Review 1

Front

What is the most important quality of an entrepreneurial mindset?

Back

Flexible and resilient

Front

What are the four important characteristics an entrepreneur should have?

Back

Creativity, Determination, Empathy and Adaptability

Front

You are thinking about opening a shoe shop that sells Jordans and other sneakers. What two aspects should you think about to know if your idea is a good opportunity?

Back

risk level and demand for the product

Front

What are 2 benefits to being a third-party seller like Amazon?

Back

access to the customers and technology

Front

What are the internal measures to the SWOT Analysis?

Back

strengths and weaknesses

Front

What is the equation for customer acquisition cost?

Back

sales cost + marketing cost / # of new customers

Front

How can you keep your customers coming back?

Back

Referral bonuses and loyalty points

Front

What is the 1st step of the sales process?

Back

prospecting

Front

What is the 2nd step of the sales process?

Back

preparation

Front

What is the 3rd step of the sales process?

Back

approach