Chapter 5
Terms
undefined, object
copy deck
- Vision
- The main concept you have for your business
- Business plan
- a document that describes a new business
- Executive summary
- A brief recounting of the key points contained in a business plan
- Indirect channel
- Selling your product to a wholesaler who finds retail stores to carry your product
- Business concept
- An idea for a new business that can be tested
- Benefit
- Something that promotes or enchances the value of the product or service to the customer
- Direct channel
- A service you will probably have like a web site
- Competitive grid
- Allows you to organize important information about the competition
- Distribution channel
- Supplying the product to the customer
- Feasibility analysis
- Determines if an idea for a new business is practical
- Small Business Administration
- A federal agency that provides services to small businesses and new entrepreneurs
- Feature
- A distinctive aspect, quality, or characteristic of the product or service
- Trade associations
- Offers technical and general assistance to entrepreneurs in a specific profession or industry