Business Glossary: Definition & Terms Every Entrepreneur Needs To Know

After sales is a service provided after a customer has purchased a product. Read this article to know the best practices with examples for effective process.

Asset refers to any useful or valuable thing or a person. In business terminology, asset refers to any kind of monetary value owned by a business.

A balance sheet is a financial statement of a company. It includes assets, liabilities, equity capital, total debt etc. at a particular point in time.

A bootstrapped startup is responsible for its own survival. Bootstrapping means starting and growing a startup from scratch without anyone's financial help.

A number of businesses develop something called buyer persona to allow themselves to target the right audience as they plan a roadmap for their business.

Customer retention is the process of maintaining relationships with your current customers and to delight them at each step. Read on to know more.

73% of millennials prefer businesses to communicate with them via email. The key thing to excel at email marketing is to analyse your efforts on a regular basis.

Enterprise resource planning refers to a type of software that organizations use to manage day-to-day business activities like accounting, procurement, project management, risk management, customer relationship management (CRM), supply chain operations and so on.

Inventory management includes aspects such as controlling and overseeing purchases, both from the suppliers and from the customers.

In business terms, liability is something that the company owes. Generally, it is an obligation or something that you owe somebody.

A limited liability proprietorship is a mix of both a partnership and a company, put together to form a single organisation. It is a formal partnership between at least two business partners.

Market research is a process that consists of gathering data and information pertaining to your target audience in a systematic way. Read on to know more.

Market segmentation is a process of dividing your customers and your visitors into segments based on the qualities that they share in common.

A minimum viable product means a product which usually has one basic set of features. It is released to a handful of people to test a new business idea.

A non-disclosure agreement or NDA is a written contract between two parties (people or organisations) that prohibits the sharing of confidential information shared between both the ends.

A patent is a legal document that is granted by the government of the state or the country, depending on the national rules. It gives an inventor of a particular thing, the exclusive right to make, use and sell his or her creation for a specified period of time. 

Pre-money valuation refers to the value of the company excluding the latest round of funding while post-money valuation includes external funding.

A private limited company is a privately-held business entity. It is held by private stakeholders. The governing body for such a company is the Ministry of Corporate Affairs (MCA). 

A sole proprietorship is a one-man business. It is owned and run by an individual. A sole proprietorship is not a legal entity but a description of the type of business.

Business documents comprise of a number of must have agreements and aprrovals. This article talks about the most important documents a startup needs.

Funding is the money raised by a startup or provided by an individual, organisation or government bodies to a startup for a particular purpose.

SKU is a unique code consisting of alphabets and numbers that identifies the characteristics of each product such as the manufacturer, brand, style, size and colour.

A trademark is a brand logo that represents your business. It is a visual symbol like a word signature, name, label, numbers or a combination of a few of these elements.

In the venture capital industry, the term unicorn refers to any startup that reaches the valuation of $1 billion. Recently one of the most used editing tools, Grammarly became a unicorn.

Unique Selling Proposition or USP is that one thing or a number of things that makes your business better than all your existing competitors.

YouTube marketing is a modern-day tool to meet all your targets and be on top of the users’ mind always. Read on to know more.