business ch 5 and 6
start-up
new business started from scratch
founders
people who create or start new businesses
Variance
permission from a government organization to act differently than the laws state
informational website
an internet site designed to introduce and explain a business to others
accelerator
an organization that supports start-up technology businesses by providing inexpensive office space, a variety of support services, and resources; most accelerators are associated with universities
e-commerce
general term for conducting business on the internet
zoning laws
government specifications for acceptable use of land and buildings in particular areas
full-time employment
more than 35 hours of work per week
Hybrid entrepreneurship
the process of initiating a business while simultaneously remaining employed for wages or salary
Bootstrapping
using low-cost or free techniques to minimize your cost of doing business
Effectual Reasoning
A logical process in which one analyzes the resources available and restraints on the use of resources to create an attainable goal.
part-time employment
35 hours or less per week
Part-time business
A business in which the owner either participates fewer than 35 hours per week or operates on a temporary or seasonal basis while maintaining employment elsewhere for wages or salary.
minimum viable product
A concept central to lean business practices where you make a minimum product, but one that can be sold. By selling to customers and collecting feedback, an entrepreneur can develop a product at minimum cost.
Pop-up business
A temporary business that offers services or products in a variety of locations for a brief period at a time.
episodic business
A temporary, project-based, or sporadically operating business.
Lean Business Practices
An application created by Eric Ries that addresses the specifics of new business creation, particularly Internet-based businesses, where rapid experimentation and constant monitoring of viewers' choices are possible.
Business-to-consumer (B2C)
E-commerce transactions between businesses and consumers.
Business-to-business (B2B)
E-commerce transactions between businesses.
tweet
a 140-character or less message sent using the Twitter web service
RSS feed
An internet messaging service that pushes (sends) whatever web material you specify to subscribers to that feed
strategic partnerships
Formal or informal relationships with customers, vendors, or mentors to ensure the success of an entrepreneurial venture.
Bricolage
Refers to the process of analyzing the resources available and creating a product or service from them.
Affordable loss
The minimum possible expenditure of capital and other resources in order to bring an entrepreneurial idea to market.
Leveraging contingencies
The practice of and ability to seize upon novel opportunities that become apparent during the conduct of business.
Casual (predictive) reasoning
The process of setting a goal and then determining the strategy and resources required to attain the goal.
revolving credit
a credit agreement that allows the borrower to pay all or part of the balance at any time; as the loan balance is paid off, it becomes available to be borrowed again
Consumer
a private individual or household that is the end user of a product or service
blog
a web page in which entries are posted in reverse chronological order
asset
something the business owns that is expected to have economic value
Volatility
the frequency of business starts and stops
Covenant
the limitations imposed on an individual's property by the neighborhood group