Seamus
A presentation given to potential investors to provide a brief overview of the business plan to earn another meeting.
Pitch Deck
The amount of money owed to an entity.
Liability
The amount of money charged for goods or services.
Price
The individuals that own the business.
Owner
A tangible item.
Product
A type of business that has no owner and does not pay federal US taxes.
Nonprofit
The expenses incurred for running day-to-day tasks in a business.
Operating Costs
The way one approaches new ideas and ventures in their life.
Opportunity Recognition
Two or more individuals that share a business's financial responsibility.
Partners
A new idea, product, or method.
Innovation
A form of communication between businesses and customers which relays a message promoting services and/or goods.
Marketing
A legal method used to protect an invention for a limited time.
Patent
One's ability to act to work toward achieving a goal.
Personal Agency
A type of compensation provided for the amount of work produced
Piece Work
A characteristic in which an individual acts to turn ideas into action.
Initiative
Goods a business owns with the purpose of selling
Inventory
A financial statement that details a business's revenue and expenses for a given period.
Income Statement
A creative work or invention to which an individual has been given rights.
"Intellectual Property"
The characteristic of being able to tackle goals with courage and perseverance.
Grit
A one-page document discussing key information commonly seen in a business plan.
Lean Canvas
A business that takes its name and characteristics from an existing business chain.
Franchise
a business with pass-through taxation where owners pay taxes on the company's profit and losses through their personal taxes
LLC or limited liability company
Thinking about and planning for the future.
"Forward-Thinking Mentality"
Standards of professional conduct professionals should uphold
Ethical Practices
An individual hired by a company and compensated for their work.
Employee