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