Is your company on the lookout for a new acquisition? Have you got your eyes on a nice candidate, possibly a start-up company that has made great strides and show good promise?
Before you start any negotiations, however, take a second to look at what you are dealing with. Much like the youth of today, it can, at times, appear that when talking to a start-up, that you are talking in two different languages.
For any corporate buyer, there are several core nomenclatures that you need to know and understand before you can communicate any take-over or acquisition based intentions.
Keep reading for a crash course in how to speak the start-up lingo.
1. Growth Hacking
Enhancing company growth through means of harnasses both technology and analytics. Making the most of the available resources to lower the cost of marketing efforts without impacting the company growth.
Social media for the fast moving age. Short single sentence blogs accompanied by a video or snappy image. Think of Twitter, Instagram, and Steemit and you have found the epitome of microblogging.
3. Data Mining
Using large data sources filled with data to identify patterns and extract key information that can be of use to your company without polluting your systems with unnecessary information.
4. User Experience
The user experience is key these days and is exactly as it suggests. It is a means of controlling and using the emotions a user may feel while browsing a site or using a product. It focuses on the harnassing those emotions to draw the user in and ensure they have a positive experience.
An Application Programming Interface is a source of data pulled from one source in a format that can be used for web development. A great way of bringing data from an older system into a more modern application.
For any savvy tech entrepreneur, using API technology will be integral to their growth plans.
A common error is that DevOps is a role within a team. The truth is that it is a process. One that unites the core members of a development cycle within a single team. The result, a quicker more efficient turn-around time for your product development.
7. Cloud Computing
A question of data storage. Rather than being saved to a physical or in-house location, your data is saved to a number of different remote servers that are online accessible.
When people talk about this they will fall back on the famous line ‘it’s in the cloud’, and now you will know exactly what they mean.
8. Data Visualization
Another nice buzzword used in startups, data visualization is another way of talking about graphs and visual designs used to show statistics, and data in a presentable format. Think PowerPoint, graphs and other meeting-driving materials.
9. Native Apps
When you hear people within a startup talking about a native app, they are referring to an application that only runs on one specific platform.
This could be iOS specific, Android or even an internal solution that is not cross-compatible with anything else.
10. Big Data
Big data is a collection of a large amount of data. An amount too large to be used by any traditional software and must, therefore, be combed through first, extracting the relevant data. See data mining above.
Big data is an effective way for companies to get the data they need from already available resources.
A Corporate Buyer Must be Fluent in the Langauge of Start-Ups
As a corporate buyer, if you are charged with leading the acquisition of a start-up company then you need to be able to sit down with them and speak the lingo.
While the above terms are not all necessarily new, they are key when it comes to young and modern business practices.
Check out some of our other posts for more of the latest news on the hottest tech trends in business today.