Start up
what does distribution channel mean?
A method used to get a product from the manufacturer to the end-users
what does critical thinking mean?
Using one’s mind to solve a problem in the best way by considering various potential
solutions to the problem
what is a business plan?
A document that addresses the concept, customers, and capital for a business
what is a CFO?
The chief financial officer holds a leadership role within a business. The CFO oversees a
company’s finances
what does acquisition cost mean?
Costs incurred by a business
what does innovation mean?
A new idea, product, or method
what is a growth mindset?
Believing that one can accomplish anything with hard work
what are demographics?
Statistical data that refers to particular groups within a population
what is a CEO?
The chief executive officer holds a leadership role within a business. CEI oversees a
business’s operations and resources and makes the major decisions for the company
what is a fixed cost?
Costs a business has that remain the same no matter the volume of production
what is a lean canvas?
A one-page document discussing key information commonly seen in a business plan
what does problem-solving mean?
The process of coming up with solutions to solve a problem
what does marking mean?
A form of communication between businesses and customers which relays a message
promoting services and/or goods
what is a COO?
The chief operating officer holds a leadership role within and business. The COO is
responsible for overseeing the day-to-day administrative and operational functions of a business
what are operating costs?
The expenses incurred for running day-to-day tasks in a business
what does pitch deck mean?
A presentation given to potential investors to provide a brief overview of the business plan to earn another meeting
what is a risk?
The possibility of something negative happening. In the context of a small business, possibility of loss of time and money
what does marketing plan mean?
A written plan that outlines a company’s marketing strategy
what is a customer?
An individual or business that purchases goods and services from a business
what is a royalty fee?
Fees paid for the use of a brand name or image
what is a prototype?
A preliminary product, commonly a product with minimum viability, from which to test and
develop
what is self-reliance?
trusting one’s self, goals, and progress
what is a target market?
The group of customers a company chooses to market its products and services
what is an employee?
An individual hired by a cómo may and compensated for their work
what are variable costs?
Fluctuating costs that a business has spending in production