vocabulary part 2 Flashcards
AN internet phenomenon, where strangers learn about a business online and then decide whether or not to make an investment. Crowdfunding investors are typically “fans” of an owner, but they do expect a return on 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
distinguishing a product or service “different than anything else” “attracting customers, generating sales and serving as the foundation for a thriving business.
Differentiated offering
money paid be a company to a person who owns stock in that company. Dividends are optional- many companies do not pay dividends. Dividends are typically paid every three months.
Dividend
a clear, concise and compelling way to describe a business or new business concept in 30 seconds: a different vision to encourage potential investors or employees to learn more.
Elevation speech
Open ended questions that prompt more than a “yes” or “no” answer.
Engaging Question
funds contributed by investors to a business. Investors contribute capital to a business because they expect a significant return to their investment when the business succeeds.
Equity
understanding how individuals and businesses earn money and what they spend money on.
Finical literacy
the 12-month period a company uses to report financial results. A fiscal year can be the same as a calendar year or it can be any 12-month period that makes sense.
Fiscal year
cost that do not vary based on the units sold by the enterprise
Fixed cost
a computer portal offered by the Louisiana Secretary 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, and to determine which other government agencies they may need to interact with.
GEAUX BIZ PORTAL
an individual’s self-commitment to overcome obstacles to achieve a long-term goal. The ability to keep pursing your dream despite challenges and defeats.
Grit
a credit-worthy individual or business with sufficient liquidity 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 taxed-deferred until they withdraw them after they retire. Advantages- they are no annual income tax on and dividends or profitable sales that an IRA makes. They money remains in the account and only get taxed when the individuals retire. If an individual withdraws money from the IRA before he/she retires they are forced to pay the IRS significant penalties for early withdrawal.
Individual Retirement Account
Debt owed to someone that is paid monthly.
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 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
the federal agency that collects federal taxes and performs audits.
internal revenue service
the merchandise that a company sells that customers.
inventory
a legal decision requiring a person or company to pay another person or company
judgement
