Roles in a company
The person that creates the company
Founder
Set amount of pay in a given period
Salary
Shared financial backing
Partnership
an estimate of the potential financial losses a business might incur over a specific period.
loss projection
the initial expenses incurred to launch a new business, such as equipment, licenses, marketing, and legal fees.
start-up costs
someone who owns stock in the company
Stockholder
Set rate of pay for hours worked
Hourly
No ownership, no US federal taxes
Non-Profit
a detailed document that outlines a company's goals, strategies, target market, financial projections, and operational plans.
business plan
individuals who start and run their own businesses, taking on financial risks in the hope of making a profit.
Entrepreneurs
Oversees daily operational and administrative functions
COO
You get paid with a percentage of each item you sell
Commission
Best for international business even with being double-taxed
C-Corporation
a concise presentation used to communicate the key aspects of a business idea or startup to potential investors, partners, or stakeholders.
pitch deck
the process of obtaining official permission or approval from a regulatory authority to operate a business or use a particular product, service, or intellectual property.
licensing
The person that Reports to the board of directors and Oversees company finances.
CFO
When you paid with ownership of the company rather than money
Equity
Lower tax rate that prevents the company from being double-taxed
S-Corporation
A budget is a financial plan that outlines expected income and expenses over a specific period. Profit is the money a business earns after subtracting its expenses from its revenue.
budget and profit
an opportunity is a favorable situation or set of circumstances that allows an individual or company to start or expand a business.
business opportunity
The person leading and guiding the organization's overall strategy, operations, and performance, while also serving as the public face of the company.
CEO
a compensation method where employees are paid based on the quantity of units they produce or tasks they complete, rather than the time spent working.
Piece work
deal for a single owner seeking low risk
LLC
a one-page business plan template that helps startups quickly outline key aspects of their business model, including problems, solutions, key metrics, target customers, and revenue streams.
Lean canvas
the key elements that determine whether a business or project can succeed and sustain itself in the long term. These factors can include market demand, financial resources, competition, and the ability to meet legal and operational requirements.
viability factor