Business Misc.
An idea for a new good or service that appeals to a large number of people.
What is vision?
A business owned exclusively by one person.
What is a sole proprietorship?
A 1-2 page description of a business and why it will be successful.
What is the Executive Summary?
This is the money necessary to start and open a business.
What is Start-up Capital?
Refers to the way a business is financed.
What is Capital Structure?
When an entrepreneur gathers and analyzes information to determine the most effective way to develop, advertise, and deliver a product, what are they performing?
What is market research?
This business type can have unlimited owners who share the risk and rewards.
What is a partnership?
These statements describe the business's purpose and how the business plans to achieve it.
What are the Mission and Vision statements?
This part of the financial plan reports the projected (pro forma) business assets, liabilities, and net worth.
This is an asset pledged by the business to borrow money from a lender. This asset will become the lender's property if the business does not repay the loan.
What is collateral?
a) Start a new business
b) Purchase an existing business
c) Buy a franchise
What are start-up strategies?
"A ___________ is a person too."
What is a corporation?
This part of the business plan is a visual representation showing a business's chain of command.
What is the Organizatinal Chart?
This part of the financial plan shows the company's projected (pro forma) profits.
What is the Pro Forma Income Statement?
These are the property or items of value owned by a business.
What are assets?
This start-up strategy gives an entrepreneur a unique opportunity to build a reputation and establish a customer base on their own terms.
What is Start a New Business?
This type of business protects owners from personal responsibility for its debts or liabilities.
This part of the business plan details what the business will sell and how it will reach its market.
What is the Marketing & Sales section?
The anticipated (pro forma) flow of income and expenses.
What is the Pro Forma Cash Flow Statement?
This is money invested in a business by investors who form a partnership.
What is venture capital?
This number is assigned by the IRS and is used to identify a business for tax purposes.
What is an Employer Identification Number (EID or EIN)?
A license to sell a company's goods or services within a certain territory or location.
What is a franchise?
This is the overview of the industry and the characteristics of the market the business will serve.
What is the Market Analysis section?
This necessary to convince investors to participate in a new business.
What are the financial projections in the financial plan?
Private investors who provide funding for start-up businesses.
Who are Angel Investors?