ESB 1
A person who takes a risk to start their own business in the hopes of making a profit.
What is Entrepreneur
Prospecting, Prepare, Approach, Presentation, Objection, Closing, Follow Up
Elements of a Sales Process
An executive summary should briefly explain everything in a business plan in how many pages?
Two pages
paid to a salesperson for every sale that he or she completes EX: realtor, car salesman
Commission
This U.S. government agency would be helpful with assistance writing a business plan or giving loans/grants
Small Business Administration
a one-page business plan layout for a business idea.
Lean Canvas
DAILY DOUBLE
The 4 market segments
Behavioral
Geographic
Demographic
Psychographic
Which intellectual property law protects a band's songs?
Copyright
anything that has current or future economic value to a business, found on the balance sheet
Assets
Which legal intellectual property law protects brand names, logos, and business names?
Trademark
a detailed document showing a business's objectives and strategies
Business Plan
What is a disadvantage of a S-corporation?
strict to qualify
List the 7 stages of the business life cycle.
Existence, Survival, Success, Take-Off, Maturity, Pivot/Persist, Exit
Ownership interest in a business
Equity
This is the simplest business entity
Sole Proprietorship
visual presentation that helps potential investors learn more about your business.
Pitch Deck
group of customers in which a business aims its marketing efforts
Target Market
Common financial risk that entrepreneurs encounter.
Bankruptcy
What you owe others. Found on a balance sheet.
Liabilities
DAILY DOUBLE
A projection of the amount of money a company will make in a year.
Run Rate
Test, define, prototype, emphasize, ideate.
Elements of Design Thinking
(Cost + Desired Profit Margin%) + Cost =
Selling Price
Identifies the amount of cash a company is spending every month
Burn Rate
Bootstrapping, Credit Cards, Crowdfunding, Loans, Angel Investors, Venture Capital
Ways of startup funding
Two Examples of Primary and Secondary Data
Primary-focus group, interviews, survey
Secondary-newspaper, online article, tv