Familiarize yourself with Veteran-level financial literacy terminology! Can you complete the entire set?
1
A LLC is a business structure that protects owners from personal liability while providing flexibility
2
Digital marketing is a system where businesses reward partners for referring customers
3
A sales funnel is the process of guiding potential customers from awareness to purchase
4
Target audience is the process of gathering and analyzing data about competitors and industry trends
5
Equity financing is borrowing money, usually in the form of business loans, that must be repaid with interest
6
An exit strategy is a plan for how business owners will sell their stake or transition out of the company
7
Operating expenses are the costs necessary for running a business, such as rent, utilities, and payroll
8
Venture capital refers to investment funds provided by firms or individuals to high-growth startups in exchange fore equity
9
Cash flow refers to the movement of money in and out of a business
10
A business model is a written document outlining a company's goals, strategies, target market, financial projections, and operational plan
11
A value proposition is the unique benfit a product or service offers to customers, differentiating it from competitors
12
Accounts payable is the money owed to a business by customers for goods or services provided
13
A business plan is a framework that describes how a company creates, delivers, and captures value
14
Accounts receivable is money a business owes to suppliers and vendors
15
Scalability is a fundamental shift in a business strategy to better align with market needs
16
Conversion rate refers to the percentage of website visitors or leads who complete a desired action, such as making a purchase
17
Bootstrapping refers to funding a business using personal savings, revenue, or minimal external capital
18
Break-even point is the point where total revenue equals total expenses, meaning the business is neither making a profit nor a loss
19
Valuation is the process of determining how much a company or asset is worth
20
Leverage is borrowing more money to invest more money, hoping for higher returns
21
Contract law is the legal framework governing agreements between businesses, clients, or vendors
22
A trandmark is the process of creating a unique identity for a business through name, logo, messaging, and customer experience
23
A competitive advantage is a feature or capability that allows a business to outperform competitors
24
Branding is a symbol, logo, or name legally registered to protect a brand's identity
25
A pivot is the ability of a business to grow and handle increased demand without a proportional increase in costs
26
Market research is a specific group of consumers most likely to buy a company's product or service
27
A patent is a legal right granting the inventor exclusive ownership of a product or innovation
28
A negotiation is a strategic discussion between two parties to reach a mutually beneficial agreement
29
Revenue is a measure of profitability, calculated as (net profit/revenue) x 100
30
Debt financing is raising capital by selling shares of the business
31
A sole proprietorship is a legal business entity separate from its owners, offering lliability protection and tax benefits
32
A freemium model offers a basic version of a product for free while charging for premium features
33
A business license is a legal permit allowing a company to operate in a specific location
34
Crowdfunding is raising small amounts of money from many people, often through online platforms like Kickstarter or GoFundMe
35
A business credit score is a measure of a company's creditworthiness based on payment history, debt usage, and financial stability
36
Retention rate is the percentage of customers who continue to buy from a business over time
37
Affiliate marketing refers to the use of online chanels such as social media and emails to promote a business
38
Profit margin is the total income a business earns before expenses
39
A corporation is a business owned and operated by one person, with no legal distinction between the owner and the business
|
