Backwards Review
One of the greatest risks of being an entrepreneur.
What is "Financial Instability?"
Prices that target customers looking to save as much money as possible.
What is "Economy Pricing?"
Two types of sales channels that sell primarily to other businesses.
What are "B2B" and "Wholesale?"
This stage of the Business Life Cycle is when the business introduces itself to the market & catches attention.
What is "Existence?"
Multi-page document describing & detailing a business.
What is a "Business Plan?"
One of the greatest benefits of being an entrepreneur.
What is "Schedule Control?"
High-quality products marketed to high-income individuals.
What is "Premium Pricing?"
One of the three ONLINE marketing platforms.
What is "Social Media?" or What are "Google Ads?" or What is "E-mail?"
This stage of the Business Life Cycle is when focus shifts to revenue, expenses, & growth.
What is "Survival of the Fittest?"
Slide presentation created for potential investors that summarizes the key items for a business.
What is a "Pitch Deck?"
Highest ranking employee in the company; reports to the board of directors.
What is the "CEO?"
Pairing several products or services together & selling them for less money than each would be individually.
What is "Bundle Pricing?"
True or False? Two segments in a Marketing Plan are: psychographic and demographic.
What is "True?"
This stage of the Business Life Cycle is when the company is stable and profitable.
What is "Success?"
A single-page business summary template.
What is a "Lean Canvas?"
The person who oversees the day-to-day administrative functions of a business; second in command.
What is the "COO?"
Setting high prices when a product is introduced & then gradually lowering the price.
What is "Price Skimming?"
Step 1 of the Sales Process.
What is "Prospecting?"
This stage of the Business Life Cycle is when expansion strategies are implemented, & investment is balanced with potential.
What is "Take-Off?"
The amount of slides in a pitch deck.
What is "10 to 20?"
True or False? "Salary" is getting paid a fixed amount, no matter how many hours you work.
What is "True?"
Setting prices low until after a reliable customer base is established, then raising prices.
What is "Market Penetration?"
The primary characteristic of all physical and digital sales channels.
What is "Closing Sales?"
This stage of the Business Life Cycle is when the business is separate from the owner with responsibilities delegated to staff.
What is "Maturity?
Two documents that summarize the business plan of a company.
What are "Lean Canvas" and "Pitch Deck?"