You're Hired!
Arriving at work on time or even a little early every day.
What is punctuality?
The opening of your presentation designed to immediately grab the audience's attention and make them want to hear more.
What is a hook?
The fundamental economic problem where human wants for goods and services are greater than the available resources.
What is scarcity?
The total amount of money a business receives from selling its products or services.
What is revenue?
All the activities a business does to promote and sell its products, including advertising and social media.
What is marketing?
The ability to work effectively and respectfully with other people to complete a task.
What is teamwork (or collaboration)?
A short, catchy phrase that helps customers remember your business or product, like Nike's "Just Do It."
What is a slogan (or tagline)?
The economic principle that describes the relationship between how much of a product is available and how much people want to buy it.
What is supply and demand?
The costs a business has to pay to operate, such as rent, employee salaries, and utility bills.
What are expenses (or overhead)?
The most important person for any business; the one who buys the goods or services.
Who is the customer (or client)?
The process of identifying a challenge, analyzing options, and finding an effective solution.
What is problem-solving?
The specific group of people that a business aims to sell its products or services to.
What is the target audience (or target market)?
The value of the next-best thing you give up when you make a decision.
What is opportunity cost?
This is the basic formula for calculating a business's profit.
What is $Profit = Revenue - Expenses$?
A formal written document containing the goals of a business, the methods for attaining those goals, and the timeframe for their achievement.
What is a business plan?
The two-way process of clearly sending and receiving information, whether through speaking, writing, or listening.
What is communication?
A visual presentation, often created with software like Google Slides or PowerPoint, that helps explain your business idea.
What is a slide deck (or presentation)?
In this type of economic system, the government owns the means of production and makes all decisions about what to make and what to charge.
What is a command economy?
The one-time expenses needed to launch a new business, such as buying equipment, paying for licenses, and initial inventory.
What are startup costs?
The day-to-day tasks involved in running a business, like managing inventory, scheduling employees, and producing the product.
What are operations?
This broad term describes a set of qualities like honesty, a positive attitude, and a commitment to doing high-quality work.
What is a strong work ethic (or professionalism)?
This is the core of your pitch; it's the statement that clearly explains the benefit you provide and the problem you solve for your customer.
What is a value proposition?
The struggle among businesses for the same customers, which often leads to lower prices and better quality products.
What is competition?
A form of funding where an investor provides money to a new business in exchange for a percentage of ownership, or equity.
What is venture capital (or equity financing)?
This strategic planning tool helps a business identify its internal Strengths and Weaknesses, as well as its external Opportunities and Threats.
What is a SWOT analysis?