Entrepreneurship 1
What is the formula for Net Worth?
Net Worth = Assets - Liabilities
This organization can provide up to $50,000 for working capital, inventory, supplies, furniture, fixtures, machinery and equipment.
SBA Microloan or Small Business Administration Microloans
Proforma means..............?
Projections
Primarily investment firms, tend to only offer funding to high-growth companies, because of the significant risk involved.
Venture Capital
Give me 3 examples of startup costs?
Equipment and supplies, furniture and fixtures, vehicles, legal and accounting fees, and licensing fees.
Loans that are NOT guaranteed with collateral. Usually short term loans less than 1 year. Must have Good Credit.
Unsecured Loans
What type of lender typically require less paperwork than traditional loans and often don’t require collateral to secure a loan. The trade-off is that your loan may come with higher interest rates and more fees.
Online Lenders
2 types of Commercial Loans
Secured Loans and Unsecured Loans
Give me 3 types of items that are assets?
Stocks, Bonds, Cash, Properties, Gold Coins, Paintings, Cars
This form of startup funding doesn’t involve monthly payments; however, it will likely require you to give up partial ownership of your company.
Angel Investor
Give me 3 examples of a retirement account that business can provide to its employees?
401k
IRA
Roth IRA
Pension
The ratio measures how much money a company can safely borrow over time.
Debt to Equity Ratio
Politicians use direct marketing and/or personal selling that uses phone calls to call potential customers to draw attention to their products and services.
Telemarketing
TV Commercial, Direct Marketing, Radio, Grassroots, Influencer, Viral Marketing, Guerilla Marketing, Print Advertising
Direct marketing that targets small groups of people with the hopes that they will spread the message to a larger audience. Can be cost effective.
Grassroot Marketing
Low-cost promotion strategy that uses the element of surprise
Guerilla Marketing
What does PESO stand for?
Paid, Earned, Shared and Owned Media
There are two types of financing available for your business? Which is the best if you have
Debt and Equity Capital
Agreement by a bank to lend up to a certain amount of money whenever the borrower needs it. Banks will charge a fee and they will charge interest on the money borrowed.
Line of Credit
Any media created by a business. This includes company websites, company blogs, social media profiles, webinars, video content, podcasts, and email platforms and automation.
Allow customers to charge merchandise and services and pay for them later.
Account Receivable Financing
Identify 5 out of the 9 checklist steps to starting you business?
Know yourself, Know the law, Build an emergency fund, Reduce your debt, Get your finances up, Get the right insurance, Setup the correct retirement plan, Financial Advisor and Setup a contingency plan
Provide me 4 types of startup funding?
Microloans
SBA
Friends/Family
Angel Investors
Bank Loans
Online Lenders
Bootstrappers
Venture Capital
Give me 4 out of 5 Reasons a bank may not lend money
The business is a startup, Lack a business plan, No Experience, No own funding involved, Lack of confidence in the borrower
Identify the 5 steps to funding your startup?
Identify how much money you need
Write a business plan
Gather your documents
Decide on which funding is correct for you
Make sure you pay the lender back