Business Basics
A person who starts and runs a business.
Entrepreneur
Finish the sentence:
"Our product ______ students organise their homework."
helps
Which group is the better target market for a homework assistance product?
A) Everyone
B) Students who lose homework
Students who lose homework
Someone who buys your product.
Customer
Finish the sentence:
"The ______ is that school bags are too heavy."
problem
True or False:
Every successful business solves a problem.
True
Money a business earns after paying its costs.
Profit
Finish the sentence:
"Our ______ is a lighter school bag."
solution
A company makes waterproof school bags.
Name one customer who would probably buy one.
Any sensible answer.
Examples:
A difficulty or need that your product helps to fix.
Problem
Who gives money to a business because they believe it will be successful?
Investor
You invent a machine that automatically feeds pets.
Name two benefits of your product.
Any two sensible answers, for example:
A business creates a reusable lunchbox to reduce plastic waste. What problem are they solving
Plastic waste / too much single-use plastic.
Your product helps pets when owners are at work.
Complete this sentence:
"I believe our product will be successful because..."
(Any sensible persuasive answer.)
You have one minute with an investor.
Name three things you should explain about your business.
Any three: