Chapter 5

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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


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