Business Basics
What is an entrepreneur?
A person who starts and runs their own business.
Which celebrity launched the beauty brand Fenty Beauty?
Rihanna
What is a logo?
A symbol or design used to identify a brand.
What is revenue?
Money a business earns from selling products or services.
If your lemonade stand isn’t getting customers, what’s one thing you could change?
Improve marketing, change price, or location.
What is a business plan used for?
To outline a company’s goals and how it plans to achieve them.
In Into the Spider-Verse, Miles learns to embrace being Spider-Man in his own way. How does this relate to being an entrepreneur?
Entrepreneurs must stay true to themselves and build something unique—your identity is part of your brand.
What are the 4 Ps of marketing?
Product, Price, Place, Promotion
What is profit?
Money left after expenses are subtracted from revenue.
You only have $50 to start a business. What kind of business could you start?
Lawn care, bracelet making, digital art sales, etc.
What does CEO stand for?
Chief Executive Officer
In Spider-Man: Homecoming, Peter Parker struggles to balance school and being a superhero. What important lesson for entrepreneurs does this show?
Time management and the responsibility that comes with having big goals or roles.
What is a target audience?
A specific group of people a business aims to reach
What is a budget?
A plan for managing money.
Your product got a bad review. What’s the smart way to respond?
Apologize, improve the product, and thank them for the feedback.
What is one benefit of being your own boss?
Flexibility, independence, or making your own decisions.
What leadership qualities does T’Challa/Black Panther show that are important for entrepreneurs?
Vision, humility, willingness to collaborate, and thinking long-term.
What is a slogan or tagline?
A short and memorable phrase that represents a brand.
What is an investor?
Someone who gives money to a business hoping to earn more back.
You want to sell to teens. Where should you advertise?
Social media (TikTok, Instagram, etc.)
What’s the difference between a company’s mission and vision statement?
A mission statement explains what a company does now; a vision statement explains what it wants to achieve in the future.
In Iron Man, what is the name of Tony Stark’s company, and what industry was it originally in before he changed its mission?
Stark Industries — originally a weapons manufacturing company
Give an example of emotional marketing.
Using a commercial to make people feel happy or inspired (e.g. Nike’s “Just Do It”).
What are start-up costs, and why are they important for entrepreneurs to understand?
The money needed to launch a business—important to plan how much money you need to begin.
Your team has different ideas for a business name. What’s a fair way to decide?
Vote, brainstorm together, or combine ideas.