Define the term 'venture' in the context of entrepreneurship.

A 'venture' refers to a new business undertaking, often involving risk and aiming for profit or growth.

What is 'revenue' and why is it important for a startup?

Revenue is the income generated from normal business operations. It's crucial for startups as it indicates the business's ability to generate sales and sustain itself.

Explain the concept of a 'market' in entrepreneurship.

A 'market' refers to a group of potential customers who have a need or want for a product or service and are willing and able to purchase it.

What is the difference between an Idea Stage and a Prototype?

An Idea Stage is the initial concept for a business, while a Prototype is a preliminary model or version of a product created to test its feasibility.

Explain the difference between a Business Plan and a Business Model.

A business model describes how a company creates, delivers, and captures value, while a business plan is a formal document detailing the company's goals, strategies, and financial projections.

Entrepreneurship Key Terms

11th GradeSocial Studies75 min

Learning Objective

I can define key entrepreneurship terms like venture, revenue, and market.

Lesson Flow

Watch Video

12 min

21 Startup terms YOU NEED TO KNOW! | Part 1 | ft. @SonyPicturesEntertainmentIndia

Labour Law Advisor

Guided Notes

15 min

Key concepts students will learn:

•
At the beginning of a startup, common stages include idea stage, prototype, and MVP (minimum viable product).
•
A business model explains how and why a company will earn money, while a business plan states when and how much money will be earned.
•
Bootstrapping refers to investing your own money into a business, while other funding options include incubators, accelerators, and angel rounds.

Practice

23 min

12 questions • Short answer

Exit Ticket

5 min

“Define the following entrepreneurship terms based on the video: venture, revenue, and market.”

Teacher Guide

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Answer keys for all questions
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Entrepreneurship Key Terms

Learning Objective

Lesson Flow

Watch Video

Guided Notes

Practice

Exit Ticket

Teacher Guide

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