The Entrepreneur and Ideas
To assess the long-term prospects of your venture, consider three categories: small profitable ventures, high-growth ventures, and
What are lifestyle ventures?
Easier than primary methods, this type of information collecting is less expensive and time-consuming
What is secondary data?
Considered the bloodline of a business
What is cashflow?
The most important part of a business plan
What is the Executive Summary?
This lasts your lifetime + 50 years
What is a Copyright
An idea that caters to a new market
What is Type A?
A SWOT analysis analyzes these
What are strengths, weaknesses, opportunities, and threats?
Rent and insurance premiums are considered _______ _________ expenses
What are fixed operating?
Describes what your business will look like under ideal conditions if all your goals and objective are met
What is a vision statement?
The most formal of the various forms of business organization
What is a corporation?
This way of doing business incorporates social justice into the business plan
What is social entrepreneurship?
The practice of grouping people by demographic, sociological, or psycographic traits
What is market segmentation?
Net Revenue = $240,0000
Carrying inventory = $60,000
Inventory Turnover=
What is 4?
The person who should write your business plan
Who is YOU?
When a person is only responsible for the amount they have contributed to a venture
What is limited liability?
A person who works for a company but takes time to be innovative in the workplace
What is an intrapreneur?
Schools and hospitals fall into this market
What is Institutional?
The level of operation of the business at which your total costs equal your total revenue
What is break-even point?
Business plans are used for both ___________ and ____________ evaluation
What are internal and external?
Characterized by a one-member-one-vote system
What are cooperatives?
Four avenues discussed to find business ideas
What are previous employment, hobbies, casual observation, and deliberate search?
The five P's of a marketing program
What are person, place, price, product, and promotion?
A businesses gross margin (%) if net sales are $100,000 and cost of goods sold is $70,000
What is 30%?
The part of the business plan in the body of the text that includes the description of your target customer
What is the market analysis?
Allows you to seek input on your intellectual property from others without jeoparadizing the information
What is a non-disclosure agreement?