Business Basics
What is a business model?
a plan for a business makes money.
What is revenue?
revenue is the total money a business makes before expenses.
What is an Entrepreneur?
An Entrepreneur is a person who starts and runs a business.
What is advertising?
Advertising is promoting a product or service to attract customers.
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Budget
What is profit?
Profit is the money a business keep paying expenses.
What is an financial goal?
A financial goal is a target for saving,earning,or spending money.
What risk does entrepreneur take?
They risk losing their money,time,and effort.
What is target market?
A target market is the specific group of people business wants to sell.
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Profit
Name one type of business model?
Retail,subscription,service,Manufacturing,or online sales.
What is a liability?
A liability is something you owe,like debt or loans.
What is innovation?
Innovation is creating new ideas,products,or ways of doing things.
What is branding?
Branding is creating a unique name,design,or symbol for a product or business.
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Revenue
What is budget?
A budget is a plan for how to spend and save money.
What is equity?
Equity is the value of ownership in a business after debts are paid
What is opportunity cost?
Opportunity cost is what you give up when you choose one thing over another.
What is market research?
Market research is gathering information about customers and competitors.
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Marketing
What is the purpose of a business plan?
A business plan helps set goals,plan for the future,and attract investors.
What is the difference between being wealth and being rich?
Being rich means having a lot of money now,being wealthy means having long-term financial security.
Name one reason someone might start a business?
To be their own boss,solve a problem,or make money.
Name one way to promote a product?
Commercials,social media,posters,giveaways,or events.
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Entrepreneur