Entrepreneurship Basics
This refers to the plan that outlines how a business intends to make money and achieve its goals.
Business plan.
This is the money a business makes after it pays for its expenses.
Profit.
This is the money a business uses to get started, often coming from the owner’s savings or family and friends.
Seed funding.
This is a type of marketing where a business partners with individuals who have large social media followings to promote its products.
Influencer marketing.
This man is the founder of Amazon, starting with an online bookstore and growing it into a global company.
Jeff Bezos
What does M&A stand for?
Mergers and acquisitions.
This is the money you need to start or grow a business.
Funding or capital.
This is the practice of raising small amounts of money from a large number of people, usually through online platforms
Crowdfunding.
This term refers to the group of people who are most likely to buy your product based on their age, interests, and income.
Target market.
This entrepreneur founded Tesla and SpaceX, aiming to change the future of electric cars and space travel.
Elon Musk.
A scenario in game theory in which no player in a non-cooperative game stand to gain anything by changing their strategy.
Nash equilibrium.
The movement of money in and out of your business.
Cash flow.
This is the process of determining the worth or value of a business, which is important for attracting investors and making investment decisions.
Valuation
An important marketing metric that tracks the percentage of people who complete an established goal, such as sign up for a newsletter or select check out.
Conversion rate.
This man founded Apple and became famous for creating the iPhone.
Steve Jobs
This term refers to the process of measuring how well a business is doing compared to its competitors and the market.
Competitive analysis.
What is the process when a private company sells its shares to the public for the first time on a stock exchange.
Initial Public Offering (IPO).
The process of founding and running a company using only personal finances or operating revenue
Bootstrapping
This term refers to the steps a business takes to keep its current customers happy so they continue buying from them.
Customer retention.
This man created Facebook, which later became Meta, connecting people around the world online.
Mark Zuckerberg.
What is B2B and B2C?
Business to business and business to consumer.
This refers to the rate at which your company spends money, typically expressed as dollars per month
Burn rate.
This type of investment comes from individuals who provide capital to startups in exchange for ownership equity or debt. (At a very early stage).
Angel investing.
How you differentiate yourself from your competitors and how consumers identify and connect with your brand.
Brand positioning
This man founded Microsoft.
Bill Gates.