Fill-In The Blanks
[Blank] employees are paid a fixed amount each pay period.
Salary
Shared financial backing.
Partnership
Someone that Creates a company.
Founder
Someone hired by a company and compensated for their work.
Employee
I am promised before you begin, but I am only delivered after you perform. I can be frozen without any ice, and I can be capped without wearing a hat. What am I?
Salary
The key objective of a small business owner is to generate [Blank].
Profits
A business structure with No ownership, no US federal taxes.
Non-Profit
The one who Owns stock in the company
Stockholder
A fee paid to an employee for completing a task.
Commission
I am the anchor of the world’s most famous soda and the lock on a legendary recipe. I have no official expiration date, yet I can die in a single second if a employee speaks too freely. I am never registered with the government, because bringing me into the light would instantly kill my power.
Trade Secret
The five elements of the design thinking process are: empathize, define, ideate, [Blank], and test.
Prototype
Ideal for a single owner seeking low risk.
Limited Liability Company or LLC
Someone who has a vested interest in the success of the company
Stakeholder
A monetary amount given to employees in return for their work.
Compensation
Talent creates my prototype, and intelligence writes my business plan. But without me, both will gather dust in an attic. I am not a skill you can learn, nor can you buy me. I am the willingness to get punched in the face by the market on Monday, and show up smiling on Tuesday.
Founder
The [Blank] oversees daily operational and administrative functions.
Chief Operating Officer or COO
Lower tax rate that prevents the company from being double-taxed.
S-Corporation
The one who Oversees daily operational and administrative functions.
Chief Operating Officer or COO
Non-cash compensations offered to employees in place of or in addition to a lower salary.
Equity
The design team creates multiple inexpensive versions of a product, known as [Blank].
Minimum Viable Product or MVP.
Easy to create but comes with unlimited liability.
Sole proprietorship
The one who Oversees the company finances.
Chief Financial Officer or CFO
A payment amount provided to employees for the number of hours they worked.
Hourly Pay