Business Plan 101
Name a component of the business plan
executive summary, team/organization, market research, sales strategy, marketing plan,
A person who runs their own business within a larger company
intrapreneur
Your bottom line
profit
This intangible concept is exchanged for money
service
a person who recognizes an opportunity and organizes and manages a business
entepreneur
Name a part of the business model canvas
customer segments
customer relationships
value prop
key activities
key partners
key resources
channels
cost structure
revenue streams
a concise communication of strategy, including a business definition and explanation of competitive advantage
mission
Your top line
revenue
Number of IPOs in 2018 in the USA
190
An expense that doesn't change over time
fixed cost
advertising
product
Revenue minus expenses
profit
Average age of the successful entrepreneur in the USA
40's
the beliefs values, and behavioral norms of an organization
culture
I'm a manager of my own business within a larger company
intrapreneur
The group you focus on when advertising
target market/audience
a plan for how an organization or individual intends to beat the competition
strategy
Initially started selling track shoes through a company called Blue Ribbon Sports
Phil Knight
Porter's five forces of competition in an industry
1.) supplier power
2.) barriers to entry
3.) competition among existing firms
4.) threat of substitute products
5.) buyer power
a business that markets a product or serviced developed by another entity, typically in the exact way they intend it to be used.
franchise
What does CAC stand for?
"Our CAC last month was $10, which is incredible considering our product is $95!!!!"
Cost to Acquire Customer
first offering of corporate stock to investors on the open market
IPO
The Inventor of Swoveralls
Kyle