| Term | Definition |
|---|
| business concept | an idea for a new business that can be tested |
| feature | a distinctive aspect, quality, or characteristic of the product or service |
| benefit | something that promotes or enhances the value of the product or service to the customer |
| feasibility analysis | determines if an idea for a new business is practical |
| target customers | the people that are most likely to buy your products and services |
| competitive grid | allows you to organize important info about the competition |
| business plan | a document that describes a new business |
| vision | the main concept you have for your business |
| executive summary | a brief recounting of the key points contained in a business plan. |
| distribution channel | the means for supplying the product to the customer |
| direct channel | delivering the service directly to the customer |
| indirect channel | selling your product to a wholesaler who finds retail stores to carry your product |
| Small Business Administration | a federal agency that provides services to small businesses and new entrepreneurs. |
| trade association | offers technical and general assistance to entrepreneurs in a specific profession or industry. |
Combine with other sets
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