Entrepreneurship

Question	Answer
What is a profitable home-based business? (4)	1. Business that generates earnings 2. Profit enough to earn an income for the entrepreneur. 3. Profit- measure of success for the business. 4. Opportunities are ideas that can be turned into a successful business.
What factors should you consider when deciding which work-from-home business is right for you? (10)	1. Your personality and interests 2. Need in the community 3. Personal capabilities 4. Will time be proportional to profit? 5. Your business skills 6. Your available time 7. Your energy and health 8. Location 9. Financial position 10. Infrastructure, appliances and equipment needed.
What should be included in your idea's concept statement? (8)	1. Product description 2. Explanation of product benefits 3. How is your product unique? 4. Selling information (who, where, how much?) 5. Ordering information 6. Product creditability information 7. Packaging information 8. How your product differs from competitors'
How do you standardise a recipe? (7)	1. Make it as appealing as possible 2. Write down exact quantities of ingredients, the cooking time and temperature 3. Determine the exact yield, portion sizes and number of portions 4. Write down a detailed method 5. Photograph it for advertisement 6. End result must always be constant 7. Test variations

Resource summary

	Created by Christine Lessing over 7 years ago