Chapter 5
delegation
assignment of work to others over whom you have power
sponsored link
form of paid advertising that gets your company's web site at the top of a search list.
reserve price
minimum acceptable selling price
equity
ownership of a portion of a business
variance
permission from a government organization to act differently that the laws state
consumer
private individual or household that is the end-user of a product or service
entry wedge
an opportunity that makes it possible for a new business to gain a foothold in a market
network marketing
approach to selling in which the salesperson recruits customers to become distributors of the product or service
cannibalizing
taking business away from your employer
permanence
the impression of long-term continuity a business gives others
aggrandizing
attempting to make your business or yourself seem more accomplished or grander than reality
reverse auction
auction in which the low bid gets the business or wins
poisoning the well
creating a negative impression among your employer's customers
zoning laws
government specifications for acceptable use of land and buildings in particular areas
registration
information provided to the government concerning the existence of, name of, nature of, and contact information for your business
covenants
limitations imposed on your property by your neighborhood group
multichannel marketing
use of several different channels to reach your customers, for example, a web site, direct mail, and traditional retailing
bootstrapping
using low-cost or free techniques to minimize your cost of doing business
part time self employment
working for yourself for 35 or fewer hours a week
full time self employment
working for yourself for over 35 hours a week
moonlighting
working on your own part time after your regular job
reciprocal links
live connection to a different web site, which in turn displays a similar link to the first website
undercapitalization
not having enough money available to the business to cover shortfalls in sales or profits
RSS feed
internet messaging service that sends whatever web material you specify to subscribers to that feed