ESB Concepts
Domain 1
Domain 1
Set amount of pay for hours worked
What is Hourly?
This proposition states why a customer should do business with a company.
What is Value Proposition?
Product market fit is making a product or __________ that many people want.
What is Service?
A financial report that shows a company assets, liabilities, and equity for a specific period is...
What is a Balance Sheet?
This legal structure is a business with pass through taxation where owners pay taxs on the company’s profit and losses through their personal taxes. Ideal for single owner seeking low risk.
What is Limited Liability Company (LLC)?
Oversees company finances
What is CFO
A group of customers that will buy a product or service is known as…
What is Target Market?
What two aspects of a product do Minimum Viable Products (MVP) test?
What is Ease-of-use and Functionality?
The owner’s remaining value after all liabilities have been deducted...
What is Equity?
A one-page document covering problems, solutions, and key details of a business plan is know as what?
What is a Lean Canvas?
Business Life Cycle
This stage is when a business owner decides whether to continue growing the business or to sell the business.
What is Take-Off Stage?
First-hand accounts, interviews and surveys is what type of data?
What is Primary Data?
Product & Market Fit
In what stage should one develop a value hypothesis?
What is the LAUCH stage?
DAILY DOUBLE
Also known as a profit and loss statement, shows the total revenue and expenses for a specific period.
What is an Income Statement?
DAILY DOUBLE
This section of a business plan briefly explains everything in the business plan.
What is Executive Summary?
This legal structure is best for international business even with being doubled-taxed.
What is C-Corp?
A business that sells the same or similar products or services is known as…
What is Direct Competition?
In which stage do sales gain momentum?
What is Traction?
This formula is used to calculate Net Income
What is
Subtracting the cost of goods and expenses from income?
(COG and Expense - Income)
What are the three (3) Key elements every business should have?
What is
1. A business plan
2. A pitch deck and
3. A lean canvas
In order, what are the five steps of the Design Thinking Process?
What is
1.Empathize
2.Define
3.Ideate
4.Prototype
5.Test
What are the 4 P’s of Marketing?
What is
1. Product
2. Price
3. Place
4. Promotion?
DAILY DOUBLE
What are the six (6) phases of the product/market fit?
What is
1. Idea Stage
2. Prototype Stage
3. Launch
4. Traction Stage
5. Monetization Stage
6. Growth Stage
Subtracting the cost of investment from the value of investment calculates this…
What is Net Profit?
This legal structure is a shared financial backing.
What is a Partnership?