Entrepreneurship

The process of creating a Business & taking on financial risks in hopes of generating a profit.

• Sole Proprietorship

• Entrepreneurship

• Corporation

• Executive Marketing

The ______________ is a way of thinking that enables you to overcome challenges and strive to get better every day

• Entrepreneurial Mindset

• Passion Project

• Innovative Headspace

• Networking Ideology

All of the following are characteristics of an entrepreneur EXCEPT for which?

• Passion

• Hardworking

• Creativity & Innovation

• Motivation & Confidence

• Closed mindedness

The goal of business is to make a profit. In order to make a profit, you have to ________ more money than you _______.

• make | spend

• spend | make

• make | inherit

• spend | borrow

If demand for a product is high and the supply is low, typically what will happen to the price?

• It will rise

• It will stay the same

• It will decrease

If demand for a product is low, and the supply is high, typically what will happen to the price?

• It will rise

• It will stay the same

• It will decrease

A guide for your business that outlines goals and how they will be achieved.

• Business Plan

• Corporate Structure

• Marketing Plan

• Balance Sheet

• Income Statement

Why do you need a business plan? Select ALL that apply.

• It requires you to think through your ideas

• It helps you make better decisions

• It provides you with steps for success

• It creates goals for you to achieve

• If you're looking for funding it is essential

This is the first section of the Business Plan, but it is suggested that you create it last. It provides a summary of the key points of your Business Plan.

• Executive Summary

• Table of Contents

• Cliff Notes

• Appendix and Exhibits

A description of what product or service you are offering, does it fill a need, and what problem it solves is included in which section?

• Sales & Marketing Plan

• Business Description

• Operating Plan

• Ownership & Management Plan