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Question Answer
Business concept statement A clear and concise description of an opportunity.
Feature A distinctive aspect, quality, or characteristic of a product or service.
Benefit Something that promotes or enhances the value of the product or service.
Feasibility study A study to help entrepreneurs decide whether a new business concept has potential.
Target customers Those most likely to buy the products/services.
Business plan A document that describes a new business and a strategy to launch that business.
Capital Wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
Executive Summary a summary of highlights, including the key selling points of the investment opportunity
Small Business Administration (SBA) Small the federal agency that provides services to small businesses and new entrepreneurs, including counseling, publications and financial aid
Mission Statement a declaration of the specific aspirations of a company, the major goals which it will strive for
Trade association An organization made up of individuals and businesses in a specific industry that works to promote that industry
Elevator Pitch a pitch delivered in the time it takes to ride the elevator
Elements of a business plan Executive summary, Company description, Marketing Analysis, organizational analysis, and financial analysis.

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