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20 Cards in this Set
- Front
- Back
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Organizations made up of professionals in a specific industry are called.
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Trade Associations
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A business run out of your home.
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Home-based business
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A written document that describes all of the steps necessary for opening and operating a successful business.
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Business plan
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Amway, Tupperware, Avon, and Mary Kay Cosmetics are all examples of this type of business model.
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Multi-level Marketing
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Business done over the internet using your own personal company web site
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e-commerce
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Promotes the local business area and offers assistance to local business's in an area.
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Chamber of Commerce
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A business model in which you do not produce your product for porfit but rather only earn a royalty or commission on its sales.
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Licensing a product
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A legal agreement that gives the individual the right to market another company's products or services in a particular area
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Franchising
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A facility dedicated to a business whether retail, wholesale, or manufacturing.
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Brick and mortar business
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A sub category of e-commerce where the seller takes advantage of this web sites huge marketing base and can use its templates and payment features to sell or auction its products.
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e-baypreneurship
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Should you be afraid to identify potential problems and risks in a business plan?
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No
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Is a business plan necessary only if you need to secure financing for your busines?
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No
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A financial statement based on projected (not actual) revenues and expenses.
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Pro forma financial statements
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An independent agency of the federal government created to help Americans start, build, and grow businesses.
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Small Business Administation (SBA)
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An organization made up of more than 10,500 retired executives who volunteer their time to provide entrepreneurs with real-world advice and know-how.
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Sevice Corps of Retired Executives (SCORE)
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Short term sales projection.
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First year
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Mid-term sales projection.
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2-5 years
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Long term sales projection
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More than 5 years
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Who is interested in reading your business plan?
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1.Lenders
2. Investors 3. Franchise Owners 4. Owners - use it as a management tool |
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What are the 3 purposes of a business plan?
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1. It describes what your business will produce or what service it will provide.
2. Explains who will run your business? 3. States how your business will attract its target market and how it will keep those customers |
