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Entre: Unit 3
Entre: 3
| Term | Definition |
|---|---|
| idea | has potential to make money |
| opportunities | passed the test of planning, has potential, you can implement it, usually takes place in smaller firms, attractive, durable, timely |
| market | driven opportunity |
| competence | resources/skills |
| passion | willing to put in the long hours |
| adaptability | opportunity meets the customer's need |
| personnel and team | who adds other key resources and skills? |
| tolerance | risk/reward/stress |
| bootstrapping | start a company with little capital |
| ROI= | (gains-costs)/costs |
| purpose of break even analysis | analyze costs and level of sales needed to cover costs |