Chapter 5
Sponsored Link
A form of paid advertising that gets your company's website at the top of a search list
Reciprocal Links
A listed, live connection to a diffferent web site, which in turn displays a similar link to the first website
Reverse Price
A minimum acceptable selling price in an auction. If the bidding does not exceed the price, the sale will not go through
Conflict of interest
A situation in which a person faces two or more competing standards or goals
Blog
A web page in which entries are posted in reverse chronological order
Cost per start up
Amount of money it takes to start a new business
Network Marketing
An approach to selling in which the salesperson recruits customers to become distributors of the product or service to others
Reverse auction
An auction in which the low bid gets the business or wins
Informational Websites
An internet site designed to introduce and explain a business to others
Aggrandizing
Attempting to make your business or yourself seem more accomplished or grander than reality
Busines to Business (B2B)
Business to business transactions using e-commerce
Business-to-consumer (B2C)
Business to consumer transactions using ecommerce
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
Undercapitalization
Not having enough money available to the business to cover shortfalls in sales or profits
Equity
Ownership of a portion of a business
Variance
Permission from a government organization to act differntly than the laws state
Consumer
Private individual or household that is the end user of a product or service
Intellectual Property
Property coming from some sort of original thought, for example patents, trade secrets, trademarks, and copyrights
Cannibalizing
Taking business away from your employer
SEO
General approach to web site design inteded to result in the site being displayed toward the beginning of a search engine that is listing them
Zoning Laws
Government specifications for acceptable use of land and buildings in particular areas
Time to start up
How long it takes to start a new business
Registration
Information provided to the governement concerning the existence of, name of, nature of, and contact information concerning your business
Delegation
The assignment of work to others over whom you have power
Volatility
The frequency of business starts and stops
Performance
The impression of long-term continuity a business gives others
Covenants
The limitations imposed on your property by your neighborhood group
Multi-channel marketing
The use of several different channels to reach your customers, for example a website direct mail or traditional marketing
E-commerce
The use of the internet to conduct business transactions
Bootstrapping
Using low-cost or free techniques to minimize your cost of doing business
Full time self employment
Working more than 35 hours a week. Majority of ones time is spent on the business
Moonlighting
Working on your own part time after your regular job
Part-time self employment
Works less than 35 hours a week at each business