Entrepreneur A- Z Flashcards Version 2.0

Entrepreneur A-Z
Flashcards
1
Presented by Jacqueline Sanders-Blackman

Is the measurement, processing, and communication of
financial and non-financial information about economic entities
such as businesses and corporations.
Accounting
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Willing or likely to take practical action to deal with a problem
or situation.
Action-Oriented (Kinetic Energy)

A conscious effort to hear and understand the total message
that's being sent. This includes verbal and nonverbal cues.
Active listening

An ability to change something or oneself to fit occurring
changes.
Adaptability

(Aggressive) Crushing one's competition, exhibiting
unrelenting pursuit of customers, often expressing belittling or
bullying behavior toward employees and even peers. (Passive
Aggressive) People pay those directives lip service, putting in
only enough effort to appear compliant.
Aggressive - Passive Aggressive

The powerful desire to achieve the targeted goals.
Ambitious

Detailed analysis and examination of the elements and
structure of your vision for your business, including the
idea, the target market, business model, business plan,
proof of concept, formation (licenses, taxes),
permits/insurance/trademarks/copyright, funding, logo,
branding, awareness, website, social media,
refinement/scaling/development.
Analysis

Usually a wealthy individual, who will take a share of
your business in return for financial support.
Angel Investor

To have the ability to get your message across in a
self-assured and confident way without being aggressive.
Assertive

Things a business owns, e.g. buildings, vehicles, stock, and
money in the bank.
Assets

What you aim to be as a company. It can be organized in many
different ways, but most frequently are set as your mission,
vision, values, and priorities.
Aspirations

A system of exchange in which participants in a transaction
directly exchange goods or services for other goods or
services without using a medium of exchange,such as money.
Barter

Is a A model-driven approach that starts with the business
strategy, requirements, and goals, and then refines and
transforms them into an IT solution.of accounting or
accountancy.
BDD (Business-Driven Development)

How people interact with one another inside an organization.
Behavior

Refers to the words and symbols such as a name, logo, and
slogan that represent a business' identity.
Brand

The number of sales a business needs to make to cover all its
costs.
Break-even

Strikingly high mental acuity when it comes to innovation,
marketing and deriving business value.
Brilliant

Describes how a company will capture value from the
business.
Business Model

A written document describing in detail how a business will
achieve its objectives and direct itself, both operationally and
financially. The document will be updated regularly.
Business Plan

Striving to build a sustainable business that experiences slow
and steady long-term growth while not being overly anxious or
nervous as the founder/owner.
Calm

The expression or the articulation of the capacity, materials
and expertise an organization needs in order to perform core
functions. The 5 C’s are Capability, Curiosity, Commitment,
Confidence, Creativity.
Capability (5 C’s)

Money invested by a company to acquire or upgrade fixed,
physical or non-consumable assets.
Capital Expenditure

Money flowing in and out of a business.
Cashflow

The process of earning an official document, or the act of
providing an official document, as proof that something has
happened or been done.
Certification (Small Business, Minority, Women Owned)

A certain type of customer who purchases advice and
solutions.
Client

The feeling of responsibility that a person has toward the
goals, mission, and vision of the organization s/he is
associated with. The 5 C’s are Capability, Curiosity,
Commitment, Confidence, Creativity.
Commitment (5 C's)

Knowing your strengths and weakness well, and having a
positive view of yourself. The 5 C’s are Capability, Curiosity,
Commitment, Confidence, Creativity.
Confidence (5 C's)

The ability to develop new ideas and solutions to problems.
The 5 C’s are Capability, Curiosity, Commitment, Confidence,
Creativity.
Creativity (5 C's)

Critical thinking is a kind of thinking in which you question,
analyse, interpret, evaluate and make a judgement about what
you read, hear, say, or write.
Critical Thinking

When a large number of individuals will each invest small
amounts of money in a business or project using the internet to
collect the money.
Crowdfunding/Crowdsourcing

