Starting Up
The person who starts a business
What is an entrepreneur?
This type of marketing is free and online
What is social media?
This is used to keep track of how much money is coming and going so you don't overspend
What is a budget?
The goal of a social enterprise
What is improve society/create social change?
A single sheet business plan overview, the lead in to a lean business plan
What is Business Model Canvas?
Costs associated with opening your business
What is start up costs?
List any 3 of the 5 P's
Profit, promotion, price, place, people
Your take home profit, after all expenses have been paid
What is net profit?
This type of business must register with the Canada Revenue Agency and is income tax exempt
What is a charitable organization?
Any 2 of the 3 F's that describe where you can get business funding
What is friends, family, and/or fools?
This should be created before you start your business. It may also help you get funding.
What is a business plan?
This is the customer base you're trying to reach with a marketing plan
What is target market?
Costs associated directly with a product or service
What is direct costs?
Sports clubs, cultural groups, and community organizations may be this type of organization
What is non-profit?
The term SWOT analysis is short for Strengths, Weaknesses, Opportunities, and...
What is threats?
The point at which you've sold enough product/service to fully cover your costs
What is breakeven point?
The plan of action for marketing a product, involving the 5 P's
What is marketing mix?
A document that is compiled to provide a snapshot of a company's finances
What is a balance sheet?
The 3 p's of the Triple Bottom Line
What is profit, people, planet?
A website used to raise funding for a start up, often offering exclusive products/content to investors in lieu of a share
What is crowdfunding sites?
When companies implement new processes, ideas, services, or products with the goal of boosting the bottom line
What is innovation?
The thing about your product/service that makes you stand out from other similar businesses
What is Unique Selling Point (USP)?
An intangible asset related to public perception and opinions of your business
What is goodwill?
The percentage of businesses in Canada that are started to create community change
A) 32% B) 47% C) 66%
What is C) 66%?
This pitch should be deliverable to a stranger in 30-60 seconds, giving a quick overview of your venture
What is elevator pitch?