Common Entrepreneurship Terms

B2B: Business to Business

B2C: Business to Consumer

SaaP: Software as a Product

SaaS: Software as a Service

MVP: Minimum Viable Product

Bells and Whistles: Special Futures

More Bang for Your Buck: A better result for the same effort

Investor: Person who puts money into a project to earn a profit

Capital: Money for investment

Incubator: A space dedicated to starting new business ventures

Copyright: Exclusive legal rights over literary, artistic, or musical material

Patent: License granted to an inventor that prevents others from making, using, or selling their invention

Trademark: The exclusive right to use a brand or part of a brand (logo, symbol, phrase)

Accelerator: Organization that promotes the fast growth of small businesses

Pitch: To share an idea with a potential investor in hope of securing capital

Scalability: How well a system can adapt to increased demands

Unicorn: A startup company with a value of $1b

Venture: A risky or daring undertaking

Outsourcing: Obtain goods or services from an outside supplier

Strategic alliance: A collaborative relationship between firms that do not invest in one another

Venture Capital: Money invested to finance a new firm that may be risky

Pitch: To share an idea with a potential investor in hope of securing capital

Launch: To open a company for the first time, or to introduce a new product

Side Hustle: A job or work you get paid for doing in addition to your main job

Associate: Business partner

The terms mentioned here are used in many different places in the entrepreneurial world so that they can be included in future articles. The business world relies heavily on these terms, not only as terms but also to remind it of ethical principles.