ESB Vocab 2

Bootstrapping

• A business owner funds the company using their own capital with no or minimal outside help.

• A Teacher funds the class with loans

• You place straps on boots to tighten them

• The loss of capital

Angel Investors

• Angels who have decided to open businesses on Earth

• People who behave like angels who like investing

• Investor who funds a business in exchange for a stake in the business.

• People who invest in topics for a good cause.

Aquisition Cost

• Any costs that a business incurs

• Any profits that a business incurs

• Any Assets that a business incurs

• Any equipment that a business incurs

Break-even Point

• When you have just as many friends as enemies.

• The point where you are stressed and can't take any more.

• When you race someone and end in a tie.

• the point at which net earnings and liabilities are 0.

Business Plan

• When you go to the park to practice being a better ball player.

• When the bank gives you a loan with hopes of repayment.

• When you plan with your parents about your career.

• A document that outlines and identifies how the business handles concept, capital and customers.

Critical Thinking

• Good at guessing the correct answer.

• The process of thinking that involves the consideration of multiple solutions.

• Being very good at board Games!

• Thinking about what it takes to be successful.

Crowdfunding

• Sharing of a start-up business online to pre-sell products.

• Getting a crowd together and starting a party

• Paying for a crowd of friends to get into a party.

• Buying presents for your closest friends.

Ethical Practices

• None of these

• Following some of the rules because people are watching

• Standards of conduct which professionals are held to and should follow.

• All of these

Forward Thinking Mentality

• Thinking about investing in your favorite business

• Thinking about running forward to win the race.

• Thinking about the past

• Thinking of and planning for the future.

Liability

• Amount of money I can earn in a single day

• Amount of money that a business owes to another entity.

• Money making Money

• Feeling doubtful because things aren't working