Entrepreneur

• Business Plan


  A formal written description of your business future by defining your goals, strategies to meet the goals, and the time frame for the achievement of those goals
• Product/Service Plan


  This part describes the highlight of the product or service offered to the customers so that they will be encouraged to patronize your product or service
• Executive Summary


  This contains a brief introduction and summarizes everything that is relevant and important to the prospective business audience
• Management and Organization


  This part includes all the basic information about your business
• Financial Plan


  This is a document containing your current financial situation as an entrepreneur
• Selling Price


  The price at which a product or service is sold to the buyer
• Product Cost


  The total cost when fixed cost and variable cost are added. It is also a cost incurred by a business from manufacturing a product or providing a service
• Fixed Cost


  This kind of cost is considered unchanging no matter how much a business increase or decrease its sales
• Variable Cost


  This kind of cost is considered as relative or proportional to the output produced by the business
• Product design is a tangible representation of a product idea or design concept
• Product description


  Your opportunity to explain to individuals why your organization is the best and why they should buy your item
• Testing of prototype and validation


  Determines the product functions and tests if it needs further analysis
• Influential words such as amazing, miracle, revolutionary, or sensational are words can improve the persuasiveness of product description
• Prototype


  A primer model or sample of another product or service that is made to test a product idea or service measure
• Value Chain


  • The main purpose is to add value to the product to make it presentable to the client
  • The major objective of this chain is to gain complete customer satisfaction
  • It is about gaining competitive advantage over its competitors
• Supply Chain


  • This involves moving the product from one place to another
  • The sequence of flow is up from the customer to the source