Introduction to Entrepreneurship
What is a Entrepreneur?
Someone who owns, operates, and manages his or her own business
You should always keep your business bank account separate from your personal bank account.
TRUE
An item you sell
Product
Every business should have a ________
Business Plan
Where is the first Starbucks located?
Pike Place
How is a Social Entrepreneur different from an Entrepreneur?
Aside from money, what other ways do social entrepreneurs give back?
Time
What is word-of-mouth marketing?
When customers tell others about your business
This is a short one-sentence statement that answers the question of why you are doing what you are doing. It describes the purpose of your business.
Mission Statement
What is the #2 Search Engine in the World? (Bing, YouTube, or Google)
YouTube
Someone who works for someone else is...
Employee
The __________ is the amount of money left after a product or service is sold and the costs of goods and other expenses are subtracted.
Profit
What is one of the most powerful forms of word-of-mouth marketing?
Sharing social media posts
This helps you with accounting—or keeping track of money stuff.
An accounting system
How many monthly users (millions) does Snapchat have? 300, 400, or 500
300 million
Having a belief in work as a moral good that is reflected in a desire to work hard.
Work Ethic
The study of how goods and services are made, distributed, bought, and sold
Economics
Activities that increase awareness and sales of a product or service
Promotion
Strong goals must have what three qualities?
Specific, measurable, and have a time limit
Who's the most popular Youtuber in 2020?
PewDiePie
A small business is one with fewer than ___ employees.
500
a document subtracting all of the expenses from all the sources of income for a given period of time.
P&L Statement
Your primary group of customers to whom you direct your marketing efforts
Target Market
________ allows you to build a loyal customer base, establish your business name, and develop a good reputation
Starting small
Which popular video rental service turned down Netflix's offer to collaborate?
Blockbuster