Business Structures
This type of business structure offers personal liability protection
LLC (Limited Liability Corporation)
Also known as CAC, this is the expense of gaining a new customer
What is customer acquisition cost (CAC)?
An evaluation of strengths, weaknesses, opportunities, and threats
What is a SWOT analysis?
This financial statement shows a company's revenues and expenses over a specific period
What is an income statement?
This involves dividing potential customers into groups based on shared characteristics
What is market segmentation?
This advantage is a unique benefit that allows a business to outperform competitors
What is competitive advantage?
This performance metric evaluates the profitability of an investment
What is ROI (Return on Investment)?
Creations of the mind that have commercial value
What is intellectual property?
This is a summary of financial transactions in a bank account
What is a bank statement?
This involves low-cost, unconventional marketing tactics
What is guerrilla marketing?
This funding source typically takes an ownership stake in a business
What are venture capitalists?
The movement of money in and out of a business
What is cash flow?
The first version of a product with enough features to attract early customers
What is a minimum viable product (MVP)?
This financial statement shows the inflow and outflow of cash
What is cash flow statement?
This is a statement that explains why customers should buy your product
What is a value proposition?
This term (associated with footwear) means to start a business with personal savings and revenue
What is bootstrapping?
This is the initial capital used to start a business
What is seed funding?
This is an organization that helps new startups develop
What is a business incubator?
This financial statement summarizes a company's assets, liabilities, and shareholders' equity
What is a balance sheet?
This is your business's distinct competitive advantage
What is a unique selling proposition (USP)?
The potential for a business to grow without being hampered by its structure
What is scalability in business?
This point occurs when total revenue equals total costs.
What is break-even point?
This plan is a roadmap that outlines how a business will achieve its goals
What is a business plan?
This financial report that summarizes revenues, costs, and expenses during a specific period
What is a profit and Loss Statement (P&L)?
This is a template for developing new business models
What is Business Model Canvas?