BizInnovator Startup - Intro

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Entrepreneur

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an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

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Pick the best definition for: Startup

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a temporary organization that searches for a repeatable and scalable business model

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Pick the best definition for: Small Business

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Started to fill a gap or provide a service, be your own boss.

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Pick two essential characteristics of successful entrepreneurs: Passionate and Determined, Profit-Oriented and Independent, Formally Educated and Driven, Extroverted and Aggressive

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Passionate and Determined

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What type of entrepreneur would best describe Dante, who runs Sock Nation, sells customized socks and slippers, donates a pair of shoes for every ten pairs sold, and aims to satisfy an unmet need while improving society? Options: Social Entrepreneur, Hobby Entrepreneur, Climate/Green Entrepreneur, Generic Entrepreneur

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Social Entrepreneur

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What type of business would best describe Keira's Sustainable Slabs, which sells cutting boards and decorative wood products from reclaimed or recycled wood, prioritizing sustainable methods and aiming to expand to other products sourced from reclaimed natural resources? Options: Climate/Green Entrepreneur, Social Entrepreneur, Hobby Entrepreneur, Generic Entrepreneur

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Climate/Green Entrepreneur

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True or False: The Business Plan and Business Model Canvas are static documents that are written early in the planning phase.

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False

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True or False: The Business Plan is a visual summary of the business model, often on one page.

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False

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The ______________________ is/are often required by potential investors, lenders, and other financial stakeholders prior to investing money or other assets into the new business venture.

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Business Plan

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Select all of the following that are NOT part of a Business Model Canvas:
i. Executive Summary
ii. Advertising Strategy
iii. Value Proposition
iv. Profit Analysis
v. Customer Relationships

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i. Executive Summary, ii. Advertising Strategy, iv. Profit Analysis