Vocab Uno
Setting up a business in order to gain a profit
What is Entrepreneur
Exposure to danger
What is Risk
Able to adjust to new conditions
What is Adaptable
Thinking ahead towards the future
What is Forward thinking
Someone employed by another to gain wages or a salary.
What is Employee
The process of taking risk, having an idea and creating a business
What is Entrepreneurship
Goals that are Specific, Measurable, attainable, realistic, and Timely
What is Smart Goals
Having a obligation to do something as part of your job
What is Responsible
A want that is not a need
What is Demand
The aspect of market, selling, and providing products in exchange or money
What is Business
Something a business owns
Total amount of money spent each month.
Hint: Month Starting Balance - Month Ending Balance
What is Burn Rate/Burn Rate Formula
A product that is essential for survival
What is Need
Total value of a business
Hint: assets - liabilities
What is Net Worth
An arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests.
What is Partnership
A manager within a company who promotes innovative product development and marketing
What is Intrapreneur
A corporate structure whereby the members of the company cannot be held personally liable for the company's debts or liabilities.
what is LLC (Limited liability company)
The franchisor provides a licensed privilege to the franchisee to do business
What is Franchisee
Corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.
What is S - Corporation
An individual who provides capital to a business or businesses, including startups, usually in exchange for convertible debt or ownership equity.
What is Angle Investor
The entire amount of income before any deductions are made
What is Revenue
A ratio between net income and investment.
What is ROI (Return On Investment)
The name, logo, imagery, colors, typography and language that are used to distinguish it from other businesses
What is Branding
Anyone who has an interest in a company, goal or project.
What is Shareholder
A future economic projection/overlook of a company or person
What is Pro Forma Financial