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Unit 19 Pitching for a new business Flashcards | StudBud
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Unit 19 Pitching for a new business
Unit 19 Pitching for a new business
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1
An individual who undertakes the risk of creating, organising and owning a business
entrepreneur
entrepreneurship
small business
2
Why do you need a business plan?
Gets everyone to focus on the same goals
It is required by law
To raise capital
Gives an objective look at what you are doing and why
3
What do hard skills mean?
skills learned through courses, training eg IT skills, marketing skills etc
skills related to how you work communication, team working, problem solving
4
The process of creating something new that makes life better is called
Technology
Brand recognition
Innovation
5
What is a micro- business?
A business with less than 4 employees
a business with less than 50 employees
a business with less than 100 employees
6
True or false: A standard business plan is one page in length
False
True
7
A clear concise way to describe a new business to investors in under a minute
Elevator pitch
Market speech
Sales pitch
8
What percentage of new businesse fail within 5 years of starting
less than 25%
50%
More than 50%
40%
9
What four elements are part of the marketing mix
Product ,price ,process ,promotion
Product, price, place ,people
Product, price, place, process
Product, price, place, promotion
10
Which type of skills do you need to start up your own business?
Soft skills
Hard Skills
both sets of skills
