final esb words
transaction
A business deal, or the instance of purchasing a service or goods
Seperation of Duties
A business practice which refers to the roles individuals have inside of a company. Under this business practice, not every employee is expected to perform every responsibility in the company. Each individual is in charge of a specific job
zoning variance
A certificate which allows someone to use a building for a different purpose than its original zone designation, such as in the case of using a building in a residential zone for a business
sales meeting
A conversation between a professional and a potential customer between their initial contact and the final sale
statement of cash flows
A financial document which analyzes incoming and outgoing cash for a time period
sales returns
A loss on sales due to product returns, canceled services, or other given credits
sales pitch
A persuasive speech prepared by a professional used to entice potential customers to purchase a service or goods
sales call
A phone call made by a business representative to potential customers in order to sell a service or goods
value proposition
A reason for gaining investments and/or customers for a business
tax implications
A term which refers to what taxes a corporation may or may not have to pay based on its corporate structure
self assessment
A tool used to assess strengths, weaknesses, and risk tolerance of a potential entrepreneur
slef reliant
A trait in which an entrepreneur consistently believes in the dream of owning a business. Sometimes the entrepreneur is alone in this thought
sole proprietorship
A type of business with a single owner. The business is not shielded from any amount of liability
trademark
A type of intellectual property protection which is used to protect a symbol, word, or group of words used to represent a company or product
trade show
An industry-specific gathering of entrepreneurs that presents marketing and networking opportunities
Simple interest
An interest calculation to where the interest percentage is only applied once on a loan.
variable costs
Costs incurred by a business that tend to fluctuate each time they are incurred
royalty fees
Fees paid for the use of a brand name or image
s coorporation
Like a C Corporation, an S Corporation is good for international business. It is taxed at a lower rate than that of a C Corporation
segmentation methods
Methods used to target potential customers. This can include behavioral, demographic, geographic, and psychographic methods
score
Previously known as the Service Corps of Retired Executives, but now known as Counselors to America's Small Business, an agency which provides mentoring and counseling to current and potential business owners
taxes
Surcharges on purchased goods and/or income that become liabilities to local, state, or federal agencies
sba
The Small Business Administration (SBA) specializes in getting small business owners help to get their businesses up and running.
revenue
The amount of sales and other income in a business for a given time period.
value acheivement
The desire to succeed and achieve over the desire for money
referral
The encouragement from a satisfied customer to potential customers to use a particular business' services or goods
risk tolerance
The level of willingness to lose time and money when starting a business
supply chain
The line of communication and resources a company has with their manufacturers or other business partners
risk
The possibility of something negative happening. In the context of a small business, the possibility of loss of time and money
startup capital
The total amount of money needed to start a business
social media
Websites that allow users to create and share content with other users, including advertisements
profit
the amount of financial gain from a business. this is calculated through subtracting all expenses (including taxes) from net sales