S1 Young Entrepreneurs

characteristics of an entrepreneur

risk taking, innovative, hard working

vision statement

where the company sees itself in 5+ years

mission statement

the goal of the business

4 p's of marketing

price promotion place product

financing

bootstrapping, business angel, bank loan, crowdfunding

SWOT

strengths, weaknesses, opportunities, threats

What is a SWOT analysis

a business forecasting tool

SMART goal

setting realistic objectives

what does SMART stand for

specific, measurable, attainable, relevant, time-bound

types of businesses

partnership, sole trader, company

why is partnership less risky

less financial risk

tangible

physical product

intangible

a service

stakeholder

customers,suppliers,employees,government etc

shareholders

people who own a part of the company