Getting Started
Two or more individuals that share responcibilites for all business operations
What is a partnership or partners
What is a salary
What is the very very first stage of a business. Like a baby
What is existence, or to exist.
Congratulations on your song, protect it with this
what is a copywrite
True or False A pitch deck should excite, and attract new customers
What is True
The goal for a small business is to generate
what is revenue, cash flow, sales or profits
I own one share of stock. What am I?
What is a stockholder
what is the thing you build to show how your product looks, works and feels
what is a prototype
Great bbq sauce uncle Dave whats in it? Cant tell you, its protected with this
What is a trade secret.
True or False The financial plan determines if there is a large enough customer pool to move forward
What is False, that would be the marketing plan.
Entrepreneurs are willing to take these in order to grow their business.
What are risks, chances
Hey big money, sales people make the most money but its straight what
What is comission. typically a percentage of the sale price
You cant copy my invention, I protected it with this lega document
What is a Patent
Last night I developed a logo for a friend. I should protect it with
What is a trademark
True or False - An Indirect competitor sells similar products or services
What is False. Similar means same. A direct competitor sells similar products or services
This officer oversees total business operations
What is the Chief Operations Officer COO
This person is in charge of all financial matters of the businese.
What is the CFO or Chief financial officer
What is the last thing to do with your product or service before going to market
What is test it. Show it to your potential customers. get feed back
The name or title of the creator of the company
What is Fouder or Owner
Most part time and first time jobs pay by the
What is the hour or hourly
Name 3 of the 6 legal structures used when starting a business
S corp - C corp - LLC- Non Profit - Partnership - Sole proprietorship
You really want the job, but only because they are offering this, in addition to a lower pay.
What is equity, stock or part of the ownership
Name ANY of the 5 factors used to test the viability of your product or service idea. An xtra $100 for each addtional
relationships, market size, cash management, passion, management skills
Name 2 of the SWOT analytic categories.
What are Strength, Weakness, Opportunities, Threats
Name one example of an evironmental risk for a business
What is a natural disaster, poor food supplies, inflation