6. What are the common set-up-costs that
we need to consider before we open a business?
7. Business P__________ is one of the priciest expenses
a business (assuming, the business isn’t at home).
Most business owners lease their location from a
commercial landlord.
8. Business Premises is one of the priciest expenses for
a business (assuming, the business isn’t at home).
Most business owners lease their location from a
commercial landlord.
* Can be “Retail premises” or “Office premises”
9. St_____, Tools & Eq________ may all be necessary purchases.
- St________: is one of the biggest expenses (next to premises). It’s common
suppliers to offer 30-days credit or more because they
understand new business won’t have much cashflow.
- Tools & Eq_______: such as printers, computers, copy machines, etc.
can also be a considerable upfront expense as you
should have everything you need to carry out your work
from the beginning.
10. Stock, Tools & Equipment may all be necessary purchases.
- Stock: is one of the biggest expenses (next to premises). It’s common for
suppliers to offer 30-days credit or more because they
understand new business won’t have much cashflow.
- Tools & Equipment: such as printers, computers, copy machines, etc.
can also be a considerable upfront expense as you
should have everything you need to carry out your work
from the beginning.
13. • Power / Electricity
• Water
• Cable / Internet
• Gas
are all U__________ Costs
14. Employees (plus employee benefits, such as insurance)
cleaners, interns, etc. can all be considered
La_________ Costs
15. Employees (plus employee benefits, such as insurance)
cleaners, advisors, lawyers, etc. can all be
considered Labor Costs
16. • Business Insurance (premises, employee liabil
• Business Travel (car, taxi card, hotels)
• Business Advisors (accountants, lawyer, etc.)
• Licensing, permits, paperwork
• Website, online marketing
Other considerations:
17. When we want to refer to the ongoing, the month-to-month
cost of running/operating a business, we can call this
Ov___________ (costs/ expenses)
18. When we want to refer to the ongoing, the month-to-month
cost of running/operating a business, we can call this
Overhead (costs/ expenses)
Ex: “In an attempt to reduce overhead costs, the company downsized their office space a
and rented a new space away 20 minutes away from the city center.
20. A Competitor A___________ in marketing and strategic management is an
assessment of the strengths and weaknesses of current and potential customer
This research also identifies opportunities and threats and develops a strategic
to address both aspects.
21. A Competitor Analysis in marketing and strategic management is an
assessment of the strengths and weaknesses of current and potential customer
This research also identifies opportunities and threats and develops a strategic
to address both aspects.
22. What’s the opposite of appropriate?
as in:
“John’s actions were not appropriate and breached
company policy. He will be reprimanded accordingly.”
a) unappropriate
b) disappropriate
c) inappropriate
23. What’s the opposite of appropriate?
as in:
“John’s actions were not appropriate and breached
company policy. He will be reprimanded accordingly.”
a) unappropriate
b) disappropriate
c) inappropriate
24. If something is readily available what does this mean?
ex: “Our customer service representatives are readily
available to assist you.
• To readily agree …
• To be readily understood..
25. If something is readily available what does this mean?
ex: “Our customer service representatives are readily
available to assist you.
• To readily agree …
• To be readily understood..
26. “A wealth of….[something]” means…
ex: “There’s a wealth of information about creating a business plan online.”
ex: “Our cruise ship offered a wealth of entertainment for both
children and adults. There was a magic show, fitness classes, etc.”
a) something expensive
b) a lot of something (good)
c) something valuable
27. “A wealth of….[something]” means…
ex: “There’s a wealth of information about creating a business plan online.”
ex: “Our cruise ship offered a wealth of entertainment for both
children and adults. There was a magic show, fitness classes, etc.”
a) something expensive
b) a lot of something (good)
c) something valuable
29. Chamber of Commerce – is a business network and
organization of businesses that seek to further their
collective interests while advancing their community,
region, state or nation.
30. “Geographic” (data/info) is data based on location.
What is demographic data?
ex: “In 2014, the average number of children per family in HCMC was 2.09.
