Business Life Cycle
This is the entrepreneur-in-the-garage stage.
What is startup?
This is typically a very small business, owned and operated by one person.
What is a a sole proprietorship?
Any form of wealth that can be used to create more wealth
What is capital?
something that can be touched
What is a tangible product?
The expense required to acquire or produce something.
What is Cost?
Selling your idea to investors or banks
What is raising capital?
When two or more people start a business together
What is a partnership?
Money, goods, or services owed to someone else.
What is debt?
Besides funding government services, ____decrease the amount of profit a business earns.
What are taxes?
Money earned after expenses are subtracted from revenue.
What is profit?
You are seeing a sharp increase in sales, and you’re making a small profit.
What is Growth/Takeoff?
A very large company with multiple factories and hundreds or thousands of employees.
What is a corporation?
A person who takes initiative in business, organizes and manages business resources and operations, and assumes the risks of the business.
What is an entrepreneur?
A product that cannot be touched.
What is an intangible product?
Total sales from goods and services before expenses and taxes.
What is revenue?
The rapid growth in sales has leveled out, and you are now focused on maintaining your market share and making profits
What is Maturity?
Combine aspects of both a partnership and a corporation in that they operate and are taxed as a partnership or sole proprietorship but have limited liability for the owners.
What is an LLC?
money paid for the use of another person’s money.
What is interest?
The money originally invested or the amount borrowed on which interest is calculated.
What is principal?
An item of value owned by an individual or firm.
What is an Asset?
Your business has lost its edge against the competition and sales are dropping,
What is decline?
A disadvantage of this business is that it's complex to start and operate.
What is a corporation?
Intangible property that is a result of something created by the mind—for example, trademarks, and patents.
What is intellectual property?
The world of business, trade, and economics.
What is a marketplace?
Increasing market penetration by moving into new markets and broadening the consumer base or increasing the product line to sell a variety of products
What is diversification?