ESB v.2
Problem-Solving - ANS-The process of coming up with solutions to solve a problem
Break-Even Point - ANS-The point where a business's revenue matches its expenses over a
given period
Revenue - ANS-The number of sales and other income in a business for a given period
Risk Tolerance - ANS-The level of willingness to lose time and money when starting a business
Marketing Plan - ANS-A written plan that outlines a company's marketing strategies
Growth Mindset - ANS-Believing that one can accomplish anything with hard work
COO - ANS-The Chief Operating Officer holds a leadership role within a business. The COO is
responsible for overseeing the day-to-day administrative and operational functions of a business
Business Plan - ANS-A document that addresses the concept, customers, and capital for a
business
Employee - ANS-An individual hired by a company and compensated for their work
Investor - ANS-A person or entity willing to provide monetary funds to a business with the hopes
of earning a return on their money.
Risk - ANS-The possibility of something negative happening. In the context of a small business,
the possibility of a loss of time and money
Stakeholder - ANS-An individual with an interest in a business.
Partners - ANS-Two or more individuals that share a business's financial responsibility.
Product/Market Fit - ANS-The stage where a business's sales are high and continue to grow
because their product or service is something customers want and continue to purchase.
Small business - ANS-A corporation, partnership, or sole proprietorship that is privately owned
by one individual or a small group of people. They commonly have fewer employees and
revenue than larger-sized businesses.
Entrepreneur - ANS-An individual who aspires to start and run a successful business
Problem-Solving - ANS-The process of coming up with solutions to solve a problem
Break-Even Point - ANS-The point where a business's revenue matches its expenses over a
given period
Revenue - ANS-The number of sales and other income in a business for a given period
Risk Tolerance - ANS-The level of willingness to lose time and money when starting a business
Marketing Plan - ANS-A written plan that outlines a company's marketing strategies
Growth Mindset - ANS-Believing that one can accomplish anything with hard work
COO - ANS-The Chief Operating Officer holds a leadership role within a business. The COO is
responsible for overseeing the day-to-day administrative and operational functions of a business
Business Plan - ANS-A document that addresses the concept, customers, and capital for a
business
Employee - ANS-An individual hired by a company and compensated for their work
Investor - ANS-A person or entity willing to provide monetary funds to a business with the hopes
of earning a return on their money.
Risk - ANS-The possibility of something negative happening. In the context of a small business,
the possibility of a loss of time and money
Stakeholder - ANS-An individual with an interest in a business.
Partners - ANS-Two or more individuals that share a business's financial responsibility.
Product/Market Fit - ANS-The stage where a business's sales are high and continue to grow
because their product or service is something customers want and continue to purchase.
Small business - ANS-A corporation, partnership, or sole proprietorship that is privately owned
by one individual or a small group of people. They commonly have fewer employees and
revenue than larger-sized businesses.
Entrepreneur - ANS-An individual who aspires to start and run a successful business
