TYPES OF BUSINESSES
This type of business sells directly to customers like you and me.
What is retailing
This famous saying means that problems often lead to new inventions.
What is "Necessity is the mother of invention"?
This analysis tool examines Strengths, Weaknesses, Opportunities, and Threats.
What is SWOT analysis?
This trait means enjoying making your own decisions rather than following others' orders.
What is independence?
Many businesses fail due to this - not researching their market thoroughly
What is poor planning?)
Ford Motor Company is an example of this type of business that creates products from raw materials.
What is manufacuring ?
Small businesses make up this percentage of all U.S. companies.
What is 99.9%
Internal advantages your business has over competitors are called these.
(What are strengths?)
The ability to bounce back from mistakes and setbacks demonstrates this trait.
what is self-confidence
Over this many million women-owned businesses operate in the United States.
What is 9 million
These businesses sell large quantities to other businesses, not to individual customers.
What is wholesaling?
Small businesses have created this many million jobs over the last 20 years.
What is 14.3 million?)
External factors that could cause your business to fail are called these
What are threats?
Continuing to work toward goals even when facing obstacles shows this characteristic.
What is determination/perseverance?
Women-owned businesses generate this amount in economic impact annually
What is $1.4 trillion?
Hair salons, hotels, and tutoring centers are examples of this type of business.
What is service businesses?
The ability to identify unmet needs in the market by observing problems is called this.
What is opportunity recognition?
Before starting a business, you must answer this question about your customers.
Who will buy this product or service?
This trait involves finding innovative solutions to problems and unique marketing strategies.
What is creativity
Colonel Sanders was rejected this many times before someone used his chicken recipe.
What is 1,009 times?
Farms that grow food and companies that extract oil from the earth fall into these two special categories
(What are agricultural and mining/extracting businesses
Companies with fewer than this many employees are considered small businesses.
(What is 500?)
These four types of feasibility must be considered: financial, technical, legal, and this.
What is time feasibility?
Building relationships with other business professionals and attending industry events demonstrates this skill.
What is master networking
Successful entrepreneurs are willing to work more than this standard number of hours per week.
What is 40 hours?