Chapter 5: Feasibility and Business Planning

Front

a tool for organizing important information about a business venture’s competition

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Competitive matrix

Front

The process that tests a business concept; it allows the entrepreneur to decide whether a new business concept has potential

Back

Feasibility analysis

Front

the means of delivering a service or product directly to the customer, such as via a Web site.

Back

Direct channel

Front

the federal agency that provides services to small businesses and new entrepreneurs, including counseling, publications, and financial aid.

Back

Small Business Administration (SBA)

Front

A clear and concise description of a business opportunity. It contains four elements: the product or service, the customer, the benefit, and the distribution.

Back

Business Concept

Front

A collection of businesses with a common line of products or services.

Back

Industry

Front

A person who receives value in terms of monetary or other value by circumstances represented in a legal document, i.e., will, insurance policy, etc.

Back

Beneficiaries

Front

a document that describes a new business and a strategy to launch that business.

Back

Business plan

Front

A declaration of the scope and purpose of a company

Back

Vision Statement

Front

A declaration of the specific aspirations of a company, the major goals for which it will strive

Back

Mission Statement