Unit 1.01 Key Terms

3. A thing that you can touch or a service that you can offer which is sold
7. All the expenses required to start your business.
8. Indicators for evaluating factors that are crucial to the success of a business.
10. A single, clear, compelling message describing a
12. A fluid, simple diagram that captures a business model.
14. The pathways to customers; accomplished through advertising.
15. One who organizes, manages, and assumes the risks of a business or enterprise.

1. The group a business is interested in making the focus of all
2. An idea for a new business that can be tested.
4. Money that comes into the business.
5. mission statement.
6. The favorable position an organization seeks to be more profitable than its competitors.
9. your customers.
11. company’s efforts.
13. The fixed and variable costs.