Copyright

Ch 51: WEST Business & Marketing Education: Starting a New Business

About This Chapter

In these lessons, you can review the steps of starting a new business. Use the videos and quizzes to help you prepare for the WEST Business & Marketing Education exam.

WEST Business & Marketing Education: Starting a New Business - Chapter Summary

This chapter includes a variety of lessons related to starting a new business, including developing a business plan and mission statement, securing permits and licenses, and setting a start-up budget. Use the videos to review topics in:

  • Steps for starting a new business
  • Writing a business plan
  • Niche marketing
  • Business licenses
  • Budget and start-up costs
  • Microfinancing
  • Crowdsourcing

The informative videos in these lessons are taught by subject-matter experts who present key business and marketing topics through fun visuals and examples. After watching these videos, you can use the corresponding multiple-choice quizzes to check your understanding and prepare for test day.

WEST Business & Marketing Education: Starting a New Business Objectives

The business and marketing educator licensure test is used to assess the skills of applicants seeking an endorsement for teaching business and marketing in Washington. It is a computer-based test that is made up of 110 multiple-choice questions pulled from five content areas; you'll have two hours and 30 minutes to complete this test.

Questions related to starting a business may be part of the entrepreneurship and marketing content area, which makes up about 22% of the test questions. You can use the videos and quizzes in this chapter to prepare for questions on starting and operating a new business as well as on why businesses fail or succeed.

7 Lessons in Chapter 51: WEST Business & Marketing Education: Starting a New Business
Test your knowledge with a 30-question chapter practice test
Steps & Aspects for Starting a New Business

1. Steps & Aspects for Starting a New Business

You wake up dreaming of a business venture, think about it often during the day, and wish for it before going to sleep. If you want to be your own boss, there are a few simple steps to help you get ready to start your own business. This lesson will help you get going.

Business Plans: How to Develop a Business Mission Statement

2. Business Plans: How to Develop a Business Mission Statement

Companies must develop an effective business mission statement in order to have an effective foundation for their marketing plan. This lesson explains what a mission statement is and the characteristics of a good business mission statement.

Niche Strategy in Marketing: Definition & Concept

3. Niche Strategy in Marketing: Definition & Concept

While some companies want to conquer the world, some just want a piece of it. In this lesson, you'll learn about niche strategy in marketing. You'll examine the different guidelines for getting into niche marketing and look at an example.

Types of Business Licenses & Permits

4. Types of Business Licenses & Permits

Just about every business requires some form of licensing or permit. Licenses and permits are issued by federal, state, and local authorities and can range from a mere permit to conduct business to specific licenses.

Start-Up Budget: Definition & Example

5. Start-Up Budget: Definition & Example

This lesson will define a start-up budget. We'll look at an example budget from the perspective of a potential lender, along with a list of items to remember when building the budget.

Microfinance for Entrepreneurs & Small Businesses

6. Microfinance for Entrepreneurs & Small Businesses

In this lesson, we define what microfinancing is and explore the uses and goals of this incredibly new and exciting form of economic assistance geared toward helping those in the third world.

What is Crowdsourcing? - Definition & Examples

7. What is Crowdsourcing? - Definition & Examples

This lesson explores why crowdsourcing is a valuable tool for business and how it can be applied to marketing related tasks. Companies usually have an interest in crowdsourcing because it is free and allows their talent pool to grow.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Other Chapters

Other chapters within the WEST Business & Marketing Education (038): Practice & Study Guide course

Support