Business Vocab Terms (1)
Investor
A person or entity willing to provide monetary funds to a business with the hopes of earning a return on their money
Marketing
A form of communication between businesses and customers which relays a message promoting services and/or goods
Non-Profit
A type of business that has no owner and does not pay federal U.S. taxes.
Patent
A legal method used to protect an invention for a limited time.
Primary Data
First-Hand research like surveys, interviews, and statistical data.
Lean Canvas
A one-page document discussing key information commonly seen in a business plan.
Marketing Plan
A written that outlines a company's marketing strategies
The way one approaches new ideas and ventures in their life.
Pitch Deck
A presentation given to potential investors to provide a brief overview of the business plan to earn another meeting.
Revenue
The number of sales and other income in a business for a given period.
Liability
The amount of money owed to an entity.
Product/Market Fit
The stages where a business's sales are high and continue to grow because their product or service is something customers want and continue to purchase.
Partnership
Two or more individuals that share's a businesses financial responsibility.
Limited Liability Company (LLC)
A business with pass-through taxation where owners pay taxes on the company's profits and losses through their personal taxes.
Product
A tangible Item
Profit
The amount of Financial gain from a business
Minimum Viable Product (MVP)
An inexpensive preliminary product to test the product idea.
Price
The amount of money charged for goods or services
Piece Work