2 Flashcards
an internet phenomenon where strangers learn about a business online and then decide whether or not to make an investment
crowdfunding
the amount an insurance company makes a policyholder pay as part of any claim
deductible
failure to repay a loan
default
the commitment to get something done
determination
offering distinguishing a product or service different than anything else attracting customers generating sales and serving as the foundation for a thriving business
differentiated
money paid by a company to a person who owns stock in that company
dividend
a clear concise and compelling way to describe a business or new business concept in 30 seconds a differentiating vision to encourage potential investors or employees to learn more
elevator speech
open ended questions that promote more than a yes or no answer
engaging questions
or capital funds contributed by investors to a business investors contribute capital to a business because they expect a significant return on their investment when the business succeeds
equality
understanding how individuals and business earn money and what they spend money on
financial literacy
the 12-month period a company uses to report financial results a financial year can be the same as a calendar year or it can be any 12-month period that makes sense
fiscal year
costs that don’t very based on the units sold by the enterprise
fixed cost
a computer portal offered by the Louisiana secretary of state that enables entrepreneurs to go to a single source to learn which forms they need to file the forms required by the secretary of state to determine which other government agencies they may need to interact with
Geaux BIZ portal
an individuals self-commitment to overcome obstacles to achieve long term goals
Grit
a credit worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debt holder cant make a required payment
Guarantor
a special account where individuals can deposit requirement funds that can grow tax-deferred until they withdraw them after they retire
individual retirement account (IRA)
debt owed to someone that is paid monthly
Installment payment
the amount an insurance policyholder receives from the insurance company to reimburse the policy holder for a covered loss
Insurance claim
the individual or business that purchases an insurance policy for various types of protection
Insurance policyholder
the amount a policyholder pays for an insurance policy
Insurance premium
non-physical assets created by individuals or companies that hold the exclusive legal right to commercialize
Intellectual property
give the author the sole right to benefit economically from what he/she wrote.
Copyright
gives the inventor the sole right to benefit commercially from his/her invention
Patent
gives the registering individual or company the sole right to benefit from a brand or image he/she created
Trademark
