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