final esb words

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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


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