ESB 1
A person who takes a risk to start their own business in the hopes of making a profit.
What is Entrepreneur
Prospecting, Prepare, Approach, Presentation, Objection, Closing, Follow Up
Elements of a Sales Process
An executive summary should briefly explain everything in a business plan in how many pages?
Two pages
paid to a salesperson for every sale that he or she completes EX: realtor, car salesman
Commission
This U.S. government agency would be helpful with assistance writing a business plan or giving loans/grants
Small Business Administration
Costs that fluctuate each month.
Variable Cost
DAILY DOUBLE
The 4 market segments
Behavioral
Geographic
Demographic
Psychographic
Which intellectual property law protects a band's songs?
Copyright
anything that has current or future economic value to a business, found on the balance sheet
Assets
Which legal intellectual property law protects brand names, logos, and business names?
Trademark
a detailed document showing a business's objectives and strategies
Business Plan
What is a disadvantage of a S-corporation?
strict to qualify
List the 7 stages of the business life cycle.
Existence, Survival, Success, Take-Off, Maturity, Pivot/Persist, Exit
Ownership interest in a business. Alternative pay.
Equity
The characteristics of making less than $35.5 million in revenue and having fewer than 1,500 employees describes...
A Small Business
visual presentation that helps potential investors learn more about your business.
Pitch Deck
Stages of Business Life Cycle - Focus shifts to revenue, expenses and growth. Cashflow is the major issue.
Survival
Common financial risk that entrepreneurs encounter.
Bankruptcy
Advertising a technical for-profit technical school across the state would best be done with...
Local TV Ads
DAILY DOUBLE
A pricing strategy that pairs several products together and selling them for less money than each would be individually.
Bundle pricing
Test, define, prototype, emphasize, ideate.
Elements of Design Thinking
(Cost + Desired Profit Margin%) + Cost =
Selling Price
Identifies the amount of cash a company is spending every month
Burn Rate
Bootstrapping, Credit Cards, Crowdfunding, Loans, Angel Investors, Venture Capital
Ways of startup funding
Two Examples of Primary and Secondary Data
Primary-focus group, interviews, survey
Secondary-newspaper, online article, tv