Entrepreneur in the Economy
Someone that starts businesses.
What is an entrepreneur?
Honest, Charismatic, Creative and Driven are some of the characteristics of what profession?
What is an Entrepreneur?
This is a type of model that explains what your business will look like?
What is a business model?
This is another way of explaining the amount of products available, and the number of customers who wish to purchase them.
What is supply and demand?
When a group of people or a "crowd" funds a project?
What is crowdfunding?
Someone that comes up with ideas within a business.
What is an intrapraneur?
This is an "R" word that entails the dangers of starting a business. This includes losing money and starting a failing business.
What is "risk"?
When looking at starting a business, you should look at what customers w______ and n________ in order to determine if your business really has any potential.
What is wants and needs?
What is cost and price?
An "A" word that explains the act of promoting a product or your business to a certain target audience.
What is advertising?
The direction the current trend of entrepreneurship is currently going in society.
What is going up (rising)?
True or False: It can be a smart decision to become an entrepreneur by attending college?
What is true?
One is to invent a new idea, the other is to help make an idea better.
What innovation and invention?
One word explains that a price can't change (interest on a loan, cost of purchasing something from a supplier, etc.) and the other explains when it can change at any time (typically based on market fluctuation)
What is fixed and variable?
A "C" word that explains when different businesses are selling a similar product to a similar target audience?
What is competition?
SBA is an acronym for what helpful entity that helps you get a start in entrepreneurship.
What is Small Business Administration?
A type of contest where you give a quick rundown of your business to potential investors who then decide whether or not to invest in your business.
What is a pitch contest?
This is a way to start your business by doing the bare minimum in order to eliminate risk. This includes unnecessary spending and only releasing a product(s) that would be needed to get your business started.
What is a lean start up?
This term explains a situation where you neither gain or lose money. You just _________.
What is "break-even"?
This "L" word explains the importance of setting up a business in the right area?
What is location?
This is a process that often treats you as a "baby" when first starting up a business. They make sure that every decision you make is profitable and sensible, and that your business is successful each step of the way.
What is an incubator?
This is a document (typically around 40 pages long) that gives a detailed summary of your business. This includes your plans for advertising, funding needed, location, and other various details that are needed in order to receive funding from a bank or investor.
What is a Business Plan?
This is a way to start your business by "going big". You put everything you can into your idea for a short period of time to see if it will work. If it doesn't, then you immediately pull back and either start over or end the business completely.
What is failing fast?
True or false: Entrepreneurship is an essential part of society and is often backed by the government?
What is true?
The 4 "P's" of marketing?
What is product, price, promotion, place?