An entrepreneur must take into account their ___________________ when completing their differentiating strategy

Location, product or service quality can be used in the __________________________ strategy

Young people between the ages of 21 - 45 with a medium to high income that live in the St Tammany parish buying market would be considered the

My proposed business is barber shop so I would consider the money I receive from giving haircuts what?

My proposed business is barber shop so I would consider the money I receive from giving haircuts what?

My proposed business is a barber shop the shampoo that I use to wash my client's hair would be considered what?

The owner of a business pays himself/herself at the same time the other employees are paid.

Using social media, flyers, banners and television ads are _____________________________ strategies

Having an open house for a new business that offers discount coupons to everyone who attends is considered a _____________________________ strategy

The type of funding that a business owner can use that will allow them to not pay the money back is called

An investor pays 100,00 for 30% of your business. The investor now has ______________________ in your business.

The fastest way to borrow money for a business is to get a loan from a bank.

A bank loan has the highest interest rate that can be paid by a business for a loan.

The items that are listed on a Launch Plan are

What state governmental official is in charge of all of the new business filings?

Entrepreneurs invest in accounting software for many reasons. Most important reason is

An employee cuts off his finger while preparing a dish for your restaurant. What type of insurance would you file a claim with?

It is illegal for businesses to keep their financial records on paper instead of using accounting software

While shopping at your store a customer pulls a shelf down on their head. What type of insurance would you file a claim with?

During a hurricane in the Keys your souvenir shop is flooded by Gulf of Mexico water damaging your building and all your inventory. What type of insurance would you file a claim with?

You have asked an employee to take your company car and pick up a package from the airport. On the way there he/she hits another car and does substantial damage to the car but no one is hurt. What type of insurance would you file a claim with?

You receive a letter from the IRS stating that there is a $5000 mistake on your business tax return. The tax return was prepared by your bookkeeper. What type of insurance would you file a claim with?

Your business partner is concerned about the business and his family if something would ever happen to him. It would be smart to purchase what type of insurance to cover this unexpected event if it would happen.

If your revenue is greater than your expenses for your business, then it is said that the business is ____________________________________

You own a business that constructs furniture. On the Pro Form where would you record the price of the wood and nails that you purchase to build the furniture.

Price is a GREAT differentiating strategy for a company.

The shampoo that is sold to customers at a barber shops would be considered _______________________________

A customer slam their hand in the door of your restaurant. For their medical bills to be paid you will need to file what type of insurance claim?

When acquiring a loan from a bank you may have to provide an extensive amount of information.

Money given as capital is not expected to be paid back with monthly cash payments.

Attracts customers and generates sales that is different from other businesses

The intended group of customers you want to serve

One page financial projection that list your major revenue sources and expenses

How you intend to communicate to large numbers of customers, motivating them to learn more about your business

How you move specific customers to buy from you.

Detailed to do list of steps you'll need to take a to go from concept and funding all the way to business launch

Software program to track financial information like budgets, expenditures, invoicing and payroll

The amount of money earned from the sale of products/services.

Money paid by an employer to an employee for work done during a period of time

The outflow of money to another person or group to pay for an item or service.

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

The amount of money spent to sell product or services. Includes advertising materials, promotions, public relations, and other expenses like salaries and travel.

Cost of running a business that goes not lead to the generation of profit. Such as accounting and legal expenses.

The value of funds in accounts or tangible machinery/production equipment

The trust that allows one party to provide money or resources to another party where that the second party does not reimburse the first party immediately.

A risky or daring journey or undertaking

The annual cost to you for your insurance

The amount you will pay before the insurance company reimburses you for your loss.

Short, simple document that provides a clear summary of a proposed business venture

A concise, compelling description of the proposed venture. No time limit

Person or entity that may be interested in providing capital for your business venture

A revenue growth line that is flat at first and then a straight line

Product or services that experience regular and predictable changes that recur every calendar year

How your customers and competitors respond to your marketing and selling strategies

The ability to go beyond your customers into markets that have not been in your typical plan.

An idea that is accepted as true or as certain to happen without proof.

Separate section in your pro forma that allows you to make varying assumptions that will help you avoid introducing errors in calculation to the pro forma spreadsheet

Financial term that means "big enough to care about"

Insignificant changes that do not hurt the overall performance of a business

The action of spending funds

Cash in and out of the business over a period of time

The rate at which the company is losing money.

The lowest point of cumulative cash flow...the minimum amount the venture will require in order to work through its early stages and emerge a vibrant, successful organization

Cost that vary depending on the rise and fall of production

Acronym for Information Technology

A worker that works independently by selling work or services by the hour, day or job with no intent to pursue a permanent arrangement with an employer

Phrase that means to add up or make economic sense

Bringing about strong emotions or feelings

possible to do easily or conveniently

Needs of customer that are currently not being addressed by your company or any company

An advantage you have and can sustain over your competition. Financially sustainable and difficult for competitors to copy

The expectation of money earned based on amount of investment

Owner of information, knowledge, patent, copyright , trademark. Others are forbidden to use it.

A work or invention that is the result of creativity

The evaluation of the quality of human capital in a venture

A future event or circumstance that is possible that can not be predicted with certainity

The quality or fact of being able to endure and continue with determination

The ability to sustain prolonged physical or mental effort

A situation involving exposure to danger

Risk associated with the success of a single venture

Risk in a market sector that impacts all competitors in that sector

Risk associated with the financial standing/performance of a venture

Risk associated with the financial standing/performance of a venture

Risk associated with geography in which a venture operates

Risk associated due to government passing laws or regulations that could impact the ability to operate

An action plan for implementing to identify, prioritize and implement actions to reduce risk

Funds contributed by the owner

When an entrepreneur or small business leader works long hours for little or no pay to make a new venture succeed

An innovation, service or feature intended to make a company or product attractive to customers

A business created from scratch

An existing business purchased from its owner

A proven business concept, an establised brand, and all types of management support

The person purchasing a franchise

The person or entity offering the sale of the franchise

Money owned to a franchisor per the contract agreement

A new business launched by two existing businesses

Maximum efficiency in representing information