Vocab 1
Cost incurred by a business.
Acquisition Costs
an independent government agency specializing in providing small businesses with assistance to get their business up and running.
SBA SMALL BUSINESS ADMINISTRATION
The price a company charges for its product or service. The selling price is determined by adding the cost price and the profit margin the company wants to earn.
Selling price
The number of sales and other income in a business for a given period.
Revenue
A practice used to protect brand names, logos, and business names.
Trademark
A planning tool used to document a company's strengths, weaknesses, opportunities, and threats.
SWOT analysis
An individual who aspires to start and run a successful business.
Entrepreneur
A calculation used to make projections about a company's future performance.
Run Rate
A preliminary product, commonly a product with minimum viability, from which to test and develop.
Prototype
The group of customers a company chooses to market its products and services.
Target Market
An individual with an interest in a business.
Stake Holder
A persuasive speech prepared to entice a potential customer to purchase a service or good.
Sales Pitch
The possibility of something negative happening. In the context of a small business, the possibility of a loss of time and money.
Risk
is a calculation used to determine how much an investment is making.
ROI Return of Investment
An individual that owns at least one share in a corporation's stock.
Stock Holder
Non-cash compensations offered to employees in place of or in addition to a lower salary.
Equity
An investor who provides funding to a business for a stake in the business in return.
ANGEL INVESTOR
The point where a business's revenue matches its expenses over a given period.
Break EVEN point
The amount of financial gain from a business.
Profit
Data that may contain personal bias like company newsletters and academic journals.
Secondary Data
A fixed payment amount provided to a full-time employee.
Salary
A document that compares assets to liabilities plus owner's equity.
Balance Sheet
A type of business structure with a special tax advantage that allows the company to pass its income, losses, deductions, and credits through its shareholders.
S corporation
The total cost of acquiring a new customer.
Customer Acquisition Cost
If a business wants to reduce cost and serve customers directly , which distribution channels should they use? which eliminates the middle man and has less mark up cost?
Direct to Consumer