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Entre: Unit 3
Entre: 3
Term | Definition |
---|---|
idea | has potential to make money |
opportunities | passed the test of planning, has potential, you can implement it, usually takes place in smaller firms, attractive, durable, timely |
market | driven opportunity |
competence | resources/skills |
passion | willing to put in the long hours |
adaptability | opportunity meets the customer's need |
personnel and team | who adds other key resources and skills? |
tolerance | risk/reward/stress |
bootstrapping | start a company with little capital |
ROI= | (gains-costs)/costs |
purpose of break even analysis | analyze costs and level of sales needed to cover costs |