Business Basics
This is something a business owns that has value, like cash, inventory, or equipment.
What is an asset?
These are the total costs of getting something, including price, shipping, and setup.
What are acquisition costs?
This type of investor uses their own money to help start a business.
What is an angel investor?
This is when customers can easily identify a company’s logo, colors, or products.
What is brand recognition?
This financial statement shows what a business owns and owes.
What is a balance sheet?
This financial plan shows how a business will spend and save its money.
What is a budget?
This shows how fast a company spends its money each month.
What is burn rate?
This refers to starting a business using your own money instead of outside funding.
What is bootstrapping?
A person who buys a business’s product or service.
Who is a customer?
This refers to transactions where one business sells to another business.
What is B2B?
This term describes a chance to start or grow a business.
What is a business opportunity?
This point is reached when revenue equals expenses.
What is the break-even point?
This involves raising small amounts of money from many people online.
What is crowdfunding?
This measures how much it costs to get one new customer.
What are customer acquisition costs?
This refers to businesses selling directly to individual consumers.
What is B2C?
This written document explains a business’s goals and how it will reach them.
What is a business plan?
This is the money or benefits someone receives for doing a job.
What is compensation?
This top executive makes major decisions and leads the company.
What is the CEO?
This refers to keeping customers coming back.
What is customer retention?
This executive manages a company's money and financial decisions.
Who is the CFO?
This legally binding agreement spells out rules between parties.
What is a contract?
This type of pay is earned for making a sale, usually a percentage.
What is commission?
This business structure protects owners but is taxed separately from them.
What is a C Corporation?
These statistics describe groups of people, like age or income.
What are demographics?
This executive oversees daily operations inside a company.
Who is the COO?