vocab 1
a person who sets up a business with the aim of making profit.
what is entrepreneur
the consumers desire to purchase a particular good or service
what is demand
a good quality of a business that is within.
what is strength
what is run rate formula
revenue for one month X 12
a document that states your business strategies and objectives
what is business plan
total wealth of an individual, company, or house hold, taking account of all final assets.
what is net worth
a person who invests in a companies stock
what is stockholders
what is ROI formula
(net profit/cost of investment) X 100
a test that determined preferences for specific fields or activities.
what is interest inventory
four forms of operational activities that play necessary roles in running a business. (production, marketing, management and finance)
what are business functions
something awarded to someone to recompense for a loss.
what is compensation
net burn rate =gross burn rate(-) monthly revenue
formula for burn rate
plan of what you want your future to look like
what is career plan
design for the successful operation of a business, identifying revenue, costumer base, product, details of financing.
what is a business model
the audience a business is marketing towards
what is target market
income - cost of goods sold - expenses=?
formula for net income
helps focus your efforts and increases your chances of meeting your goal.
what is smart goals
action of gathering information about consumers needs or preferences.
what is market research
a pathway that business use to reach costumers and sell their product.
what is sales channel
formula for selling price
(cost x desired profit margin) + cost