Brainstorming
Name one potential company idea
Answers may vary
List 1 reason it is important to read the terms and conditions.
Answers may vary
Potential answers: age limits can restrict people, extra costs, making you have everything (lawyers, permits, shipping times)
True or False: You should research before you figure out your final cost of your product.
True!
True or False: It is essential to put a large amount of money into your company to start.
False! Do not put down money unless you have some to spare.
List 3 things that you should remember about your target audience.
Answers may vary:
Age, Gender, Employment, Hobbies
List the 2 categories of things that you can sell
Products & Services
True or False: It is not necessary to have a partner in business.
True! You can have a partner or not and your company still has a chance at success.
Assess your product cost, other similar product pricing, and identify your final price are all part of the...
3 Magical steps
True or False: The amount of money that you have, should influence how much money you invest.
True! If you don’t have a lot of money then you shouldn’t put everything into your business. Be prepared for some rainy days.
What fits the definition of a concise, practiced overview of your business that is simple and memorable.
Elevator pitch
True or False: you should get feedback early in the brainstorming process.
False! Start to think before you get constructive criticism.
List 3 character traits that Steve Jobs had to become successful.
Answers may vary
Potential answers: determined, dedicated, perseverant, innovative
True or False: Local businesses usually sell their product for higher prices.
True! Most big companies make their product in bulk and can charge less.
List 2 of the 3 questions to ask yourself before you invest in your company.
1. How much money do you have?
2. How much money do you want to invest (risk)?
3. How long do you want to keep your business alive?
List 3 out of the 7 things on how to make a video ad.
Answers may vary:
Empathize and solve their problem, evoke emotion, Speak to your niche, avoid ‘waffle’, use a clear call to action, Benefits not features, make it feel native
List 1 out of the “4 Steps to Brainstorming a Great New Business Idea”
1. Start your business brainstorming by getting your creativity flowing.
2. Next, think about businesses you admire, use, and rely on in your daily life.
3. Think about issues you are facing in your own life.
4. Using all the information you’ve gathered, you should have generated dozens of possible business ideas.
List 2 out of the 7 aspects of business.
Market, Management, Customers & Clients, Start up Capital, Facilities/Location, Permits & Licenses, Ownership type.
What is the difference between sales and profit?
Sales: how much money you make from your sales
Profit: how much money you make taking away how much you spent on costs
Which of the 3 magical steps connects most to investing? (Assess your product cost, other similar product pricing, and identify your final price)
Assess your product cost
List 3 out of the 5 things that you need to keep in mind when designing a flyer.
Answers may very:
Proximity, white space, alignment, contrast, repetition