impressions & attitude
Give 3 reasons why volunteering is important
- develop new skills - gives good reputation
- improves self-image - helps community
- builds connections - others...
What is revenue?
The money you receive when you sell your product or service.
what is a target market? Give an example of it.
they are a smaller group in the market that tend to like similar things.
- fishermen
- farmers
- others...
Name two competitors of the product: cheerios
- mini wheats - honey combs
- frosted flakes - corn pops
- others...
what responsibilities an entrepreneur who owns a restaurant might have? Give 3 examples.
- making schedules - hiring/firing staff
- filling in shifts - talking to angry customers
- others...
What are ways to give a good first impression?
- good posture - dress to impress
- speak clearly - good handshake
- smile - be polite
- be talkative - others...
what are expenses? Give examples
The money you spend on things to keep your business running.
- rent - supplies for products
- employees - others...
Why should you sell products/services for a target market and not just everyone?
different groups of people buy different things. If you try to please everyone, no one gets what they really want.
Why should entrepreneurs write a business plan?
- helps you think through your ideas to map it out/plan it
- helps you make better decisions
- helps you organize your business
what are 3 of Ernie's qualities?
in workbook
How can you make people want to go to your table? 3 ways.
- smile - bright/clean/fun poster
- stand - organized display
- start conversation - show confidence
- others...
What are start-up costs?
Give examples.
the things you spend money on to begin your business is called start-up costs.
business cards, work space, product supplies... others
What's the purpose of a slogan?
Something short, sweet, catchy or even annoying that people see/hear and remember. It advertises your product. People remember it better.
Why should entrepreneurs do research during their business plan?
collect information and study it.
It helps you make good decisions for your business.
- location - population - gender - hobbies - etc.
what is an entrepreneur?
Someone who organizes a business and accepts the risk of it.
What are the 3 bad handshake examples to avoid doing? (name or demonstrate)
- the bear
- the lumberjack
- the wet noodle
what's the equation to know how much money you made?
revenue - expenses = PROFIT
What are the 4 P's of marketing?
product
price
place
promotion
What is competition when it comes to business?
other businesses people can buy same/similar products or services.
What is the goal/explanation of the Biz Camp
To introduce kids to the idea of owning their own business and giving them the knowledge to be able to start one.
Everyone in the group gives me a proper handshake to earn full points!!!
game host decides how much points earned based on handshakes given.
How do you know if your business is profitable?
You have more revenue coming into your business then there is expenses coming out.
Which company's slogan is:
Play. Laugh. Grow
Fisher-price
Why is competition an important part of business?
It motivates people to have the best of everything to sell more then their competitors.
- lowest prices - best deals
- good customer service - convenient areas
What's the name of the teen who created: Kids4community
Kenan Pala