Entrepreneur Basics
A person who starts and runs their own business
What is a Entrepreneur?
This person is the founder of Microsoft
Who is Bill Gates?
This term is used for a product or service a business offers to customers.
What is a good or a service
A symbol or design that represents a company or product.
What is a logo?
If your product isn’t selling well, you could try changing this
What is marketing strategy (or price, product design)?
This written document outlines the goals of a business and how it plans to achieve them.
What is a business plan?
This person started the company that became known for iPhones and iPads
Who is Steve Jobs (Apple)?
The money a business makes after all expenses are paid
What is profit?
This term describes the specific group of people a business wants to sell its product to.
What is a “target audience” ?
If you run out of money for your business, you might seek help from these people or institutions.
What are investors (or take out a loan)?
This term refers to the money needed to start and run a business.
What is Capital?
This entrepreneur is famous for creating Tesla and SpaceX
Who is Elon Musk?
Customers who keep coming back to your business
Who are Repeat customers or loyal clients
This is the process of promoting your product to potential customers.
What is advertising?
If customers don’t like your product, this is what you should collect to improve it.
What is feedback?
A new business in its early stages of development.
What is a startup?
This person founded Amazon
Who is Jeff Bezos?
The price people are willing to pay for a product
What is Market price?
This is the process of creating a unique image or identity for your business.
What is Branding?
If your business is losing money, you should review these two areas to find where you can improve.
What is Review expenses and revenue?
A presentation to potential investors to convince them to invest in your business.
What is an elevator pitch ?
This entrepreneur started their own fashion and beauty business, Fenty, while also being a famous musician.
Who is Rihanna?
This business term describes when two companies work together to create something.
What is a partnership or collaboration?
This platform is most popular for businesses to post pictures of their products
What is Instagram or Website?
If a competitor sells a similar product for less, you might add this to make your product stand out.
What is value (or improve quality, customer service)?