Business Planning Flashcards
1
Q
A measurable milestone used to lead towards an achievement
A
An objective
2
Q
A statement that clearly expresses the nature of your business
A
Mission statement
3
Q
SWOT
A
strengths
Weaknesses
Opportunities
Threats
4
Q
Five steps to maintaining focus on achieving a goal
A
PREAM
post, review, evaluate, adjust, monitor
5
Q
The network of friends, family members and acquaintances to help establish the first source of customers.
A
Sphere of influence
6
Q
A target market to which you want to devote the greatest amount of time/energy.
A
Primary market
7
Q
Three criteria of a primary market
A
Measurable group
Accessible for communication
Large enough for profit
