Intro to Entrepreneur

Entrepreneur

A person who starts and manages a business, taking on financial risk to make a profit

Startup

A new business created to develop a unique product or service

Innovation

Creating new ideas, products, or methods to solve problems or improve existing ones

Business Plan

A written document outlining the goals, strategies, and operations of a business

Market

The group of potential customers for a product or service

Target Audience

The specific group of people a business wants to sell to

Revenue

The money a business earns from selling products or services

Profit

The money left after subtracting expenses from revenue

Expenses

The costs of running a business, such as rent, supplies, or wages

Budget

A plan that outlines how much money can be spent and where it will go

Capital

Money or assets used to start or grow a business

Investors

Individuals or organizations that provide money in exchange for ownership or profit

Equity

Ownership in a business

Pitch

A short presentation used to explain and sell a business idea

Scalability

A business’s ability to grow without significantly increasing costs

Risk

The chance of loss or failure in a business

Break-Even Point

When revenue equals expenses, resulting in no profit or loss

Competitive Advantage

What makes a business better or different from competitors

Brand

A business’s identity, including its name, logo, and reputation

Networking

Building relationships that can help support or grow a business

E-commerce

Buying and selling products or services online

Social Media Marketing

Using platforms like Instagram, TikTok, or Facebook to promote a business

Crowdfunding

Raising money from many people online to fund a business or idea

Minimum Viable Product (MVP)

The simplest version of a product used to test an idea and gather feedback

Disruption

When a new idea or technology changes an entire industry