Terms
Creating and managing a new business venture with the goal of achieving specific objectives, solving problems, and m making profit.
Entrepreneurship
Reviewing personal skills and attributes to determine your potential as an entrepreneur.
self assessment
A written document that explains what a business wants to do, how it plans to do it, and how it will make money.
Business Plan
Entrepreneurial Mindset
A set of attitudes and behaviors that include creativity, innovation, resilience, and a willingness to take risks and embrace challenges.
Environmental Scan
Researching external factors that impact your business, such as market trends and competitors.
The first part of the business plan. Gives a quick overview of the entire plan. It includes:
Executive Summary
A written document that explains what a business wants to do, how it plans to do it, and how it will make money.
Business Plan
Assessing whether a business idea is practical and achievable.
Feasibility
Where you explore and explain who your potential customers are, their needs, and the market size. It also looks at who your competitors are and what they’re doing.
Market Analysis
The level of consumer interest and need for a particular product or service in a specific market.
Market Demand
The level of interest and need for your product or service in the target market.
Market Demand
Company Description
what your business does, what products or services you offer, your business goals, and what makes your business unique.
The principles and standards that guide how businesses make decisions and conduct themselves, ensuring actions are fair, honest, and responsible.
Business Ethics
Calculating the expenses required to start and run the business.
Cost Analysis
Pitch Deck
A visual presentation that explains your business idea to investors or partners, covering the problem you solve, how your product works, your target market, and financial projections.