Start up fundamentals
A person who assumes the financial risk of starting and operating a business
What is a entrepreneur?
This section outlines the plan's objectives and key strategies and is typically written last.
What is the Executive Summary?
The difference between money coming in and money going out of the business.
What is cash flow?
This player is the all-time leading scorer in NBA history.
Lebron James
The common nickname for the NCAA Men's Division I Basketball Tournament, known for its unpredictability.
What is March Madness?
This type of cost changes based on the amount of product produced, such as raw materials.
What are variable costs?
The component of the business plan that describes the education, work history, and experience of the founder(s).
What is the management team section?
A financial statement that summarizes assets, liabilities, and owner's equity.
What is the Balance Sheet?
The Boston Celtics and this team have the most NBA championships in history.
What are the Los Angeles Lakers?
This state is home to the legendary rivalry between Duke University and the University of North Carolina (UNC).
What is North Carolina?
This is the point where a business's revenue exactly covers its total costs.
What is the break-even point?
This section identifies the demographic and psychographic characteristics of the potential customer base.
What is the Target Market section?
Funding obtained by borrowing money, which must be repaid, usually with interest.
What is debt financing?
Before becoming a team owner, this legendary player was known for wearing number 23 and 45.
Who is Michael Jordan?
The award given annually to the most outstanding men's college basketball player in the United States.
What is the Wooden Award (or Naismith Award)?
The specific assets, resources, and processes that set a business apart and allow it to gain an advantage.
What is a core competency?
The component detailing how a business will be legally protected from unauthorized use by competitors.
What is the Intellectual Property (IP) section?
The calculation showing the gross profit earned as a percentage of the selling price.
What is gross margin percentage?
This player famously led the 1992 U.S. Olympic team known as the "Dream Team."
Who is Magic Johnson?
A tournament is needed to determine the four teams that compete in the final round of the NCAA Tournament.
What is the Final Four?
The projected amount of money a business expects to earn over a period, often shown monthly or annually.
What is revenue forecast (or sales forecast)?
A statement describing what a company is going to do and why it is going to do it.
What is a mission statement?
Money set aside in the budget for unexpected costs or emergencies.
What is a contingency fund (or reserve)?
This famous team franchise was originally located in Seattle before moving to Oklahoma City.
What are the SuperSonics (now Thunder)?
The school located in Los Angeles that has won the most NCAA Men's Basketball Championships (11 titles).
What is UCLA?