The desire to learn and understand new things and to ask
questions to figure out the “how” and, crucially, the “why.” The
5 C’s are Capability, Curiosity, Commitment, Confidence,
Creativity.
Curiosity (5 C's)

A strategy that puts customers at the center of business
decision-making.
Customer/Consumer Focus

A fictional profile that represents a particular target customer.
Customer Persona / Profile

Facts and statistics collected together for reference or analysis.
Data

The qualities of commitment and perseverance. It is the
essential ingredient needed to make dreams into reality.
Dedicated

A characteristic of your firm that separates you from key
competitors and gives you a perceived advantage in the eyes
of your target audience.
Differentiator

An organization's method of regaining access and functionality
to its IT infrastructure after events like a natural disaster, cyber
attack, or other business disruptions.
Disaster Recovery

A complete and appropriate review of documentation and facts
by a potential buyer or its agents before purchasing an asset or
engaging in business with a prospect.
Discovery/Due Diligence

(Divergent thinking) Concentrates on generating a large
number of alternative responses including original,
unexpected, or unusual ideas. (Convergent thinking) Involves
finding only the single correct answer, conventional to a
well-defined problem.
Divergent/Convergent thinking

A person whose ideas or projects are considered audacious or
highly speculative.
Dreamer

Being diligent and always assuming a sincere attitude toward
work.
Earnest

A short description of an idea, product, or company that
explains the concept in a way such that any listener can
understand it quickly.
Elevator Pitch

A person who shows up on time, shows interest in his or her
job, and demonstrates a willingness to listen, learn, and try
new things.
Enthusiastic

An individual who creates a new business, bearing most of the
risks and enjoying most of the rewards.
Entrepreneur

The implementation of a strategic plan to reach organizational
goals.
Execution

A payment with either cash or credit to purchase goods or
services.
Expenditures

It is important that you fail soon (so you and your team don't
lose your time) and without putting many resources into it (so
your investors don't lose faith in you).
Fail Fast. Fail Cheap.

A business that closes or ceases operations causes the
creditors to lose money.
Failure

Those who go against the grain or the standard way of working,
instead they prefer to fight and pushback on the accepted norms.
Generally, they focus on being independent and decide when to
work, who to work with, and what to wear. They prefer creating
and overseeing their own ideal work culture.
Fighters

Things a business owns or controls for a long time, such as
premises or equipment.
Fixed Assets

Costs that stay the same, regardless of how many sales a
business has.
Fixed Costs

Concentration on a single or limited range of business
activities.
Focus. Focus. Focus.

The number of customers who enter your store.
Foot Traffic

An attempt to predict future outcomes based on past events
and management insight.
Forecast

Recognize emerging patterns, identify untapped opportunities,
and come up with innovations to exploit these opportunities.
Future

Is the degree to which a person or organization focuses on
tasks and the end results of those tasks.
Goal-Oriented

The point past which putting more resources into something
won't improve it in a meaningful manner, so you should finish
with it and move on.
Good Enough

Total income from a business’ sales minus the direct costs of
making the sales (this does not include a business' overhead
or running costs).
Gross Profit

When an organization plans to achieve its growth objective and
expand its business by quality, quantity, and turnover.
Growth Mindset

(Happy Path) A concept used to describe an ideal process
flow. It is the path that a process should take when everything
goes according to plan and no problems arise. (Alternate Path)
An execution plan of a business process that overtakes an
activity on another path.
Happy Path - Alternate Path

The act of giving someone a job. The term can also be used to
describe renting a piece of equipment.
Hiring

Any activity that a person pursues because they enjoy it and
with no intention of making a profit.
Hobby

Say what you're going to do and do what you say.
Honor

A person who can create new ideas, methods, or products.
Innovator

(Investments) An asset or item acquired to generate income or
appreciation. (Investors) Any person or other entity (such as a
firm or mutual fund) who commits capital with the expectation
of receiving financial returns.
Investments / Investors

Any legal activity that allows an individual to perform a service
and in return earn credits she/he can use to buy things.
Jobs

