Plan
A person or entity willing to spend money on a business with the hopes of getting a good return on that money spent.
Sales call
A phone call made by a business representative to potential customers in order to sell a service or good .
Debit Card
Card used for electronic deduction of funds.
Loan
Amount of money advanced to a business with the intention that the business will grow to the point to where it can pay back the loan, usually with interest.
Net profit
Value proposition
Referral
The encouragement from a satisfied customer to potential customers to use a particular business services or goods .
Cash
Liability
Amount of money owed to an entity. This can include mortgage payments, utility payments, and lines of credit.
Cost of Goods Sold
Expense category which tracks expenses directly related to inventory a business sells.
Startup capital
The total amount of money needed to start a business
Sales meeting
A conversation between a professional and a potential customer between their initial contact and the final sale.
Check
Written note instructing the dispersal of funds.
Negotiated Costs
Cost of services and resources agreed upon between two business entities, often a service industry and a manufacturer.
Gross Profit
The amount of net sales minus the total cost of goods sold.
Growth strategy
A strategy used to develop and increase the profitability of a company.
Sales pitch
A persuasive speech prepared by a professional used to entice a potential customers to purchase a service or goods.
Credit Rating
Estimate of the ability of a person or business to fulfill their financial obligations, based on prior history.
General/Limited Partnership
Type of partnership in which the business is nullified upon the death of a partner.
Gross Sales
Amount of sales for a time period before any deductions, such as sales returns.
Separation of duties
A business practice which refers to the roles individuals have inside of a company. Under this business practice, not every employee is expected to perform every responsibility in the company. Each individual is in charge of a specific job
Segmentation methods
Methods used to target potential customers. This can include behavioral, demographic, geographic, and psychographic methods
Line of Credit
Amount of credit given to a business so that it can make purchases and pay for them at a later date.
Management Buyout
Income Statement
Financial statement which details a business' revenue and expenses for a given time period.