Entrepreneurial - Chapter 5
cost to start-up
the amount of money it takes to start a new business
volatility
the frequency of business starts and stops
business-to-business
Business-to-business transactions using e-commerce
bootstrapping
Using low cost or free techniques to minimize your cost of doing business
business-to-consumer
Business to consumer transactions using e-commerce
time to start-up
How long it takes to start a new business
covenants
The limitations imposed on your property by your neighborhood group
e-commerce
The use of internet to conduct business transactions
multichannel marketing
The use of several different channels to reach your customers for example a website direct mail and traditional retailing
outsourcing
Contracting with people or companies outside your business to do work for your business
poisoning the well
Creating a negative impression amongst your employers' customers
licensing
Documented permission from the government to run your business
reciprocal links
Elicited live connection to a different website which in turn displays a similar link to the first website
zoning laws
Government specifications for acceptable use of land and buildings in particular areas
sponsored link
A form of paid advertising that gets your company's website at the top of a search list
search engine optimization
A general approach to website design intended to result in the site being displayed toward the beginning of a search engine's listing for that term
reserve price
A minimum acceptable selling price in an auction. if the building 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
conflict of interest
A situation in which a person faces two or more competing standards or goals
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 a business or yourself seem more accomplished or grander than reality
registration
Information provided to the government concerning the existence of name of nature of and contact information for 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 differently that the laws state
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
delegation
The assignment of work to others over whom you have power
permanence
The impression of long-term continuity a business gives others
moonlighting
Working on your own part time after your regular job