the blog. The process makes sense however an earlier attempt didn’t seem to work. Fingers crossed this time it works!

What is Technorati we hear you ask?

According to Wikipedia:

Technorati is an Internet search engine for searching blogs. By June 2008, Technorati was indexing 112.8 million blogs and over 250 million pieces of tagged social media. The name Technorati is a blend of the words technology and literati, which invokes the notion of technological intelligence or intellectualism.”

We will post back at a later date to share our Technorati experiences. In the interim you can refer to our earlier post that outlined our recent findings on Twitter and StumbleUpon (in summary we are not impressed by the results):

Project Trout – Social Media Experiment Update #2

Peace out!

.

You might also enjoy:
+ Social Media Experiment – Twitter, Google+ and now Facebook
+ Project Trout – Social Media Experiment Update #3
+ Lessons Learned From A Hacker News Traffic Spike
+ Startup Weekend: What to expect? How to prepare?

Welcome new readers! If this is your first time here, you might want to start with a new article or read through our older submissions.

Where to next? Check out a random article.

Stay in touch: Check us out via RSS Feed, Twitter, Google+ and Facebook.

Join the conversation: Leave a comment or this post.

Project Mackerel – Calling all Beta Testers (Follow Up)

This is a quick thank you to all those enthusiastic people who responded for our call for testers (Post: Project Mackerel – Calling all Beta Testers). We will be in touch shortly with updates and details on our soon to be released prototype for early feedback.

To those people still to reply, there is still time. We are always keen to hear from others. So please get in touch if you are keen to get involved.

—-

Project Mackerel is our very own web portal project. We have been working on an online portal idea to help job seekers impress in interviews. While this is not totally in keeping with the ‘self-employment’ genre of this blog, we are pitching an adaptable idea to try and help those out of work, or those looking for the next step upwards.

We are currently working on our (very) early prototype and require feedback from willing testers. You may be an experienced programmer or newbie web surfer. We are aiming to start initial testing next month. We just need enthusiastic volunteers to give us some early feedback and helpful suggestions.

Anyone interested, please get in contact via the contact links or e-mail (sparkNlaunch at gmail). When replying it would be useful to know a little bit about yourself.

Thanks!

We are also open to any advice in this department. We have been researching and there appear to be various avenues to go down. We plan a later post to document our findings and experiences.

Useful links:
http://betali.st/
http://www.thebetafamily.com/
http://www.entrepreneur.com/blog/222566

.

You might also enjoy:
+ Learning From Other Startups – 6 Real Life Stories
+ Startup Myths – I shall not be fooled again by gurus
+ Social Media Experiment – Twitter, Google+ and now Facebook
+ Project Trout – Social Media Experiment Update #3

Welcome new readers! If this is your first time here, you might want to start with a new article or read through our older submissions.

Where to next? Check out a random article.

Stay in touch: Check us out via RSS Feed, Twitter, Google+ and Facebook.

Join the conversation: Leave a comment or this post.

Project Mackerel – Calling all Beta Testers

Project Mackerel is our very own web portal project. We have been working on an online portal idea to help job seekers impress in interviews. While this is not totally in keeping with the ‘self-employment’ genre of this blog, we are pitching an adaptable idea to try and help those out of work, or those looking for the next step upwards.

We are currently working on our (very) early prototype and require feedback from willing testers. You may be an experienced programmer or newbie web surfer. We are aiming to start initial testing next month. We just need enthusiastic volunteers to give us some early feedback and helpful suggestions.

Anyone interested, please get in contact via the contact links or e-mail (sparkNlaunch at gmail). When replying it would be useful to know a little bit about yourself.

Thanks!

We are also open to any advice in this department. We have been researching and there appear to be various avenues to go down. We plan a later post to document our findings and experiences.

Useful links:
http://betali.st/
http://www.thebetafamily.com/
http://www.entrepreneur.com/blog/222566

.

You might also enjoy:
+ The Startup Dictionary – Learning the Lingo #3
+ Learning From Other Startups – 6 Real Life Stories
+ Startup Myths – I shall not be fooled again by gurus
+ The Bootstrap Challenge – Walking the Talk

Welcome new readers! If this is your first time here, you might want to start with a new article or read through our older submissions.

Where to next? Check out a random article.

Stay in touch: Check us out via RSS Feed, Twitter, Google+ and Facebook.

Join the conversation: Leave a comment or this post.

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