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BUSINESS PLAN#1

A formal document detailing a business's goals, strategies, and financial forecasts, crucial for securing funding.

MARKETING STRATEGIES#2

Techniques used to promote a product or service, tailored to reach target audiences effectively.

FINANCIAL PROJECTIONS#3

Estimates of future revenue and expenses, essential for assessing a business's viability and funding needs.

VALUE PROPOSITION#4

The unique benefit a product or service offers to customers, distinguishing it from competitors.

CUSTOMER SEGMENTATION#5

The process of dividing a customer base into distinct groups to tailor marketing efforts.

REVENUE MODEL#6

A framework outlining how a business generates income, including pricing strategies and sales channels.

SWOT ANALYSIS#7

A strategic planning tool that identifies a business's strengths, weaknesses, opportunities, and threats.

PITCH DECK#8

A presentation summarizing a business plan, typically used to attract investors and stakeholders.

NETWORKING#9

Building relationships and connections within the industry to enhance business opportunities and support.

ELEVATOR PITCH#10

A concise, persuasive speech that outlines a business idea, meant to capture interest quickly.

INDUSTRY REGULATIONS#11

Laws and guidelines governing business practices in the music industry, essential for compliance.

KEY PERFORMANCE INDICATORS (KPIs)#12

Metrics used to evaluate a business's success in achieving its objectives.

BUDGETING#13

The process of creating a plan to allocate financial resources effectively within a business.

MARKETING MIX#14

A combination of factors used to market a product, typically including product, price, place, and promotion.

PROMOTIONAL STRATEGIES#15

Methods employed to increase awareness and sales of a product, including advertising and public relations.

FUNDING OPTIONS#16

Various sources of capital available to startups, such as loans, grants, and investor funding.

MUSIC DISTRIBUTION#17

The process of delivering music to consumers, including digital platforms and physical sales.

STREAMING SERVICES#18

Platforms that allow users to listen to music online without downloading, significantly impacting revenue models.

PROFESSIONALISM#21

Conducting business in a manner that reflects competence and respect, vital for success in the industry.

MENTORS#22

Experienced individuals who provide guidance and support to entrepreneurs in their business journey.

PRESENTATION SKILLS#23

The ability to effectively convey information to an audience, crucial for pitching business ideas.

COMPETITIVE ANALYSIS#24

Assessing competitors to identify strengths and weaknesses, informing strategic planning.

BUSINESS MODEL CANVAS#25

A visual framework for developing new business models, outlining key components of a business.