Entrepreneurship-Ch4 Review
Reverse auction
Low bid wins (Dad and Bettis)
Part time employment
working 35 or fewer hours a week
What is the ultimate resource?
TIME is central to balancing home and business
Stand retailing
(Most ancient form) Putting a stand up and selling what they have
Network marketing/Multilevel marketing (MLM)
(Pyramid scheme!) Salespeople recruit customers and those customers become distributors of the products
Sponsored link
Form of paid advertising to get your company's website to the top of the search list
Volatility
Frequency of business starts and stops
Ecommerce
Online business
Multi channel marketing
Using different channels trying to reach customers
Time management
Very important to organize your time
Blog
Webpage where entries are posted in reverse chronological order (recent first)
B 2 B business
Business to Business transactions using Ecommerce
B 2 C business
Business to Consumer transactions using Ecommerce
Outsourcing
Contract with people or businesses outside of your business to do work
Poisoning the well
Creating a negative impression at your current job among your employer's customers
Key to keep full time and part time jobs separate
Do not contact customers of your part time business when you are at your full time job
Home retail
Parties and door-to-door (Tupperware/Mary Kay)
E-Bay
Largest consignment store/"garage sale" in the world
Covenant
Limitations imposed on an individual's property by that neighborhood group
home-based businesses
Most part time businesses start at home. EASIEST and FASTEST way to start a business
Variance
Permission from a government organization to act differently
Full time employment
Working more than 35 hours a week.
Aggrandizing
attempting to make your business or yourself seem more accomplished or grander than reality
Door to Door selling
going directly to the consumer's home or place of business
Zoning laws
government specifications for acceptable use of land and buildings in particular areas
4 reasons to start part time
1. Basic Experience 2. Lack of resource--TIME!!! 3. Narrow window of opportunity 4. Uncertain about demands
3 key considerations for part time small business start-ups (organization)
1. Cost 2. Time 3. Permanence
Tweet
140 CHARACTER or less message sent using the Twitter web service
Google receives how many searches per second worldwide?
40,000
What percent of entrepreneurs start part time?
75% or 3/4
SEO (Search Engine Optimization)
A general approach to website design intended to result in your site being displayed toward the beginning
Reserve price
A minimum acceptable selling price in an auction.
Conflict of interest
A person is facing two or more competing standards or goals
Pop-up business
TEMPORARY, not permanent, that offers services or products at a variety of locations for a brief period of time
Moonlighting
Working on your own part time after your regular job
