BDV Unit 2-TheVentureConcept

In this stage, writing a business plan and outlining a strategy are very important

Don’t be misled by the name of this stage. It can still be dangerous!

Generating an idea can go two ways. This way means looking for a marketing opportunity.

Take a look at this – it can help you find out what services are in demand.

Entrepreneurs share similar traits and characteristics, and they can also share this title

Entrepreneurs should spend a lot of time asking these two questions.

This contains ads and articles that appeal to a specific target market.

Thanks to us…get that garbage out of here!

Statistics indicate that most new business ventures fail within this many number of years.

This refers to products/ideas that already exist, but you’ve improved it!

I invented this. There are usually 10, but a strike is a strike!

I invented this. It’s a bird, it’s a plane…

A grant made by the government giving inventors sole right to make, use & sell inventions

This is a totally new creation of a product or service.

You can generate an idea by becoming aware of business ideas & concepts around you everyday!

Entrepreneurs need to check these often to assist in decision making & identify warning signals

In this stage, good management, keeping focused, and record keeping are really important.

You wouldn’t think that this is a reason for business failure.

This refers to the unique shape of a product or its packaging.

This characteristic refers to the ability to identify problems & create solutions.

I invented this sport played on the hardwood.

Original ideas, concepts and opportunities, which can be protected by law are called this.

This term refers to the money entrepreneurs enjoy after covering expenses.

The venture is in trouble, competitors & expenses increase you go back to the drawing board

In this state, an entrepreneur will consider hiring more employees or adding new product lines.

Entrepreneurs present well w/appropriate etiquette & manners referring to this characteristic

This type of entrepreneurship means coming up with an idea to take advantage of a situation.

This is the term used when an entrepreneur’s fear of failure does in fact come true.

We invented this interactive, technological tool you might see them in some of your classrooms!

This characteristic refers networking & developing a broad network of associates who can help