Business Processes/Structures
Legal Structures (6)
Sole Proprietorship
Partnership
S Corp
C Corp
Non-Profit
LLC
Protects a Word, symbol, phrase, or design used to represent a product.
Trademark
A survey asking a group of people about their eating habits is an example of which type of data collection?
Primary
People who own a piece of the company/business
Stockholder
4 P's of Marketing
Product, Price, Place, Promotion
Two types of competitors in business
Direct & Indirect
Examples of Variable Costs
Takeaway Boxes
Credit Card Bill
Ingredients
Office Supplies
Which legal structure works best for International Companies
C Corp
Protects Music, Written Works, Stage Work
Copywright
An internet article about fashion trends is an example of which type of data collection?
Secondary
CEO
CFO
COO
Chief Executive Officer
Chief Financial Officer
Chief Operations/Operating Officer
3 Examples of Traditional Marketing Methods
TV
Mail
Newspaper
Billboards
Print Ads
Examples of Digital Marketing
Email
Social Media
Wealthy individuals willing to finance a business for equity.
Angel Investors
Steps in the Decision-Making Process
Identify
Analyze
Choose
Implement
Evaluate
"Secret" recipes fall in this category.
Trade Secret
Strengths
Weaknesses
Opportunities
Threats
Stakeholder examples
Employees
Suppliers
Customers
Selling Goods from one business to another is known as....
B2B
Selling goods direct to customers is known as...
B2C
Natural Disasters are examples of what type of risk?
Environmental
Steps in the Design-Thinking Process
Empathize
Define
Ideate
Prototype
Test
Protects inventions/designs.
Patents
Strengths and Weaknesses are _________.
Opportunities & Threats are ___________________.
Internal
External
Insurance & PTO are examples of what type of compensation?
Benefits
Distribution Channel selling direct to customers
Zero-Level
A distribution channel that goes Manufacturer ----> Wholesaler ----> Customer
Two-Level
Examples of Political Risks
Tariffs
Labor Laws or Policy Changes
Business Life-Cycle
Existence
Survival
Success
Take-Off
Resource Maturity
Pivot/Persist
Exit Plan
IP Stands for...
Intellectual Property
4 Segments of Sales Data
Geographical
Behavioral
Demograpic
Psychographic
Paid by the work you produce
Piece Work
A warehouse that receives and stores massive amounts of goods before sending them to stores (B2B).
Distribution Center
Holds individual items for various sellers, packs and ships B2C.
Fulfillment Center
One-page business planning tool that focuses on fast, actionable planning.
Lean Canvas
Sales Process
Prospecting
Preperation
Approach
Presentation
Handling Objectives
Closing the Sale
Follow-Up
Teachers using a popular song to teach a lesson is an example of
Example of each segment of Sales Data
Demographic - age/gender/job
Behavioral - customers buying habits
Psychographic - customers' views/beliefs
Geographic - where do they live
Types of Compensation (6)
Salary
Piece Work
Commission
Benefits
Annual Incentives
Equity
List 5 startup costs most businesses need to plan for.
Licenses & Permits
Web Design
Startup Inventory
Market Research
Logo Design
Rent, Utilities, wages, supplies, and marketing are examples of?
Operating Costs
Owner uses their own savings to fund a business.
Bootstrapping