Business Plans
Describes the product or services offered by a company.
Product/Service Plan
The process of starting and running your own business
The number of steps of the entrepreneurial process
What is five?
Protects inventions or processes from theft
An Entrepreneur is defined as a person who undertakes the _________ associated with creating, organizing, and owning a business.
What is risk?
The part of the business plan that determines opportunities' within a market, competition, and demographics.
What is a Market Analysis?
A person who undertakes the risk associated with starting and running a business venture
Entrepreneur
In this stage of the entrepreneurial process, the business owner starts to generate ideas
What is discovery?
Protects creative works
What is copyright?
A family member is considering giving you $10,000 in exchange for 10% of your company. This family member is a potential _________
What is Investor?
The part of the business plan that is short and has the key points of the business plan.
What is the executive summary?
A cost that a business will only need to purchase once.
What is a one-time cost?
Within this stage of the entrepreneurial process, business owners start thinking about expansion projects
What is harvesting?
Protects business names and logos
What is a trademark?
Conducting Market Research is an example of this phase of the entrepreneurial process.
What is discovery?
Part of the business plan for forecasts monetary/financial successful of the company
Financial Plan
A detailed proposal of a new business
What is a business plan?
In this stage of the entrepreneurial process, the business owner gets to enjoy day to day operations
What is actualization?
Additional legal requirements are called...
What is the legal environment?
List one of the three main requirements to starting a business according to the module 2 slideshow.
What is developing a business plan, acquiring finances, and meeting legal requirements.
Outlines things like the management structure of a business and policies
The rules and regulations associated with starting a business that must be followed.. (hint: think ecosystems, weather)
What is the legal environment?
In this stage of the entrepreneurial process, the business owner researches patents or trademarks.
What is Concept Development
A document set up between partners
What is a contract?
The steps of the Entrepreneurial Process in order.
What is: Discovery, Concept Development, Resourcing, Actualization, Harvesting.