Define These Business Startup Terms Flashcards

A clear, concise and compelling way to describe a business or new business concept in 30 seconds; a differentiating vision to encourage potential investors or employees to learn more.

A question that prompts more than a "yes" or "no" question. Engaging questions give entrepreneurs more information they can use to help them frame their differentiating offering and launch their business.

The decision point at which an entrepreneur makes the final decision on whether or not to launch a new enterprise or abort the effort due to unfavorable market research on pro forma projections

A complete package that supports a "Go" decision by an entrepreneur to launch a new business. A launch plan would include an Elevator Speech, supporting Market Research conclusions, an Organizational Plan (including an organizational chart and a Human Capital plan for attracting talented team members), a Marketing and Sales Plan, and pro forma financial projections.

How a business communicates with large numbers of customers, motivating them to learn more about the business and its offerings. Example: advertising is a marketing tool.

When an entrepreneur's actions and decisions are guided by a set of beliefs about how he/she wants the business to succeed.