Entrepreneurship Basics
Entrepreneurship

Entrepreneurship Basics

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Learn the key terms and concepts every aspiring entrepreneur should understand.

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Entrepreneur

A person who starts and operates a business, taking on financial risks in the hope of profit.

Startup

A newly established business, typically in its early stages and often focused on innovation or solving a market gap.

Business Plan

A written document that outlines a company's goals, strategies, target market, and financial forecasts.

Market Research

The process of gathering, analyzing, and interpreting information about a market, including customers and competitors.

Venture Capital

A form of private equity funding provided by investors to startups and small businesses with high growth potential.

Innovation

The process of creating new ideas, products, or methods that add value or improve business performance.

Risk Management

The identification, evaluation, and mitigation of potential risks that could negatively impact a business.

Pitch

A presentation where an entrepreneur explains their business idea to potential investors or partners.

Break-even Point

The point at which total revenues equal total costs, and a business starts to become profitable.

Scalability

The ability of a business to grow and increase profits without a corresponding increase in costs.