| A | B |
|---|
| business concept | an idea for a new business |
| feature | a distinctive aspect, quality, or characteristic of the product or service |
| benefit | feature that promotes or enhances the value of a product or service to the customer |
| feasibility analysis | process used to test a business concept |
| target customers | consumers most likely to buy a product and service |
| competitive grid | a way to organize important information about the competition |
| business plan | a document that describes a new business, explaining to lenders and investors why the new business deserves financial support |
| vision | the main concept you have for your business |
| executive summary | a brief recounting of the key points contained in a business plan |
| distribution channel | the means of supplying a product to the customer |
| direct channel | the procedure of delivering a product or service directly to the customer |
| indirect channel | selling a product to a wholesaler who will find retail stores to carry the product |
| Small Business Administration (SBA) | a federal agency that provides services to small businesses and new entrepreneurs |
| trade associations | organizations offering technical and general assistance to entrepreneurs in a specific profession or industry |
