A business run entirely on the Internet. Typically, their website ends in ".com".

Person who works in a business owned by someone else.

Someone who creates and runs their own business.

To think or act like an entrepreneur.

Process of being an entrepreneur.

A physical, tangible item that a business sells to a customer.

What entrepreneurs get in exchange for starting a business.

The chance of losing something, including money, time, an energy.

People who take what they learn starting a business to start many more.

Something that a business does for a customer in exchange for money.

a way of viewing or thinking about something that can affect how you feel about it

a quality or behavior that describes a person

a person who provides guidance, tutoring, and advice to achieve your goals

a set of skills that entrepreneurs share that enable them to make the most of opportunities, to overcome and learn from setbacks, and to succeed in a variety of settings.

the ability to show respect to everyone around you while still performing your responsibilities

an evaluation of ones strengths and weaknesses

abilities that are learned through training and practice

is an arrangement in which an established company sells the right for others to use the company's name and operating plan to sell products or services

Manufactured products typically fall into two categories: industrial and consumer

converts materials into goods suitable for use and then sells those goods to others

assigns a numerical code to every industry in North America based on its primary business function.

permit to purchase goods tax-free from wholesalers and collect sales tax from the end buyers

buys goods, often from wholesalers, and resells them directly to consumers, who are the end buyers

Retailing businesses are stores, shops, and boutiques

provides services to customers for a fee

A business that is either a wholesale or retail business

buys goods in large quantities, typically from manufacturers, and resells them in smaller batches to retailers

also known as middlemen, go-betweens, distributors, or intermediaries because they provide a link between manufacturers and retailers, who sell goods to consumers.

Corporation that is taxed as an entity by the federal government.

Business owned, controlled, and operated for the mutual benefit of its members--people who use its services, buy its goods, or are employed by it.

Legally defined type of business ownership in which the business is considered a "person" ("entity") under the law, and limited liability is granted to the business owner(s).

Payment corporations make to their shareholders, being a portion of the corporation's profit.

Partnership in which all partners have unlimited liability.

Set up a corporation in accordance with the laws of the particular state where the business is located.

Legal obligation of a business owner to use personal money and possessions to pay the debts of the business. Any outstanding bill or loan that must be repaid.

Business owner cannot be legally forced to use personal money and possessions to pay business debt.

Legally defined type of business ownership similar to a C corporation but with simpler operating requirements and tax procedures, and greater liability protection for the business owners (who are called members).

Partnership in which at least one partner has limited liability for the debts of the business.

Legally defined type of business ownership in which the company operates not to provide profit for its shareholders but to serve the good of society.

Legally defined type of business organization in which at least two indivduals share the management, profit, and liability.

Legal document that clearly defines how the work, responsibilities, rewards,and liabilities of a partnership will be shared by the partners.

Unit of ownership in a corporation.

Owners of a corporation. Also referred to as stockholders.

Legally define type of business ownership in which a single individual owns the business, collects all profit from it, and has unlimited liability for its debt.

Owners of a corporation. Also referred to as shareholders.

Corporation that differs from a C corporation in how it is taxed. Its income or loss is applied to each shareholder and appears on their tax return.

Business owner can be legally forced to use personal money and possessions to pay the debts of the business.

Someone who is licensing to sell businesses.

Consumer need or want that potentially can be met by a new business

Risk in which potential costs and benefits are carefully considered before starting a business

Process of adding up all the expected benefits of an opportunity and subtracting all the expected costs

Thought process that involves looking at the situation or object in new ways; also called lateral thinking

Logical thought process that involves analyzing and evaluating a situation or object also called vertical thinking

How possible or worthwhile it is to pursue an idea, to see if it is actually an opportunity

Franchise buyer

Franchise seller

Nonmaterial

Something that people must have to survive, such as water, food, clothing or shelter

Legal document in which a person or group agrees to keep certain information confidential.

Value of what you will give up to get something

Model in which future reproductions of an invention are based

Regular, ongoing payment to franchisor based on percentage of the sales a franchisee earns

Business evaluation method that draws its name from the four areas it evaluates

Convention where related business come to promote their products or services

Product or service that people desire

Period of time in which you have to act before a business opportunity is lost

This includes any social, economic, or political factors that could affect your business

A company that sells things to another company. An example would be a food distributor selling to a restaurant.

A group of potential customers—people or businesses—who are willing and able to purchase a particular product or service.

This is a step by step method to gather and analyze information about your market, with results that will help you make business decisions.

The maximum number of companies an industry can support based on its potential customer base

Trying to sell your product or service to as many customers as possible.

A limited number of customers who are most likely to buy the product or service.

A detailed description of your target market's characteristics.

A grouping of consumers or businesses within a particular market that has one or more things in common.

Objective social and economic facts about people

Basing market segments on where consumers live or where businesses are located

Psychological characteristics of consumers, such as attitudes, opinions, beliefs, interests, personality, lifestyle, political affiliation, and personal preferences

Existing information that was previously gathered for a purpose other than the study at hand

New information that is collected for a particular purpose

This type of company provides lists of names and addresses for targeted markets, typically allowing you to use the list for a single mailing.

A small number of people who are brought together to discuss a particular problem, product, or service

A company who sells to individuals

Reasons customers choose to buy a product.

Marketing strategy that can create an emotional attachment to your product(s).

Symbol or other graphical design that can be used to identify a brand.

Combining the price of several different services (and/or physical products) into one price.

Pricing method that focuses on what the competition charges.

Pricing method that sets a product's price based on what it costs the business to provide it.

Pricing method that focuses on customer demand--how much customers are willing to pay for a product.

Distribution pathway in which a product goes from the producer straight to the consumer.

Way in which a product can reach the consumer; Series of steps through which products flow into or out of a business.

Type of distribution that gives a specific retailer, or authorized dealer, the sole right to sell a product in a particular geographical area.

What a product does and how it appears to the senses (sight, sound, taste, smell, and touch).

Distribution pathway in which the product goes from the producer to one or more intermediaries before it reaches the consumer.

Type of distribution that makes a product available at as many sales outlets as possible.

Bridge between a producer and a consumer--may include agents, brokers, wholesalers, distributors, and retailers.

Price created when a retailer wants to reduce the price of an overstocked product.

Way of presenting your business to your customers that clearly communicates the value of your product or service.

"Recipe" for reaching and keeping customers that combines five marketing elements called the Five P's: people, product, place, price, and promotion.

Detailed guide with two primary parts: marketing goals and strategies for reaching those goals.

Percentage of given market population that is buying a product or service from a particular business.

Price created when a retailer adds an additional amount to the cost of a wholesale product to make a profit.

Awareness or popularity a certain product has with consumers.

Combination of products that a business sells.

Process of creating a strong image for your product; a way of influencing customers to distinguish your brand's characteristics from those of the competition.

Process used to make potential customers aware of your product/service and to influence them to buy it.

Type of distribution that allows a product to be sold at a moderate number of sales outlets, but not all, in a particular geographical area.