Basic Concepts
This is when you start a business on your own without any outside money.
This is when you check if people are interested in your product before you make it.
What is Market Research?
This is when you use the money you make from selling to grow your business.
What is Reinvesting Profits?
The money you need to start your business.
What is Startup Capital?
The first, simple version of a product to see if people like
What is a Minimum Viable Product (MVP)?
The type of customers who first buy or try new products.
What are Early Adopters?
Making more of your product because a lot of people want it.
What is Scaling Up?
This is the money your business earns after paying for everything it needs to run.
What is Profit?
When you get money from others to help your business grow fast.
What is Venture Capital?
Selling products or services directly to people in their homes or workplaces.
What is Direct Sales?
This is talking to lots of people about your product so they know it exists.
What is Marketing?
When you make a plan for how to spend and make money in your business.
What is Budgeting?
This is what you call someone who starts their own business.
What is an Entrepreneur?
This is when you make sure your product is what customers really want.
What is Customer Validation?
he process of making your business bigger and better.
What is Expansion?
Keeping track of your business's money.
What is Accounting?