Read Start Your Own Business Online
Authors: Inc The Staff of Entrepreneur Media
Start Your Own Business (118 page)
Optical drive:
various combinations of CD, DVD and Blue-ray optical drives come bundled with computers
various combinations of CD, DVD and Blue-ray optical drives come bundled with computers
Order cycle:
the time it takes to process paperwork and place orders with your vendors for inventory
the time it takes to process paperwork and place orders with your vendors for inventory
Outsourcing:
practice of sending certain job functions outside a company instead of having an in-house department or employee handle them; functions can be outsourced to a company or an individual
practice of sending certain job functions outside a company instead of having an in-house department or employee handle them; functions can be outsourced to a company or an individual
Owner’s equity:
excess of total assets minus total liabilities
excess of total assets minus total liabilities
Package policy:
insurance policy that combines several standard coverages, such as liability, burglary and vehicle, in one package
insurance policy that combines several standard coverages, such as liability, burglary and vehicle, in one package
Paid-in-capital:
the additional amount paid for common stock over and above the value upon issuance
the additional amount paid for common stock over and above the value upon issuance
Paid search services:
services that allow you to pay to have your website be part of the results of a user’s query on a search engine site; there are three types: paid submission, pay-for-inclusion and pay-for-placement
services that allow you to pay to have your website be part of the results of a user’s query on a search engine site; there are three types: paid submission, pay-for-inclusion and pay-for-placement
Partnership:
a business that’s unincorporated and organized by two or more individuals
a business that’s unincorporated and organized by two or more individuals
Perquisites:
a payment or profit received in addition to a regular wage or salary
a payment or profit received in addition to a regular wage or salary
Physiographics:
the physical conditions related to aging, such as arthritis or near-sightedness
the physical conditions related to aging, such as arthritis or near-sightedness
Pitch letter:
an introductory letter sent to members of the media in an effort to get publicity for a business; sometimes this is a cover letter accompanying a press release
an introductory letter sent to members of the media in an effort to get publicity for a business; sometimes this is a cover letter accompanying a press release
Plugins:
consists of a computer program that interacts with a host application (a web browser or an e-mail client, for example) to provide a certain, usually very specific, function “on demand”; also called add-in, add-on, snap-in, or extension
consists of a computer program that interacts with a host application (a web browser or an e-mail client, for example) to provide a certain, usually very specific, function “on demand”; also called add-in, add-on, snap-in, or extension
Point-of-sale (POS) software:
software that records information about inventory, sales and profits at the point of sale
software that records information about inventory, sales and profits at the point of sale
Positioning statement:
one- or two-sentence statement summarizing what differentiates your business from the competition
one- or two-sentence statement summarizing what differentiates your business from the competition
Preferred stock:
stock that pays a fixed dividend and is given preference ahead of common stockholders in the event of liquidation
stock that pays a fixed dividend and is given preference ahead of common stockholders in the event of liquidation
Premium:
any free giveaway to customers (also called ad specialties); common premiums include key chains, caps, T-shirts, pens and desk accessories
any free giveaway to customers (also called ad specialties); common premiums include key chains, caps, T-shirts, pens and desk accessories
Prepaid legal plan:
payment structure in which a client prepays a set monthly fee in return for a fixed amount of legal services per month (differs from monthly retainer in that services are more limited and relationship is not with one law firm, but with a prepaid legal service firm, which has relationships with many law firms)
payment structure in which a client prepays a set monthly fee in return for a fixed amount of legal services per month (differs from monthly retainer in that services are more limited and relationship is not with one law firm, but with a prepaid legal service firm, which has relationships with many law firms)
Press kit:
packet (typically a folder) containing a cover letter, a press release, photos and additional information about a business; sent to members of the media to get publicity for the business
packet (typically a folder) containing a cover letter, a press release, photos and additional information about a business; sent to members of the media to get publicity for the business
Press release:
standard written notice sent to the media in an effort to get publicity for your business
standard written notice sent to the media in an effort to get publicity for your business
Price comparison website:
an online service that lets you compare multiple e-tailers and their product pricing; also displays consumer satisfaction scores or rankings so you can easily determine if an online company is reputable
an online service that lets you compare multiple e-tailers and their product pricing; also displays consumer satisfaction scores or rankings so you can easily determine if an online company is reputable
Primary research:
information you gain directly from the source, such as potential consumers
information you gain directly from the source, such as potential consumers
Private-label credit card:
a credit card a merchant issues with his or her business’s name on it
a credit card a merchant issues with his or her business’s name on it
Promissory note:
details the principal and interest owed on a loan and when they are due; it also outlines the events that would allow the bank to declare your loan in default
details the principal and interest owed on a loan and when they are due; it also outlines the events that would allow the bank to declare your loan in default
Property/casualty coverage:
protects physical property and equipment of the business against loss from theft, fire or other perils; all-risk coverage covers against all risks; named-peril coverage covers only against specific perils named in the policy
