Entrepreneurship Series - Glossary of Terms, Part 1
So I started an Entrepreneurship programme and I've been learning quite a lot. I decide to share as someone out there might be in need of such knowledge.
In this first article, we'll learn about the glossary of common terms used in the Entrepreneurship sphere.
Glossary of Terms
Entrepreneur
An entrepreneur is someone who finds new ways to create and capture value in the world around them, creating a company in the process. Entrepreneurship is the process of starting businesses by identifying problems, figuring out solutions, acquiring resources to build the solutions, and managing the required activities.
Problem
A problem is some issue that matters so much to a customer that they will spend money to deal with it.
Solution
A solution is anything that solves a customer’s problem.
The Market
The market refers to customers in one of two ways. It could mean the total amount of money that customers spend on similar products or services. It could also mean the total number of customers for a product or service. Either way, a market represents a problem that needs to be solved.
Value Proposition
A value proposition answers the question “Why does your customer give you money, and not someone else?” It is a simple description of the unique solution that you are providing, based on a customer with a problem.
Key Activities
Key activities are the most critical elements of your business’s operation that allow you to offer a compelling solution to your customer’s problem. They are the things the company absolutely must do for it to be successful.
Posted using Partiko Android
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by gamsam from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Thank you so much for being an awesome Partiko user! We have just given you a free upvote!
The more Partiko Points you have, the more likely you will get a free upvote from us! You can earn 30 Partiko Points for each post made using Partiko, and you can make 10 Points per comment.
One easy way to earn Partiko Point fast is to look at posts under the #introduceyourself tag and welcome new Steem users by commenting under their posts using Partiko!
If you have questions, don't feel hesitant to reach out to us by sending us a Partiko Message, or leaving a comment under our post!
Congratulations @gamsam! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!