vocabulary 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 on 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
Distinguishing a product or serving “Different that anything else”
Differentiated offering
Money paid by a company to a person who owns stock in that company.
Divident
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 prompt more than a “yes” or “no” answer.
Engaging Question
Funds contributed by investors to a business.
Equity (or Capital)
Understanding how individuals and businesses earn money and what they spend money on.
Financial Literacy
The 12-month period a company uses to report financial results.
Fiscal Year
Costs that do not vary based on the units sold by the enterprise. Ex. a lease for a building-the cost of the lease does not change according to how many units of your product is sold.
Fixed Costs
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.
geauxBIZPortal
An individual’s self-commitment to overcome obstacles to achieve long-term goals.
Grit
A credit-worthy individual or business with sufficient liquidity that promise to repay a loan in the event that the debtholder can’t make a required payment.
Guarantor
A special account where individuals can deposit retirement 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. Ex. Your car or truck payment, your credit cards, and your mortgage are all paid in monthly installment payments.
Installment Payment
The amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss.
Insurance Claim
The individual or business that purchases on 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
The federal agency that collects federal takes and performs audits.
Internal Revenue Service (IRS)
The merchandise that a company sells to customers.
Inventory
A legal decision requiring a person or company to pay another person or company.
Judgement
