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WorksheetsStatewide Micro-Enterprise Review
Total questions: 20
Worksheet time: 10mins
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
The lowest point of cumulative cash flow - called the "nadir" or lowest point - is the minimum amount the venture will require in order to work through its early stages and emerge a vibrant, successful organization.
Cumulative Cash Flow
Burn Cash
Nadir
Expenditures
A worker that works independently by selling work or services by the hour, day or job with no intent to pursue a permanent or long-term arrangement with a single employer.
Free Lance Consultants
Accountant
Clerk
Entrepreneur
IT is an acronym for
Instant Trainer
Information Team
Incorporated Talent
Information Technology
A work or invention that is the result of creativity, such as manuscript or a design to which one has rights and for which one may apply for a patent, copyright, trademark, etc.
Invention
Intellectual Property
Commercial Ads
Product
Risks associated with the financial standing / performance of a venture
Financial Risk
Marketing Risk
Reputational Risk
Political Risk
Risks associated with the geography in which a venture operates
Financial Risk
Regulatory Risk
Political Risk
Business Risk
Risks associated with the success of a single venture.
Market Risk
Reputational Risk
Regulatory Risk
Business Risk
When an entrepreneur or small business leader work long hours for little or no pay to make a new venture succeed.
Business Risk
Perspiration Equity
Sweat Equity
Grit
An action plan for implementing to identify, prioritize and implement actions to reduce risks
Mitigation strategies
Acquisition
Contingency
Tenacity
The quality or fact of being able to endure and continue with determination.
Tenacity
Stamina
Contingency
Risk
