Business Concept
What economic principle refers to the limited availability of resources versus unlimited wants?
Scarcity
What tool looks at industry competition and risk?
Porter’s Five Forces
What do you give to investors in return for money?
What's a main benefit of an LLC?
Protects personal assets
What's a customer persona?
Fake profile of ideal customer
What's the term for a business model that connects two or more groups?
Multi sided platform
What's a financial prediction based on current data?
Pro forma projection
What measures how well an investment performs?
ROI (Return on Investment)
What protects logos and brand names?
Trademark
What strategy uses blogs, videos, etc to attract people?
Content marketing
What is the Lean Startup method focused on?
Testing and learning quickly
What does a value proposition explain?
Why people should buy from you
What's the difference between cash flow and profit?
Cash flow = money in/out,
Profit = earnings left
Difference between general and limited partners?
General = manage; Limited = invest only
What's the difference between inbound and outbound marketing?
Inbound = attract; Outbound = reach out
What's the difference between innovation and invention?
Innovation improves , invention creates
What's break-even analysis used for?
Finding when your costs = income
What's bootstrapping?
Starting with your own money
What document is used to start a corporation?
Articles of Incorporation
What is brand positioning?
How people see your brand
What tool helps plan your business model?
Business Model Canvas
What's the difference between mission and vision?
Mission = now, Vision = future
What does a cap table show?
Who owns how much of the company
What's a non-compete clause?
Promise not to compete after leaving
What does CAC stand for?
Cost to get a new customer