In this conversation, one student (Akinyi) discusses how to start a new business with her friends, Lee and Peter. Peter: So you really want to start your own business after you finish school? Akinyi: Absolutely. I want to have my own startup. Lee: I’m impressed. It seems like a difficult undertaking. Akinyi: Of course it will be hard. But I’m not afraid of hard work or failure. Peter: What do you need to do to create a startup? Akinyi: First I’d like think of a new way to solve a problem. I want…
startup : A startup is a company working to solve a problem that may not have a clear solution; it is a new business.
undertaking : An undertaking is a difficult or important task or project.
product : A product is something that is made or grown to be sold, usually in large quantities.
Prototype : Prototype: the first design of something, such as a product. From the prototype, other forms of the product are developed.
Iteration : Iteration is the process of repeating something over and over, in order to improve it.
Funding : Funding is money to be used for a specific purpose, such as starting a business.
angel investor : An angel investor is a person who provides money for startups.
launch : A launch is the event when something new, such as a new product or new business, is first offered or announced.
entrepreneur : An entrepreneur is a person who starts a business and is willing to risk loss in order to make money.