Better Business – Chapter 5 – Flashcards
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advisory board
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group of individuals who offer guidance to the new business owner
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angel investors
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wealthy individuals who are willing to put up their own money in hopes of a profit return later on
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bootstrap financing
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entrepreneurs start a business with little capital
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business incubator
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organizations that support start-up businesses by offering administrative services, business networking, etc.
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business plan
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formal documents that state the goals of the business as well as the plan for reaching those goals
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due diligence
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means to research and analyze a business to uncover any hidden problems associated with it
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enterprise zones
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geographic areas targeted for economic revitalizing
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entrepreneur
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assume the risk of creating, organizing, and operating a business and direct all of a business resources
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goodwill
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intangible assets represented by a business name, customer service, employee morale, and other factors
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growth entrepreneur
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strive to create fastgrowing businesses and look forward to expansion
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intrapreneurs
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employees who work in an entreprenurial way within a company
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lifestyle entrepreneurs
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look for more than profit potential when they begin their businesses
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micropreneurs
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start their own businesses but are satisfied with keeping their businesses small
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opportunity niche
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a need in the market that is not being adequately fulfilled
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Service Corp of Retired Executives (SCORE)
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a volunteer organization of retired executives who offer workshops and counseling to small businesses at no cost
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Small Business Administration (SBA)
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an independent agency of the federal government that was formed to aid, counsel, assist, and protect the interests of small businesses
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venture capitalists
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contribute money to a business in return for some piece of ownership
