Vocab 2 Flashcards
Crowd funding
an internet phenomenon, where strangers decide whether or not to make an investment towards a business online.
Deductible
the amount an insurance company makes a policyholder pay as part of any claim
Default
failure to repay a loan
Determination
the commitment to get something done
Differentiated offering
Distinguishing a product or service “different than something else” attracting customers, generating sales and serving as the foundation for a thriving business
Dividend
money paid by a company to a person who owns stocks in that company
Elevator speech
a clear, concise and compelling way to describe a business or new business concept in 30 seconds
Engaging question
open ended questions that prompt more than a “yes” or a “no”
Fixed coats
costs that do not vary based on the units sold
Geaux BIZ Portal
a computer portal offered by Louisiana Secretary of State that enables entrepreneurs to go to a single source to learn
Grit
an individual’s self confidence
Guarantor
a credit worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debtholder can’t make a required payment.
IRA
a special account where individuals can deposit retirement funds that can grow tax deferred until they withdraw them after they retire
Installment payment
debt owed that is payed monthly
Insurance claim
the amount an insurance policyholders receive from the insurance company
