Starting Your Business

Starting Your Business

Create the Name of Your Business

Why is the name important?

https://blog.hubspot.com/sales/business-name-ideas

Multiple Choice

The purpose of a business plan is to?

• describe how a business will operate
• guide development of the business
• obtain a loan
• All of the Answers

Find your target market

• What or who is the target market?

• A target market is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service

Demographics

Demographic segmentation is market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. Demographics can be segmented into several markets to help an organization target its consumers more accurately. With this type of segmentation, an organization can categorize the needs of consumers.

Multiple Choice

Step 1: After gathering your ideas you should

• use your math skills to create a chart or graph

• highlight the strengths and weaknesses of each idea

• test your idea with people you trust

• all of the answers stated

Multiple Choice

Step 1: What should you begin with when creating a business?

• begin with what you know

• start with what someone tells you

• find failed businesses online to use

• ask your friends for ideas

Multiple Choice

Step 1: which is not a basic step to creating your own business:

• have an idea

• create a business plan

• market your product

• Use a business plan without researching

Logo-why is the logo important for your business?

The right logo says everything without saying a word. It connotes feelings of honor, trust, pride, excellence and integrity. 

Multiple Choice

The amount paid to buy an item.

• demand

• cost

• profit

• deposits

Multiple Choice

The amount spent on something.

• demand

• cost

• profit

• deposits

• expenses