Business Basics
This is a person who starts a business
What is an entrepreneur?
Founder of Amazon
Who is Jeff Bezos?
This term describes the money a business earns
What is revenue?
What is A picture or design used to represent a business?
If you sell lemonade for $1 and spend 25¢ on each cup, how much profit do you make per cup?
What is 75¢?
This word describes how much people want a specific product
What is demand?
Founder of Microsoft
Who is Bill Gates?
This term describes the money a business spends
What are Expenses?
Define a slogan
What is A short phrase used to advertise or describe a brand?
Your team has a great idea for a new snack. This is the first thing you should do.
What is research/See who wants it?
This term describes when a business spends more money than it earns
What is loss?
This woman created a billion-dollar beauty brand called Fenty
Who is Rihanna?
Define profit:
What is money left over after expenses are subtracted from revenue?
Define "Target Audience"
What is the demographic that a business wants to sell to?
You open a bakery but nobody comes. This is what might you need to improve.
What is marketing?
This is what it means to "invest" in a business:
What is giving money in hopes of earning more back later?
Define "Branding"
A customer says your product didn’t work well. This is what you should do.
What is Listen to try and fix it?
Define "mission statement"
What is a statement explains what a business does and what it stands for?
The youngest person to become a billionaire through a business they started
Who is Kylie Jenner?
Difference between "gross profit" and "net profit"
What is: Gross profit is before expenses; net profit is after expenses are taken out?
This term defines the acronym "USP", a way to helps customers understand why they should choose that business over the competition.
What is a Unique Selling Point?
You want to grow your business but need money. This is one way to raise funds.
What is get a loan/find investors?