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Definition
| a category of expenditure that a business incurs as a result of performing its normal business operations |
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| a cost that does not change with an increase or decrease in the amount of goods or services produced |
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| an expense that varies with production output |
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| a cost composed of a mixture of fixed and variable components. cost are fixed for a set levelof production or consumption, becoming variable after the level is exceeded |
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| a company's revenue minus its cost of goods sold |
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Definition
| the amount of sales or revenues that it must generate in order to equal its expenses. the company neither makes a profit or a loss |
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| a document that describes and a strategy to launch that business |
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Definition
| a brief recounting of the key points contained in a business plan |
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Definition
| your qualifications and any partners |
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| outlines the companies basic background info, business concept, goals, and objectives |
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| describes the features and benefits of the business's products and services |
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| Vision and Mission Statements |
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| set the guiding principles from which the company functions |
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| must address basic trends and growth within the industry |
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| presents your market research and features of a customer demographic profile that defines the traits of the company's target |
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| focuses on demonstrating that the proposed business has an advantage over its competitors |
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| describes a companiy's mixed market strategies or how it plans to market, promote, and sell its products and services |
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Definition
| includes info about all the processes that take place in the business and offers info about the business's legal structure, methods of responsibility for record keeping, legal, and insurance issues |
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| presents past and current finances and financial forecasts and explains the assumptions made when calculating forecast figures |
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| looks at how the business will expand in the future |
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| examines the assumptions in the business plan and the greatest risks to the business and suggests plans to minimize the risk |
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| first page of the business plan and includes the company name, address, phone number, web site address,email address, and company logo |
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Definition
| follows the cover page and includes the company's name; names, titles, and addresses of the owners; date the business plan was issued; and the name of the person who prepared the business plan |
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| Small Business Administration |
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Definition
| SBA a federal agency that provides services to small businesses and new entrepreneurs |
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| Service Corp of Retired Executives |
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Definition
| SCORE dedicated to provide free face to face and email counseling to small businesses |
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| Small Business Development Centers |
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Definition
| SBDCs program administrated by the SBA |
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Definition
| provide info about the local economy |
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| offers technical and general assistance to entrepreneurs in a specific proffession or industry |
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