All startup terms you need.

The seed stage in bootstrapped startups is the initial phase. Founders use personal resources for activities like market research, product development, and early testing. External funding is not sought at this stage. The goal is to validate the business concept before scaling.

Startup incubators are programs that offer early-stage companies and entrepreneurs mentorship, funding, and resources to help them grow. In exchange, incubators receive a share of the company's equity.

A startup pivot is like a strategic shift or change of course. It's usually prompted by insights gained from user testing and analysis. Startups make pivots to adapt their product or strategy to better suit the needs and preferences of the market and their customers.

Your exit strategy is how you plan to cash in on your company. It's like your future game plan. You might sell it, team up with another company, go public, or close shop. Knowing this ahead of time helps you stay prepared.

Your "burn rate" represents your monthly expenses relative to your available capital. Calculate your company's potential runway by dividing your total funds by your burn rate.