Business Basics
This early-stage funding often comes from the entrepreneur’s own savings or from family and friends.
What is bootstrapping
Entrepreneurs who try to solve social or environmental problems while earning a profit are called this.
What is a social entrepreneur?
A ___ proprietorship is owned and operated by one individual.
What is sole proprietorship
A strategic management tool used to describe, design, and analyze a business model on one page
What is a business model canvas
Using platforms like Facebook, Twitter, and Instagram to promote and grow a business.
What is social media marketing
Initial funding used to start a business
What is seed capital
This refers to setting clear, measurable goals and developing strategies to achieve long-term success.
What is goal-oriented thinking
This strategic model involves evaluating a company's position by analyzing its strengths, weaknesses, opportunities, and threats.
What is a SWOT analysis
A detailed document that outlines the goals, strategy, market analysis, and financial projections for a business.
What is a business plan?
A strategy focused on creating valuable, relevant content to attract and engage a target audience.
What is content marketing?
A group of people that use a new product before the majority of people
Who are early adopters
This term refers to the ability to quickly adapt to changing market conditions and adjust strategies accordingly.
What is agility
This strategy involves a company trying to outmaneuver competitors by continuously innovating and offering cutting-edge products or services.
What is a innovation strategy
A concise statement that describes a company’s purpose, values, and overall goals.
What is a mission statement?
A reward system designed to retain customers and encourage repeat business.
What is a customer loyalty program
A statement that explains how a product or service solves a consumer problem or issue
What is a value proposition?
This collection of attitudes, behaviors, and beliefs helps people pursue opportunities and overcome setbacks is called
What is the entrepreneurial mindset?
A calculation that helps entrepreneurs determine the amount of revenue needed to cover the business’s expenses.
What is break-even point
This challenge involves keeping customers happy and loyal while attracting new ones.
What is customer satisfaction
A plan designed to promote and sell a product or service, outlining the target audience, tactics, and objectives.
What is a marketing strategy?
The process of gathering and analyzing information about target markets, customers, and competitors.
What is market research
This skill involves effectively managing resources, making strategic decisions, and driving innovation to grow a business.
What is strategic thinking
This is the process of dividing a broad customer base into a business market
What is customer segmentation?
This challenge involves identifying and solving problems that slow down operations or hinder efficiency within a business.
What is problem solving
This concept involves adjusting the marketing message and tactics based on real-time data and customer interactions to improve engagement.
What is agile marketing