Entrepreneurs
What is an entrepreneur?
Someone who takes a risk in starting a business to earn a profit.
What is financing?
loans from banks and financial institutions.
What is the reason for business failure?
Not having enough start-up money?
What is the "game plan" in a business plan?
Alternative plans for production, marketing, staffing, and financing.
What is venture capital?
The money provided by large investors.
What two men were the co-founders of the Apple Computer Company?
Steve Jobs and Steve Wozniak
What is productivity?
Producing large volumes of goods and services for the economy.
What is a competitive advantage?
Attention to unique customer needs.
What is a financial plan?
What is the "game plan" in a business plan?
What is a small business?
An independent business with fewer than 500 employees.
What are some personal characteristics of successful entrepreneurs?
persistent and competitive
What is American private enterprise?
An economy that promotes innovation and new business development.
What is the Description of Competition?
The portion of the business plan forms SWOT.
What is long-term financing?
Money is needed for the important resources that will last for many years.
What are foundational skills?
math, communication, and decision-making skills that entrepreneurs use regularly in setting up and running a business
What is an entrepreneurship opportunity?
Improved design, more efficient procedures, and greater attention to quality.
What is a home-based business?
Half of all small businesses.
What is a review?
The final step before a business plan is completed.
What are the factors of Production?
the resources that businesses use to produce the goods and services that people want
What is a risk-taker?
Risks his or her time, effort, business reputation, and funds on the entrepreneurial venture.
What is the Service Corps of Retired Executives?
Retired local business people who volunteer their service to counsel and mentor new business owners.
What are the 6 elements of a business plan?
Description of the business Description of Competition Customer Analysis Operations Plan Marketing Plan Financial Plans
What is an analysis of a product before it's marketed?
SWOT Strength, weaknesses, opportunities, threats.