Starting a Business
What is an entrepreneur?
Someone who is willing to take financial risks to start a business.
What is working capital?
The financial health of a business, which is found by subtracting assets from liabilities.
What is revenue?
Total amount of money a business makes in a period of time.
What is an indirect competitor?
Someone who sells different products to the same target market. Ex: Six Flags and Stars and Stripes
What is start up capital?
Finances required by a new business before it can become an actual business.
What are retailers?
Businesses that sell products in a small quantity.
What is bankruptcy?
When you have no money left.
What is direct competitor?
Someone who sells similar products to similar target market. Ex: Kroger and Publix
What is a business pitch?
A presentation for a commercial activity.
What are wholesalers?
Businesses that sell products in a large quantity.
What is a budget?
A financial plan of administration for a period of time based on estimates of expenses during the time period.
What are assets?
Property of a person, association, corporation, or estate.
What are fixed operating expenses?
Fixed expenses that have to be paid in order to start a business.
A group of people working together to do business.
What are the 4 P's of marketing?
Product, Price, Place, Promotion
What are liabilities?
Disadvantages of a business.