Acronyms/ Key Words
B2B & B2C
What is Business to Business and Business to Customer?
According to a G E M study, one out of every six American adults is engaged actively.
What is starting a business or is the owner/manager of a business?
People that assemble and then integrate all the resources needed to transform an invention or an idea into a viable business.
What is an Entrepreneur?
Name two of the four forms of Feasibility Analysis.
What are
•Product/Service Feasibility
•Industry/Target Market Feasibility
•Organizational Feasibility
•Financial Feasibility
A company's plan or recipe for how it creates, delivers, and captures value for its stakeholders.
What is a business model?
CAGR
List two of the four Rules required for a brainstorming session.
What are,
▪No criticism
▪Freewheeling is encouraged
▪The session should move quickly
Leap-frogging is encouraged
A favorable set of circumstances that creates a need for a new product, service, or business.
What is an opportunity?
Name two of the four characteristics of Successful Entrepreneurs.
What are:
Passion for the Business
Product/Customer Focus
Tenacity Despite Failure
Execution Intelligence
A strategy where a durable, core product is sold at a low price—often at a loss—to attract customers and create a market for a high-margin, complementary consumable product.
What is the Razor and Blades Business Model?
Profitable Customers
What is Target Market?
Name two of the three primary reasons that people become entrepreneurs and start their own firms.
What are
–Desire to be their own boss
–Desire to pursue their own ideas
–Pursue financial rewards
The process of generating several ideas about a specific topic.
What is Brainstorming?
List three of the five common myths about Entrepreneurs.
What are,
Entrepreneurs are born not made
Entrepreneurs are gamblers
Entrepreneurs are all motivated by money
Entrepreneurs are young and energetic
Entrepreneurs Love the spotlight
Can take on various forms, such as technical know-how, an efficient process, a trusting relationship with customers, expertise in product design, etc.
Basis of Differentiation
What is competitive advantage?
List three of the five common myths about Entrepreneurs.
What are,
Entrepreneurs are born not made
Entrepreneurs are gamblers
Entrepreneurs are all motivated by money
Entrepreneurs are young and energetic
Entrepreneurs Love the spotlight
Research that is collected by the person or persons completing the analysis.
What is Primary research?
Is a group of firms producing a similar product or service.
What is an Industry?
A strategy that creates a new market or radically changes an existing one by offering more affordable, accessible, or convenient solutions to underserved customer needs, often leveraging technology to displace established competitors.
What is a Disruptive Business Models?
Revenue Streams
What are the ways in which it makes money?
Name two of the four characteristics of Successful Entrepreneurs.
What are:
Passion for the Business
Product/Customer Focus
Tenacity Despite Failure
Execution Intelligence
A detective or an investigator that scrounges around for information or clues wherever they can be found.
What is a gumshoe?
Bond sold by a company, government, or entity in another country and issued in the currency of the country in which it is being sold.
What is a Foreign Bond?
Describes why a business exists and what its business model is supposed to accomplish.
What is a business or mission statement?