Life expectancy for males is 68.52 years, and 74.33 years for women. Th
demographic data was found on Wikipedia.
31. “Geographic” (data/info) is data based on location.
What is demographic data?
ex: “In 2014, the average number of children per family in HCMC was 2.09.
Life expectancy for males is 68.52 years, and 74.33 years for women. Th
demographic data was found on Wikipedia.
Demography = relating to
population
33. “The body of the [business] plan consists of more in-depth descriptions of the
fundamental elements and concerns of the business.
What does fundamental (adj) mean?
a) complex details
b) basic; core
a) interesting
ex: There are fundamental problems that need to be fixed before we think about
investing more money the business. Our cash flow is unstable and we don’t have a c
idea of who our target customers are!”
34. “The body of the [business] plan consists of more in-depth descriptions of the
fundamental elements and concerns of the business.
What does fundamental (adj) mean?
a) complex details
b) basic; core
a) interesting
ex: There are fundamental problems that need to be fixed before we think about
investing more money the business. Our cash flow is unstable and we don’t have a c
idea of who our target customers are!”
35. Precise (adj)
Precision (n)
Precisely (adv)
“The terms & conditions in the contract are precisely
defined.”
“Please give me precise directions to your house. I’m no
familiar with this city.
What does “Precise” mean?
36. Precise (adj)
Precision (n)
Precisely (adv)
“The terms & conditions in the contract are precisely
defined.”
“Please give me precise directions to your house. I’m no
familiar with this city.
Precise = exact; specific; detailed; definite
39. Many people make the
mistake of thinking
of their career / business
following a “Linear”
path.
This is rarely the case for
most…
pg. 7 “Crossing the River”
40. In reality, starting a
business / career path
looks more like this –
*so the best advice is to
step back, and understa
it will be a learning
process. Your direction/
or path may change in
a way that you didn’t
expect.
pg. 7 “Crossing the River”
42. Table of Contents
“Let(s) them know, at glance, what topics will be covered.
What does it mean to “glance” at someone or something?
“[Your readers] will also notice the maneuverability of your plan – that is, how easy is
to flip through the plan and quickly find the sections they want to read.”
“to maneuver” simply means, to _______________
*it’s difficult to maneuver around in a small apartment”
43. Table of Contents
To Glance:
“to maneuver” simply means, to move, change directions/course
*it’s difficult to maneuver around in a small apartment”
To direct the eyes at or toward something
briefly
44. Executive Summary
“When you speak to the CEO, please keep your responses concise and
get ‘straight-to-the-point’, If something is concise, that means …..
45. Executive Summary
“When you speak to the CEO, please keep your responses concise and
get ‘straight-to-the-point’, If something is concise, that means…
giving a lot of information clearly and in a
few words; brief but comprehensive.
“Can you give me a concise summary of your professional experience?”
*Synonym: “to be Succinct” or to do something “succinctly”
*Idiom: to be “short and sweet”
46. A M____________ statement is a statement of the purpose of a company, its reason
for existing; a written statement of a company’s core purpose.
47. A Mission statement is a statement of the purpose of a company, its reason for
existing; a written statement of a company’s core purpose.
48. Can you guess these
companies based on their
Mission Statement?
51. to inspire and nurture the human spirit – one person,
one cup and one neighborhood at a time.
52.
53. Bringing the best to everyone we touch and being
the best in everything we do
54.
55. Stages of a Business
If we said a business is still “on the drawing board” … which stage do you think
it’s in?
56. What’s another word for “Allows”?
a) Permission
b) Prohibits
c) Enables
“This technology _________(allows) users to find
any business owner’s name instantly.”
57. What’s another word for “Allows”?
a) Permission
b) Prohibits
c) Enables
“This technology _________(allows) users to find
any business owner’s name instantly.”
58. “You should disclose the company you represent when
you leave a phone message for a business person.”
Disclose means…
a) Not Tell
b) Tell
59. “You should disclose the company you represent when
you leave a phone message for a business person.”
Disclose means…
a) Not Tell
b) Tell (or make it known)
