What is Entrepreneurship?
Entrepreneurship is the act of creating, managing, and scaling a business to generate profit while taking on financial risks. It involves identifying a market opportunity and leveraging
innovative solutions to address it.
Who is an Entrepreneur?
An
entrepreneur is an individual who starts and operates a business, taking on both the risks and rewards associated with the venture. They are often characterized by their
innovation, creativity, and willingness to take calculated risks.
What is a Business Model?
A
business model outlines how a company creates, delivers, and captures value. It includes details about the products or services offered, target market, revenue streams, and cost structure.
What is a Value Proposition?
A
value proposition is a statement that explains how a product or service solves a problem or improves a situation for the customer. It highlights the unique benefits and differentiators that set it apart from competitors.
What is Market Research?
Market research involves gathering and analyzing data about a target market, including customer needs, preferences, and behaviors. This information helps entrepreneurs make informed decisions about product development, marketing strategies, and business operations.
What is Bootstrapping?
Bootstrapping refers to starting and growing a business using personal savings or revenue generated from the business itself, without relying on external funding sources.
What is Venture Capital?
Venture capital is a form of financing provided by investors to startups and small businesses with high growth potential. In exchange for capital, investors receive equity or ownership stakes in the company.
What is a Pitch Deck?
A
pitch deck is a presentation used by entrepreneurs to showcase their business idea to potential investors. It typically includes information about the business model, market opportunity, product, team, financial projections, and funding needs.
What is a Business Plan?
A
business plan is a comprehensive document that outlines a company's goals, strategies, target market, and financial projections. It serves as a roadmap for the business and is often used to secure funding from investors or lenders.
What is Scaling?
Scaling refers to the process of expanding a business to handle increased demand and achieve higher levels of revenue. This often involves increasing production capacity, entering new markets, and improving operational efficiency.
What is Customer Retention?
Customer retention is the ability of a business to keep its existing customers over a period of time. High retention rates indicate customer satisfaction and loyalty, which are crucial for long-term success.
What is Disruption?
Disruption occurs when a new product, service, or business model significantly alters the existing market or industry. Disruptive innovations often create new markets and value networks, displacing established market leaders.
What is a Pivot?
A
pivot is a strategic change in a company's direction or business model to better align with market demands or opportunities. This can involve altering the product, target market, or revenue model to achieve better results.