Chapter 5
home
most part time businesses are operated out of
stand retailing
one of the most ancient forms of small business
75%
percentage of entrepreneurs start on a part time basis
variance
permission from a government organization to act differently than the laws state
Gain basic experience las the resources necessary a narrow window of opportunity uncertain about the demands
reasons entrepreneurs start part time
Votatility
the frequency of business starts and stops
Covenant
the limitations imposed on an individuals property by the neighborhood group
door to door selling
the practice of taking products directly to the homes or places of business of potential customers and attempting to sell the product immediately
Time
the ultimate resource
multichannel marketing
the use of several different channels to reach your customers
consider the cost to start up consider the time to start up consider the permanence of the business
to help become more organized
Part time employment
working 35 or fewer hours
full time employment
working more than 35 hours
moonlighting
working on your own part time after your regular job
home party
A business model in which the entrepreneur arranges a customer to host a party, inviting friends, family, and neighbors. During the party, the entrepreneur demonstrates products and accepts orders for future delivery.
reserve price
A minimum acceptable selling price in an auction. If the bidding does not exceed the price, the sale will not go through.
pop up business
A temporary business that offers services or products in a variety of locations for a brief period at a time.
Blog
a web page which entries are posted in reverse chronological order
network marketing
an approach to selling in which the salesperson recruits customers to become distributors of the product or service to others
reserve auction
an auction where the low bid wins
aggrandizing
attempting to make your business or yourself seem more accomplished
E-commerce
business on the internet
home based business
business operated out of home
poisoning the well
creating a negative impression among your employers customers
home based
easiest and fastest way to start, close, or move a business
website, direct mail, email
examples of multichannel marketing
roadside, flea market, farmers market, craft fair
examples of stand retailing
40,000
google receives _______ searches per second worldwide
Zoning laws
government specifications for acceptable use of land and buildings in particular areas
business to business transactions using e-commerce
B2B
business to consumer transactions using e-commerce
B2C
outsourcing
Contracting with other companies outside of your business to do work for your business
tweet
a 140-character or less message sent using the Twitter web service
Sponsored link
a form of paid advertising that gets your company's website at the top of a search list
Search Engine Optimization (SEO)
a general approach to website design intended to result in the site being displayed toward the beginning of a search engine listing for that term
conflict of interest
a situation in which a person faces two or more competing standards or goals