Opportunity Cost
When you pick one thing, the other thing you didn’t choose is called this.
opportunity cost
This is a short speech that tells someone what your business idea is.
an elevator pitch
This is money you set aside instead of spending it now.
This person starts a business and takes on financial risks-true or false.
true
The “S” in SMART stands for this.
specific
If you buy books with your money instead of a shirt, the shirt is opportunity what
Loss*Cost*Decision*Leads
Cost
How long should an elevator pitch be
15*45*90 seconds
45 seconds
Saving money in this type of place keeps it safe and can earn interest.
Bank or savings account
Entrepreneurs often create businesses to solve this.
problem or need
his SMART letter helps you track progress by using numbers or dates.
measurable
If you play video games instead of doing homework, what did you give up?
learning or better grades
An elevator pitch should tell people what you do and what you are selling or offering.
your business
Setting a goal to save for a new bike is this kind of saving.
Short-term*Long-term
Short-term
his is a written plan that outlines a business’s goals, products, and finances.
business plan
A SMART goal is this, meaning it’s actually possible to achieve.
Achievable
You only have one hour. If you spend it watching TV instead of making money, this is your opportunity cost.
The money you could have learned
This is something you want the listener to do after hearing your pitch, like call you or visit your website.
call to action
This term means earning extra money just for keeping your savings in the bank.
Interest
This popular TV show features entrepreneurs pitching to investors.
shark tank
A SMART goal must matter to you, which is what this letter stands for.
realistic
Choosing to go to a party instead of practicing your business pitch means you gave up this.
practice time or a better pitch
This kind of story or sentence at the start makes people want to listen.
Hook
Creating a plan for how to save and spend money is called this.
budgeting
This term describes when an entrepreneur changes direction after a failed idea.
pivoting
I want to start saving more money is a smart goal-true or false
false