Entrepreneurial Small Business 5th Edition; Chapter 5
Maker
A modern term for an inventor, in particular, an inventor who uses modern techniques like 3-D software and 3-D printers or do-it-yourself electronics to create new items.
Pop-Up Business
A temporary business that offers services or products in a variety of locations for a brief period at a time. What characterizes a pop-up business from any other is its temporary nature.
Episodic Businesses
A temporary, project-based, or sporadically operating business.
Consumer
A private individual or household that is the end user of (the entity that "consumes") a product or service.
Venue
A place where something takes place. For example, a theater is the venue for a play; an arena is the venue for a football game.
Conflict of Interest
A situation in which a person faces two or more competing standards or goals.
Business-To-Consumer (B2C)
Business-to-consumer transactions using e-commerce.
Time To Start Up
How long it takes to start a new business.
Zoning Laws
Government specifications for acceptable use of land and buildings in particular areas.
Tweet
A 140-character-or-less message sent using the Twitter web service.
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.
Sponsored Link
A form of paid advertising that gets your company's website at the top of a search list.
Search Engine Optimization (SEO)
A general approach to website design intended to result in the site being displayed toward the beginning of a search engine's (e.g., Goggle, Yahoo!, etc.) listing for that term.
Reciprocal Links
A listed, live connection to a different website, which in turn displays a similar link to the first website.
Reserve Price
A minimum acceptable selling price in an auction. If the bidding does not exceed the price, the sale will not go through.
Blog
A web page in which entries are posted in reverse chronological order (i.e., the most recent at the top of the page).
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.
RSS Feed
An internet messaging service that pushes (sends) whatever web material you specify to subscribers to that feed.
Informational Website
An internet site designed to introduce and explain a business to others.
Business-To-Business (B2B)
Business-to-business transactions using e-commerce.
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.
Registration
Information provided to the government concerning the existence of, name of, nature of, and contact information for your business.
Variance
Permission from a government organization to act differently than 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 of 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.
Votality
The frequency of business starts and stops.
Permanence
The impression of long-term continuity a business gives others.
Covenant
The limitations imposed on an individual's property by the neighborhood group.
Hybrid Entrepreneurship
The process of initianting a business while simultaneously remaining employed for wages or salary.
Full-Time Employment
Working more than 35 hours a week.
Par-Time Employment
Working more than 35 hours a week.
Moonlighting
Working on your own part time after your regular job.
Multichannel Marketing
The use of several different channels to reach your customers; for example, a website, direct mail, and traditional retailing.
E-Commerce
The use of the internet to conduct business transactions.
Aggrandizing
Attempting to make your business or yourself seem more accomplished or grander than reality.