The process of forming an opinion or evaluation by analyzing,
discerning and comparing options.
Judgment

A production model in which items are created to meet
demand, not created in surplus or in advance of need.
Just In Time (Production)

Workers who have acquired specific skills and proficiencies
through formal training and who apply their know-how toward
creative problem-solving.
Knowledge Worker

A single webpage created with a specific goal, generally to
support a digital marketing campaign or competition, and
accessed via links in emails, social media posts, and PPC ads.
Landing Page

Introducing a new product, feature or service to market.
Launch

Creates visionary scenarios that are used to assemble and
mobilize stakeholders who become committed to the vision
towards the discovery and exploitation of strategic value
creation.
Leadership

Identifying how to create more value for customers with fewer
resources.
Lean

Any business organization that is legally permitted to enter into
a contract, including a contract for the purchase, sale, or lease
of real property.
Legal Entity

Individuals who continue to build new skills and professional
capabilities beyond their formal education.
Life Long Learner

The difference between the selling price of a product or service
and its costs. The higher the margin, the more profit that is
made.
Margin

Any activity a business does to try and contact potential
customers.
Marketing

Measures of quantitative assessment commonly used for
assessing, comparing, and tracking performance or production.
Metrics

A sentence that describes what your business aims to achieve
in the long term.
Mission Statement

The process that activates and motivates the entrepreneur to
exert a higher level of effort for the achievement of his/her
entrepreneurial goals.
Motivated

A company that gains a competitive advantage by being the
first to bring a new product or service to the market.
Mover

Small-sized enterprises are companies with fewer than 50
employees and a medium-sized enterprise is one with less
than 250 employees.
MSME (Micro/Small/Medium Enterprise)
BELOW
1 MILLION
2- 10
MILLION
11- 100
MILLION
ABOVE
100
MILLION
MICRO SMALL MEDIUM LARGE
EMPLOYEES EMPLOYEES EMPLOYEES EMPLOYEES
1-9 10-49 50-249 250 ABOVE

A business' total income minus its total costs.
Net Profit

Things a business wants to achieve.
Objectives

Routine functioning and activities of a business or organization.
Operational

A chance for advancement, progress, or profit. The right
opportunities can be few and far between. You sometimes
have to act on an opportunity - ready or not.
Opportunity

Sees new opportunities, learns from experience, and keeps
moving toward success.
Optimist

A strong drive to change an idea or a method into a profitable
venture.
Passionate

Is granted by government to the inventor, giving the inventor
the right to stop others, for a limited period, from making, using
or selling the invention without their permission.
Patent

A continuous loop of planning, doing, checking (or studying),
and acting. It provides a simple and effective approach to
solving problems and managing change. The model is useful
for testing improvement measures on a small scale before
updating procedures and working practices.
PDCA (Plan, Do, Check, Act)

The company's ability to profit from the resources and achieve
its objectives.
Performance

Changing some aspects of its core products or services.
Pivot

Practical, realistic approach to solving problems in a sensible
way that suits the conditions that exist now, rather than
obeying fixed, historical theories, ideas, or rules.
Pragmatic

Measures how close results are to one another.
Precision

A series of actions or steps taken in order to achieve a
particular end.
Process

Active attempts made by the individual to effect changes in his
or her environment.
Proactive

Will show a business' total income and expenditure for a given
time period.
Profit and Loss Accounting

A business that is described as profitable is money-making.
Profitable

Is about meeting the needs and expectations of customers.
Quality

Entrepreneurs need to ‘think fast’, be decisive and take risks. This means there will be
some mistake and even some bad decisions but alternative is overthinking. Slow thinking
as well as slow movements can result in missed opportunities. You have to find the right
balance between fast and slow thinking.
Quick

Goals that are the result of careful planning and development
on the part of a small business owner or leadership team.
Realistic

A customer gained through a recommendation from someone
else.
Referral

Entrepreneurs' ability to adapt to changes in their business
environment and rebound after experiencing adverse
situations.
Resilient

