Definitions
A person who starts and runs their own business, taking on financial risks in the hope of profit.
Who is an entrepreneur?
The difference between a company’s revenue and expenses.
What is profit?
This simple document helps you track your income and expenses. You do this when cutting back on frivolous spending.
What is a budget?
You want to start selling T-shirts on campus. What’s your first smart from Dr. Cassandra's presentation?
What is choosing a business name?
This visual symbol or design represents your business to the public.
What is a logo?
A short, written document that outlines a company’s goals, strategy, and financial projections.
What is a business plan?
This structure involves two or more people sharing ownership and responsibilities.
What is a partnership?
A government-issued, non-repayable form of funding for businesses. Some of us are issued these through Financial aid.
What is a grant?
You ignore customer feedback because you feel like your product is perfect. Risk or power move?
What is a risk — you might lose customers and miss growth opportunities.
True or False: You should use your personal IG for your business brand to save time.
What is False? (Keep business and personal separate for professionalism.)
The group of people most likely to buy your product or service.
What is a target audience?
The act of promoting and selling products or services
What is marketing?
This type of money must be repaid over time and is often used to start a business.
What is a business loan?
A document that outlines the terms of a purchase, often used for larger items or services.
What is a contract?
This is a one-line phrase that sums up what your brand is all about.
What is a slogan or tagline?
The legal structure that protects your personal assets from business liabilities.
What is an LLC (Limited Liability Company)?
True or False: A sole proprietorship is automatically created when you start selling products without registering a business.
What is True?
You shouldn’t use your personal bank account for your business. What should you open instead?
What is a business bank account?
Steps taken to resolve a conflict or disagreement.
What is conflict resolution?
This platform is great for professional networking, building your resume, and connecting with other entrepreneurs.
What is LinkedIn?
The money a business earns from selling goods or services before expenses are taken out.
What is revenue?
The ability to inspire and guide a team towards a common goal
What is leadership?
Before applying for a loan, applying for credit cards, and making large purchases, you should check this 3-digit number.
What is your credit score?
A method of organizing tasks and prioritizing them based on importance and urgency.
What is time management?
What’s one free app/tool you can use to design flyers, logos, and branding content?
What is Canva?