What's the Vocab?
The broad term for applications and websites that allow their users to create and share content within their online communities
What is Social Media?
What are the 4Ps of Marketing?
What are:
Product
Price
Place
Promotion
Plans out a company’s overall strategies and polices.
Who is the Chief Executive Officer (CEO)?
The practice of funding a project or venture by raising many small amounts of money from a large number of people.
What is crowdfunding?
Shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing and financing activities.
What is the Cash Flow Statment?
Is issued by the United States government for the invention of a new product, a new process, or a new method of doing something.
What is a patent?
Explains why a consumer should buy a product or service to meet a need or want. I.e. Why do we care what your product does??
What is Value Proposition?
Manages and handles the daily business operations of the company
Who is the Chief Operating Officer (COO)?
Value of Investment - Cost of Investment = Net Profit (Selling Price) (Production Cost)
2. (Net Profit/ Cost of Investment) X 100 = ???
What is Return on Investment (ROI)?
The cost required for something; the money spent on something
What is Expense?
An economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.
What is demand?
Expenses include utility costs tied to production, the cost of materials to make products, production supplies, packaging, transportation and delivery costs, sales commissions, fees, and hourly wages.
What are Variable Expenses?
Develops the company’s strategy for using technological resources.
Who is the Chief Technology Officer (CTO)?
A nail salon pays $2500 in rent per month and each nail tech gets paid $20 per client visit. Supplies cost $500 per month. At 150 client visits per month, how much does the salon have to mark up each visit percentage wise, to breakeven at the end of the month.
a) 200%
b) 100%
c) 25%
d) 50%
What is 100%?
The point at which its sales exactly cover its expenses.
What is Breakeven Point?
A company’s core financial statements that shows their profit and loss over a period of time.
What is an Income statement?
These include rent, subscriptions, loan payments, and salaries. These costs are easy to budget. Expenses include rent, insurance, equipment payments, salaries, software licensing, property taxes, license fees, and equipment depreciation.
What are Fixed Expenses?
Is responsible for all computer-related information technology within an organization
Who is the Chief Information Officer (CIO)?
You recently started a small affiliate marketing service. Last month, you spent $1,000 on a Pay-Per-Click (PPC) online advertising campaign that resulted in $1,200 in sales. What was last month's ROI for your affiliate marketing service?
a) 20% b) 120% c).2% d) 80%
What is 20%?
This financial statement is often referred to as providing a “snapshot” of a company’s financial situation at a given point in time.
What is the Balance sheet?
The total amount of income generated by the sale of goods and services related to the primary operations of the business.
What is Revenue?
Name the Steps of the Sales Process Actions in Order:
What are:
1. Prospecting
2. Preparation
3. Approach
4. Presentation
5. Handling objections
6. Closing
7. Follow-up
Oversees all business and financial operations
Who is the Chief Financial Officer (CFO)?
Leah is thinking about starting a company with two other shareholders. One is from Jamaica, and the other is from Canada. They want to distribute 112 shares. Leah wants to pay as little taxes as possible. Leah thinks that she should set her company up as an S-Corp. Is this something Leah is able to do? Yes or No and explain why.
What is NO?
Shareholders all must be from the US
Can only distribute 100 shares