Statewide Micro-Enterprise Word Bank

It is how you intend to communicate to large numbers of customers, motivating them to learn more about your business. (Example: advertising is a marketing tool.)

• selling

• marketing

• commercial

• social media

It is how you move specific customers to buy from you. (Example: a special event in your store’s parking lot featuring discount prices is selling.)

• ads

• marketing

• selling

• business pitch

For a business concept to be feasible there has to be an opportunity to create a venture, a way that a venture could solve a problem for customers / stakeholders

• unmet risk

• defensible advantage

• tenacious talent

• opportunity risk

A business concept is doable when it is based on a differentiated advantage that is defensible, meaning "financially sustainable and difficult for competitors to copy."

• Defensible Advantage

• Tenacious Talent

• Attractive Return on Capital

• Unmet Customers Need

A business concept is doable if prospective investors believe that there is a realistic opportunity to earn a return on capital far higher than their capital is currently receiving. No one wants to risk a million dollars to make a few thousand in return - but a business concept is doable if a defensible pro forma suggests that a return of millions is possible through the investment of a few thousand dollars.

• Tenacious Talent

• Opportunity Risk

• Attractive Return on Capital

• Defensible Advantage

Which is not an example of a Start-up Requirements?

• capital

• talent

• plan

• customers

• ads

The cost that it takes to produce a product or service. Includes materials and labor.

• Cost of Goods

• Personnel Cost

• Expense

• Marketing Sales/ Cost

It is a short, simple document that provides a clear summary of a proposed business venture.

• Vision Description

• Business Concept

• Prospective Investors

• Seasonality

A"hockey stick" projection is a revenue growth line sort of looks like a hockey stick - flat at first, and then a straight line up.

• Competitive Reactions

• Hockey Stick Projections

• Expansion Markets

• Assumptions

The action of spending funds.

• Expenditures

• Cumulative Cash Flow

• Nadir

• Burn Cash