Entrepreneurship & Business Concepts
This trait describes the ability to persevere with courage toward long-term goals.
What is grit
This analysis category identifies external factors that may cause problems for a business.
What are threats?
This term describes sales made in person at physical locations.
What is a physical sales channel?
This center ships products quickly after orders are received, optimizing delivery times.
What is a fulfillment center?
Costs such as utilities, supplies, and wages fall into this category.
What are operating costs?
This legal structure combines pass‑through taxation with liability protection for owners.
What is an LLC (Limited Liability Company
This cost type becomes higher when marketing campaigns are ineffective.
What is customer acquisition cost?
This step involves identifying who might buy from you.
What is prospecting?
This stage of product development is when a concept is drafted.
What is the idea stage?
These investors fund businesses in exchange for equity.
Who are angel investors?
This entrepreneur characteristic includes taking action without being asked.
What is initiative?
The four P’s—product, price, place, and promotion—are known as this.
What is the marketing mix?
This step of the sales process involves preparing materials and researching customers
What is preparation?
The First step in the quality control testing process
What is Set quality Standards
Selling products before producing them through online platforms is called this.
What is crowdfunding?
This compensation type pays employees only for the amount of work completed.
What is piece work?
This segment tracks customer buying habits.
What is behavioral data?
This type of data analysis helps identify areas where sales are strong or weak geographically
What is geographic data?
One of the advantages of building your own software as a service
Offer users more control
Provides more functionality for specific needs
This budget outlines funds needed to operate monthly.
What is an operating budget?
This mindset means believing personal abilities can be developed.
What is a growth mindset?
This describes keeping customers engaged so they continue buying.
what is customer retention?
This type of customer interaction often happens after the sale, ensuring satisfaction.
What is follow‑up service?
When setting one’s own quality standards, one must ensure that the standards are
What is Measurable?
Loans supported by the government to reduce risk for lenders.
What are SBA loans?