WorksheetsME State Module 1 Vocabulary Set 1
Total questions: 30
Worksheet time: 8hrs 30mins
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
The cost that it takes to produce a product or service. This includes materials and labor.
Revenue
Expenses
Cost of Goods
The amount of money spent to sell product or services. Includes advertising materials, promotions, public relations, and other expenses like salaries and travel.
Worker expenses
Marketing/Sales Cost
Cost of Goods sold
The value of funds in accounts or tangible machinery/production equipment
capital
accounts
revenue
The trust that allows one party to provide money or resources to another party where that the second party does not reimburse the first party immediately.
capital
credit
debt
A risky or daring journey or undertaking
venture
credit
seasonality
The annual cost to you for your insurance
deductible
premium
venture
The amount you will pay before the insurance company reimburses you for your loss.
premium
deductible
copay
Short, simple document that provides a clear summary of a proposed business venture
pro forma
business concept
Income statement
A concise, compelling description of the proposed venture. No time limit
elevator speech
vision description
seasonality
Person or entity that may be interested in providing capital for your business venture
vision description
prospective investor
stock holder
Product or services that experience regular and predictable changes that recur every calendar year
Calendar projections
Seasonality
Personnel projections
How your customers and competitors respond to your marketing and selling strategies
expansion markets
competitive reactions
expenditures
The action of spending funds
revenue
expenditures
variable cost
Cash in and out of the business over a period of time
Nadir
Cumulative cash flow
evocative
The rate at which the company is losing money.
Nadir
burn cash
IT
Cost that vary depending on the rise and fall of production
variable cost
material impact
sensitivity analysis
A work or investment that is the result of creativity
intellectual property
trademark
copyright
patent
A business started from scratch
acquisition
franchise
start up
venture
Money owed to a franchisor per contract agreements based on sales
premium
royalties
franchise fee
input
A new business lunched by two existing businesses
franchise
start up
acquisition
joint venture
