Ch 5 Small Business Entry: Paths to Part-Time Entrepreneurship

Tweet

A 140-character or less message sent using the Twitter Web service.

Blog

A Web page in which entries are posted in reverse chronological order

Equity

Ownership of a portion of a business.

Conflict of Interest

A situation in which a person faces two or more competing standards or goals.

Business-to-Business (B-2-B)

Business-to-business transactions using e-commerce.

Sponsored Link

A form of paid advertising that gets your company's Web site at the top of a search list.

Reciprocal Links

A listed, live connection to a different Web site, which in turn displays a similar link to the first Web site.

Bootstrapping

Using low-cost or free techniques to minimize your cost of doing business.

Network Marketing

(aka Multilevel Marketing/MLM) An approach to selling in which the salesperson recruits customers to become distributors of tHe product or service to others.

Search Engine Optimization (SEO)

A general approach to Web site design intended to result in the site being displayed toward the beginning of a search engine's listing for that term.

Reverse Price

A minimum acceptable selling price in an auction. If the bidding does not exceed the price, the sale will not go through.

Consumer

A private individual or household that is the end-user of a product or service.

Aggrandizing

Attempting to make your business or yourself seem more accomplished or grander than reality.

E-Commerce

The use of the internet to conduct business transactions.

Business-to-Consumer (B-2-C)

Business-to-consumer transactions using e-commerce.

Reverse Auction

An auction in which the low bid get the business or wins.

RSS Feed

An internet messaging service that pushes (sends) whatever Web material you specify to subscribers to that feed.

Informational Web sites

An internet site designed to introduce and explain a business to others.

Outsourcing

Contracting with people or companies outside your business to do work for your business.

Poisoning the Well

Creating a negative impression among your employers' customers.

Licensing

Documented permission from the government to run your business.

Zoning Laws

Government specifications for acceptable use of land and buildings in particular areas.

Time to Start-Up

How long it takes to start anew business.

Registration

Information provided to the government concerning the existence of, name of, and contact information for your business.

Undercapitalization

Not having enough money available to the business to cover shortfalls in sales or profits.

Variance

Permission from a government organization to act differently that the laws state.

Intellectual Property (IP)

Property coming from some sort of original thought, for example, patents, trade secrets, trademarks, and copyrights.

Cannibalizing

Taking business away from your employer.

Cost to Start-Up

The amount of money it takes to start a new business.

Delegation

The assignment of work to others over whom you have power.

Volatility

The frequency of business starts and stops.

Permanence

The impression of long-term continuity a business gives others.

Covenants

The limitations imposed on your property by your neighborhood group.

Multichannel Marketing

The use of several different channels to reach your customers, for example, a Web site, direct mail, and traditional retailing.

Part-Time Self-Employment

Working for yourself for 35 or fewer hours a week.

Full-Time Self-Employment

Working for yourself for more than 35 hours a week.

Moonlighting

Working on your own part time after your regular job.