ME State Module 1 Vocabulary Set 1

Attracts customers and generates sales that is different from other businesses

• Differentiated Offering

• Accounting Offering

• Accounting system

The intended group of customers you want to serve

• target market

• demographic market

• marketing group

One page financial projection that list your major revenue sources and expenses

• Pro Forma

• Net Income

• Income Statement

How you intend to communicate to large numbers of customers, motivating them to learn more about your business

• Marketing strategies

• Advertising strategies

• Commercials strategies

• Selling strategies

How you move specific customers to buy from you.

• Marketing strategies

• Selling strategies

• Accounting strategies

Detailed to do list of steps you'll need to take a to go from concept and funding all the way to business launch

• Launch plan

• Launch point

• Accounting system

Software program to track financial information like budgets, expenditures, invoicing and payroll

• Software

• Accounting software

• Budgeting software

The amount of money earned from the sale of products/services.

• Expenses

• Revenue

• Cost of Goods Sold

Money paid by an employer to an employee for work done during a period of time

• Retail cost

• Personnel cost

• Cost of goods

The outflow of money to another person or group to pay for an item or service.

• Revenue

• Expenses

• Cost of Goods