protects physical property and equipment of the business against loss from theft, fire or other perils; all-risk coverage covers against all risks; named-peril coverage covers only against specific perils named in the policy
Push e-mail:
an instant receipt capability for mobile workers that “pushes” e-mail to an appropriate handheld device, such as a BlackBerry, as soon as a message lands on the server back at the office
an instant receipt capability for mobile workers that “pushes” e-mail to an appropriate handheld device, such as a BlackBerry, as soon as a message lands on the server back at the office
Pyramid scheme:
an illegal type of network marketing in which participants receive revenues primarily for recruiting others rather than for selling the company’s products or services
an illegal type of network marketing in which participants receive revenues primarily for recruiting others rather than for selling the company’s products or services
Qualified retirement plan:
a plan that meets requirements of the Internal Revenue Code and, as a result, is eligible to receive certain tax benefits
a plan that meets requirements of the Internal Revenue Code and, as a result, is eligible to receive certain tax benefits
RAM:
considerably slower and cheaper than cache, RAM is the bucket your computer’s processor uses to hold vast amounts of data and program instructions while it works
considerably slower and cheaper than cache, RAM is the bucket your computer’s processor uses to hold vast amounts of data and program instructions while it works
Ratio analysis:
the use of certain financial ratios to compare the performance of a business with years past and with industry peers
the use of certain financial ratios to compare the performance of a business with years past and with industry peers
Replacement cost insurance:
covers cost of replacing property at current prices
covers cost of replacing property at current prices
Rent abatement:
a concession offered by a landlord as an inducement to tenants to lease office space; provides for a reduction of monthly rent by omitting a required payment for a specific number of months
a concession offered by a landlord as an inducement to tenants to lease office space; provides for a reduction of monthly rent by omitting a required payment for a specific number of months
Retained earnings:
the cumulative amount of after-tax earnings less dividends paid that the owner draws over the life of a business
the cumulative amount of after-tax earnings less dividends paid that the owner draws over the life of a business
Safelist:
a form of e-mail marketing and advertising where the members have agreed to receive each other’s messages
a form of e-mail marketing and advertising where the members have agreed to receive each other’s messages
Sales:
the gross amount of revenue generated by a business
the gross amount of revenue generated by a business
S corporation:
a type of corporation that provides its owners with tax treatment that is similar to a partnership
a type of corporation that provides its owners with tax treatment that is similar to a partnership
Script:
hard copy of a website’s contents that contains all text and graphics in sequential order, from the home page to the last page
hard copy of a website’s contents that contains all text and graphics in sequential order, from the home page to the last page
Sealer:
part of a postage meter’s base that seals mail
part of a postage meter’s base that seals mail
Search engine:
a navigational tool that lets web users type in a word or phrase to get multiple listings of sites containing that word or phrase
a navigational tool that lets web users type in a word or phrase to get multiple listings of sites containing that word or phrase
Secondary research:
information that has already been gathered by other agencies or organizations and compiled into statistics, reports or studies
information that has already been gathered by other agencies or organizations and compiled into statistics, reports or studies
Self-employment tax:
tax paid by a self-employed person to help finance Social Security and Medicare
tax paid by a self-employed person to help finance Social Security and Medicare
Sensitivity analysis:
the process of changing financial variables in a financial budget to determine their potential impact on the company’s future performance
the process of changing financial variables in a financial budget to determine their potential impact on the company’s future performance
Server:
a host computer;
see
web host
a host computer;
see
web host
Shopping cart program:
software that allows the processing of online sales transactions
software that allows the processing of online sales transactions
Slitter:
type of letter-opening machine that slits the seam of the envelope
type of letter-opening machine that slits the seam of the envelope
Smart phone:
a handheld cell phone that integrates the functionality of a basic cell phone with that of a personal digital assistant (PDA) or other information device; used for voice calls as well as for wireless internet applications, such as surfing the web and e-mail; can also handle applications, such as contact management and scheduling
a handheld cell phone that integrates the functionality of a basic cell phone with that of a personal digital assistant (PDA) or other information device; used for voice calls as well as for wireless internet applications, such as surfing the web and e-mail; can also handle applications, such as contact management and scheduling
Sole proprietorship:
a business organization that is unincorporated and has only one owner
a business organization that is unincorporated and has only one owner
Stacker:
part of a postage meter’s base that stacks mail
part of a postage meter’s base that stacks mail
Stock acquisition:
a method of buying a business in which the buyer purchases the actual stock of the business
a method of buying a business in which the buyer purchases the actual stock of the business
Target market:
the specific group of consumers or businesses you want to sell to
the specific group of consumers or businesses you want to sell to
Temporary help company:
company that recruits employees to work for client companies on a temporary basis
company that recruits employees to work for client companies on a temporary basis
Tenant construction work letter:
an addendum or attachment to the lease document that details the responsibilities of both the tenant and the landlord as they relate to the construction of the tenant’s office space
