Domain 1 Leah
This person votes on the management of the company
What is a stockholder?
Product, Price, Place, and Promotion
What is the four Ps of marketing
The stage when one starts to earn revenue
What is monetization
This funding method relies solely on a company's personal savings and operating revenue avoiding external investors
What is bootstrapping
Major fast food company that uses the golden arches as its primary logo
What is Mc Donald's?
The 5 elements of the design thinking process
What is empathize, define, ideate, MVP, and test
This specific group of consumers a business aims to conserve
Target Market
The stage should one develop a value hypothesis
What is Launch
This type of government agency provides loan guarantees, training, and supports entrepreneurs and small firms
What is the small business administration
When creating a personal or business budget, the formula used to determine if you have a surplus or a deficit
What is Income - Expenses or Revenue - Costs?
This legal structure is best for international business even with being double taxed
What is C Corporation
Collect data about consumers and to make important business decisions
What is Market Research
Distribution and fulfillment centers are both ____ distribution channels
What is indirect
Jake owns a garden supply store. His revenue at the end of last month was $12,200. What is Jake's run rate.
What is $146,400
When a company's total revenue exactly equals its total costs, meaning the business is neither making a profit nor incurring a loss. Or, how much product a company needs to sell to gain back their expenses on the product.
What is Break-even point?
This is the set amount of pay in a given period
What is salary
when customers repeatedly choose a specific brand over competitors
What is brand loyalty
In addition to being achievable, a quality standard set by a company must be this way, so there is an objective method to determine if the goal was met
What is measurable
What is free money given small business owners to help with launching and developing of their business.
What are SBA Grants
A startup has a monthly revenue of $20,000 and monthly operating expenses of $50,000. What is____?($50,000 in expenses - $20,000 in revenue= $30,000 in _______).
What is Net Burn Rate?
This is the correct order of the seven business lifestyle stages
What is existence, survival, success, takeoff, maturity, pivot or persist, exit plan
The feature or benefit that makes the product stand out from competitors
What is the unique selling proposition
A minimum viable product is a ____ used to test ease of use and functionality to help determine the users experience and ultimately improve the users experience with the product
What is a prototype
Tina owns a car dealership, she just received a shipment of luxury sports cars. She paid $50,000 for each vehicle and wants to make 25% on each car sale. What is tina's selling price?
What is $62,500
This model has a shorter sales cycle driven by individual decisions and emotion, and is direct but product delivery timing may vary.
What is Business 2 Consumer?