Intro to Entrepreneurship 1
Founded the world’s largest software business, Microsoft, when he was 23 years old.
Who is Bill Gates?
A business that has fewer than 500 employees—that could be anywhere from 1–500.
What is a small business?
Money that is spent on equipment, resources, or supplies
What is a business expense?
Gross profit minus all the expenses related to the business
What is net profit?
Someone who owns, operates, and manages his or her own business
What is an entrepreneur?
A great way to learn valuable life skills. For example, it can teach you work ethic, how to stick to a task until it’s completed, the importance of showing up on time, and communication skills (in writing and face-to-face).
What is work?
The founder of Mrs. Fields Cookies, started her first company at the age of 20.
Who is Debbie Fields?
When a business has more expenses than income from sales for a specific time period on their P&L statement
What is a loss?
Giving money to a nonprofit organization
What is charitable giving?
The positive difference between the total revenue from a business or investment minus total expenses
What is a profit?
Work ethic, personal management and leadership
What are important characteristics of an entrepreneur?
Presenting yourself well in the way you dress, communicate, and represent your business.
What is professionalism?
The hallmark of people who live successful lives and who operate business with soul.
What is being generous?
The United States operates within this type of economic system
What is mixed?
The effective use of all the resources you have available to your business
What is resource management?
Not punching the clock for a paycheck
What is a benefit of working for yourself?
Relates to setting short-term and long-term goals for yourself and your business. Once you set your goals, it is up to you to achieve those goals by coming up with a plan to reach them.
What is personal management?
What are operating expenses?
In this world nothing can be said to be certain, except
What are death and taxes?
A system of economics based on the private ownership of business and the products (goods and services) made and sold
What is capitalism?
Someone who does contract work for different companies to complete projects or assignments
What is a freelancer?
Lawn mowing, babysitting, dog sitting, house sitting.
What are jobs a high school entrepreneur could start?
Money that’s invested in a new business that does not have enough money to get started on its own.
What is venture capital?
Two aspects of your business records that are vital to manage
What are accounting and document management?
Business income you save for emergencies and future expenses
What are retained earnings?