an addendum or attachment to the lease document that details the responsibilities of both the tenant and the landlord as they relate to the construction of the tenant’s office space
Tenant improvements:
the construction, fixtures, physical changes and additions made to an office space for the benefit of the tenant by the tenant (usually with the landlord’s permission) or on the tenant’s behalf by the landlord or a representative (subcontractor)
the construction, fixtures, physical changes and additions made to an office space for the benefit of the tenant by the tenant (usually with the landlord’s permission) or on the tenant’s behalf by the landlord or a representative (subcontractor)
Total counter:
feature on a letter-folding machine that tells you how many sheets have been folded
feature on a letter-folding machine that tells you how many sheets have been folded
Trade credit:
billing a business for products with a grace period (typically 30 days) before payment is due
billing a business for products with a grace period (typically 30 days) before payment is due
Trade-out:
term used in the radio industry to refer to bartering products or services for airtime
term used in the radio industry to refer to bartering products or services for airtime
Turnover:
turning over your inventory means that 100 percent of original inventory has been sold
turning over your inventory means that 100 percent of original inventory has been sold
Twitter:
a mini blog that streams people’s posts in real-time; main focus of the site is it allows people to share and discover information that’s happening now; your posts can spread across the globe to millions, immediately
a mini blog that streams people’s posts in real-time; main focus of the site is it allows people to share and discover information that’s happening now; your posts can spread across the globe to millions, immediately
Umbrella coverage:
protects you for payments in excess of your existing coverage or for liabilities not covered in your other policies
protects you for payments in excess of your existing coverage or for liabilities not covered in your other policies
Unique selling proposition:
what differentiates your product or service from others of a similar type; what makes it unique
what differentiates your product or service from others of a similar type; what makes it unique
Unit-control system:
system of inventory tracking in which bin tickets are kept with each product type, listing stock number, description, maximum and minimum quantities stocked, cost (in code) and selling price; these tickets correspond to office file cards that list a stock number, selling price, cost, number of items to a case, supply source, order dates, quantities and delivery time
system of inventory tracking in which bin tickets are kept with each product type, listing stock number, description, maximum and minimum quantities stocked, cost (in code) and selling price; these tickets correspond to office file cards that list a stock number, selling price, cost, number of items to a case, supply source, order dates, quantities and delivery time
URL (universal resource locator):
the accepted convention for specifying web addresses (domain names)
the accepted convention for specifying web addresses (domain names)
Vacuum feeder:
feature on a letter-folding machine that pulls sheets through using air suction; good for coated and glossy paper stock
feature on a letter-folding machine that pulls sheets through using air suction; good for coated and glossy paper stock
Venture capital:
generally refers to institutional venture capital firms that invest other people’s money and manage it for them; venture capitalists typically seek a high degree of involvement and expect a high rate of return in a short time; venture capitalists look for an idea that is well-formulated, well-documented and well-protected
generally refers to institutional venture capital firms that invest other people’s money and manage it for them; venture capitalists typically seek a high degree of involvement and expect a high rate of return in a short time; venture capitalists look for an idea that is well-formulated, well-documented and well-protected
VoIP (voice over internet protocol):
sends voice conversations over the internet using a packet-based outline as opposed to the analog circuit-switched technology used in PSTN (public-switched telephone network)
sends voice conversations over the internet using a packet-based outline as opposed to the analog circuit-switched technology used in PSTN (public-switched telephone network)
Voting stock: see
common stock
common stock
Waiver:
form that typically accompanies or is part of an employment application; when signed by applicant, it authorizes former employers or schools to release information about the applicant
form that typically accompanies or is part of an employment application; when signed by applicant, it authorizes former employers or schools to release information about the applicant
Web host:
any computer that’s dedicated (always connected) to the internet and has access to the web
any computer that’s dedicated (always connected) to the internet and has access to the web
Widgets:
a portable chunk of web code that can be installed and inserted into your website or blog, often taking the form of on-screen tools, such as clocks, event countdowns, stock market tickers, social site feeds, flight arrival information, daily weather, etc.
a portable chunk of web code that can be installed and inserted into your website or blog, often taking the form of on-screen tools, such as clocks, event countdowns, stock market tickers, social site feeds, flight arrival information, daily weather, etc.
Workers’ compensation insurance:
covers medical and rehabilitation costs and lost wages for employees injured at work; required by law in all states
covers medical and rehabilitation costs and lost wages for employees injured at work; required by law in all states
INDEX
ABC analysis
accountants
choosing
services provided by
value of hiring
accounting.
See also
See also
financial management
accounting systems
automated systems for
basic elements of
cost accounting
financial statements and.
See
financial statements
See
financial statements
internal-control systems
overview
principles of
record-keeping
software for
accounts payable
accounts receivable
accounts receivable loans
accrual basis
acquiring banks
activity ratios
advertising.
See also
See also
marketing; public relations
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