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entrepreneurship
the process of starting a business
break - even point
a business's expenses and sales that equal to zero
unit of sale
wholesalers
sell products in larger volumes to the retailer but less than the manufacturers
indirect competitors
a business that sells a different product or service from yours, but fills the same customer need or want.
entrepreneur
someone who starts and runs a business
fixed operating expenses
expenses a business must pay regardless of how many sales are made
revenue
the amount of money brought in by a business before any expenses
working capital
the difference between a company's current assets and liabilities
direct competitors
a business in the market that sells a product or service similar to yours
employability skills
skills that are required to work at a business or start a business
budget
a spending plan based on income and expenses
target market
a specific group of customers in the broader target market who are most likely to buy a product or service.
retailers
ell directly to the customer
bankruptcy
when a person or business doesn't have any more money left to pay for expenses and debts
assets
anything that has a value
liabilities
debts that a person or business owes to someone else
business plan
an overview of your business goals and includes details on how you think you are going to achieve them.
manufacturers
create a product
service
offers services to customers
business pitch
a quick description of your business that you use to explain your business to customers and investors
sole proprietorship
a business owned by one person
start up capital
what are the 4 P's of marketing
price, product, prlce, promotion
corporation
a entity that is separate and distinct from its owners