Entrepreneur Flashcards
Angel
A wealthy individual who is willing to invest personal money in interesting, high risk business venture with prospects of high returns in the future for equity holders.
Break even point
The minimum sales revenue or total units sold needed for a business to be able to cover its own expenses and begin to make profit
Business plan
A planning document for a new entrepreneurial venture that helps other people and the entrepreneur understand the business idea
Cash flow forecast
Process of eliminating the cash that will be coming into a business and the cash that will be flowing out of the business during the same period of time
Debt financing
Obtaining funds to start or operate a business by borrowing money that has been paid back to be a leader.
Demand
The quantity of a good or service buyers are willing to purchase at various prices
Entrepreneur
One who identifies market opportunities others have overlooked and who acts on those opportunities to create new goods, services, and the business ventures based on them
equality financing
obtaining funds to start or operate a business by selling shares of ownership in the business
expences
product cost plus operating expences
Flyers
short, expenses printed paper materials that are used for mass advertising and or good services
Good
something sold to customers that is physical. A good can be “touched”
Interest
price being paid to the lender for using his or her money
Logo
A graphical design is used by a business or organization to remind people of its name and objectives.
loss
total expenses minus total revenue expended, over a period of time
marketing appeals
approaches used to convince customers that they really need a good or service such as attractiveness.
market opportunity
A potential good or service that people want and are willing to pay for and which others have overlooked
market price
the price at which the quantity that buyers are willing to buy is equal to the quantity that sellers are willing to supply.
market place
the name was given to the entire “area” of places where goods and services are sold and purchased.
operating expences
costs that are required to cover the basic ongoing operation of the busiuness such as rent, advertizing, and utilities.
opportunity cost
the next best alternative use to given up when resources are used for an item or activities
product cost
usually refers to the cost of the actual materials and labor used to to produce the goods that are sold to customers. Also called cost or goods sold
profit
total revenue minus told expences, over a period of time, when total revenue is greater than total expences
revenue
total dollar amount of buisness recives from the sale of its goods or services over a particular period of time
service
something sold to customers that is not physical and cannot be “touched”
