Five ps of Entrepreneurship
Entrepreneurs need a support system of people. Professional connections and business associations can offer helpful resources
people.
what are
Basic math skills
reading and writing
effective speaking and listening
Knowledge of current teachonolgy
Basic skills
What is the size standard for a wholesale trade
100 employees
_______ is the gathering and analyzing of info ab a business
Market research
How does the US Small Business Administration define “entrepreneur”?
A person who organizes and manages a business undertaking assuming the risk for the sake of profit
The reason why they do it . They set goals and work hard to achieve them.
purpose
Skills that help a person perform in a workspace or gain success in a career
Transferable skills
What is the size standard for a manufacturing
500 employess
______ is the movement of money into and out of a business
Cash flow
ID 3 resources an entrepreneur can use for business advice.
Mentors, small business administration service corps of retired executives
The cental focus and what they make off the business
Profit
another name for Transferable skills
Foundational skills
What is the size standard for a Publishing industries
500 employees
------ is a sentence describing the purpose of the business
Mission statement
List 2 reasons that many new businesses fail.
Lack of money poor management skills
what entrepreneurs belive in
passion
The skill of settings goals and deciding how to accomplish goals.
planning skills
What is the size standard for a Travel agencies
$20.5 mil
______ is a written statement of goals and objectives
Business plan
Name 2 sources of equity financing.
Venture capital angle investors
they keep going no matter what happens
Presistence
The skill to find a way and to make a hard decision.
Problem solving and Decision Making skills
How is a small business defined
by the amount of employees over 12 months or the average annual receipts over 3 years
are assets pledged that will be claimed by the lender
Collateral
List 3 financial statements that should be included in the financial plans section of a business plan.
A pro forma balance sheets
A pro forma income statement
A pro forma cash flow statement