The money, people, time, and equipment required to run a
business.
Resources

The money a business makes from the sales of the products or
services of the business.
Revenue

Taking the initiative to do something that you love, something
that you're good at, and something that will make you money.
Revolutionary

Anything that threatens an organization's ability to generate
profits at its target levels.
Risk

The ratio of net profit over the total cost of the investment.
ROI (Return on Investment)

The ability of a business to grow fast without increasing its
production costs.
Scalability

A complete description of a business problem, both in business
and in architectural terms, which enables individual
requirements to be viewed in relation to one another in the
context of the overall problem.
Scenarios

A person, business process, or application that provides a
specific result or information to a use case in order for the end
goal of the use case to be achieved.
Secondary Actor

The ability to perceive yourself accurately and align your
strengths to the business.
Self Aware

Any transaction in which money is exchanged for a good or
service.
Sell. Sell. Sell.

The following of one thing after another.
Sequence

Suppliers, Inputs, Process, Outputs, Customers - summarizes
the inputs and outputs of one or more processes in table form.
SIPOC

A production philosophy that uses data, processes, and tools
to nearly eliminate defects and bring performance close to
perfection.
Six Sigma

The personal values and interpersonal skills that determine a
person's ability to work well with others in a project team.
Soft Skills (Communication)

Is a programming language that can let you access a database
and acquire information.
Structured Query Language

The process of identifying, assessing, and prioritizing the
people who will be affected by your business or project.
Stakeholder Analysis

Is a company that operates at an infant stage, with a nascent
economic activity, a limited (but growing) client base, and a
highly motivated team.
Startup

All the raw materials and finished goods owned by a business.
Stock

Outlines the plan of action to achieve the vision and set
objectives of an organization and guides the decision-making
processes to improve the company’s financial stability in a
competing market.
Strategic

Having little or no impact on the environment and
therefore enabling a positive effect on future generations.
Sustainable

A brief phrase used to relay a brand's value. A catchphrase or
small group of words that are combined in a special way to
identify a product or company.
Tagline / Slogan

A group of customers a business chooses to focus its
marketing efforts on.
Target Market

Having the right skills and intuitive knowledge to operate
modern devices effectively.
Tech Savvy

A document that details the technical requirements for a given
test scenario and its current state.
Traceability Matrix

Is the process of being open, honest, and straightforward
about various company operations. Transparent companies
share information relating to performance, small business
revenue, internal processes, sourcing, pricing, and business
values.
Transparency

The overall direction of a market or an asset's price. A
distinguishing quality or characteristic, typically one belonging
to a person.
Trends / Traits

A benefit that a business offers to its customers that its
competitors do not.
Unique Selling Point (USP)

Is a code on a product's packaging that helps identify the item.
UPC (Universal Product Code)

A tool that maps interactions between users and systems to
show the interactions between them.
Use Case Diagram

The principles and beliefs that guide what a business does and
how it does it.
Values

Costs that vary in line with a business' level of sales.
Variable Cost

Financing that investors provide to start-ups and small
businesses that is believed to have long-term growth.
Venture Capital

A business' long-term goal.
Vision

An entrepreneur’s mindset is one that is opportunity
obsessed, well-rounded, holistic in approach, and a balance
of servant/leadership.
Way of Thinking

An accumulation of valuable economic resources that can be
measured in terms of either real goods or money value.
Wealth

Is the courage to dare and not be afraid of failure. The desire
to succeed and yet the readiness to cope with challenges is a
basis for the entrepreneur on her path to success.
Willingness to Fail

The ability to add intangible value to your product or service.
X-Factor (Behavior)

How much income an investment generates, separate from the
principal.
Yield

For entrepreneurs, the Yin as being all about knowledge,
discovery, and playing with ideas—being open to new
possibilities while the yang is concerned with establishing
markets and putting strategy and structure in place.
Zen (Yin and Yang)

144
jsb@technologyexpresso.consulting
855-484-6837
linkedin.com/in/jacqueline007
@Jacqueline007
Stay in Touch
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