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Entrepreneurship Glossary

  • Bootstrapping: Building a business with minimal resources or financial assistance, often relying on personal savings or revenue.
  • Business plan: A formal document detailing a business’s objectives, strategies, target market, and financial forecast.
  • Digital marketing: Promoting products or services through online channels such as social media, email, and search engines.
  • Elevator pitch: A brief, persuasive speech used to spark interest in a business idea during a short encounter.
  • Incubator: A program or organization that helps startups grow by providing resources, mentorship, and networking opportunities.
  • Lean startup: A methodology for developing businesses and products that aims to shorten product development cycles and quickly discover market fit.
  • Mentor: An experienced business professional who provides guidance, advice, and support to an entrepreneur.
  • Networking: Building and maintaining relationships with other professionals, investors, and potential customers to help grow a business.
  • Pitch deck: A presentation that outlines a startup’s business model, market opportunity, and financial projections for potential investors.
  • Scalability: The ability of a business to handle growth and increased demand without compromising performance or quality.
  • Startup: A newly established, innovative company with high growth potential.
  • SWOT analysis: A strategic planning tool that identifies a business’s strengths, weaknesses, opportunities, and threats.
  • Target market: The specific group of customers or audience that a business aims to reach and serve with its products or services.
  • Market research: Gathering and analyzing information about a target market’s needs, preferences, and behaviors to inform business decisions
  • E-commerce: Buying and selling goods or services over the internet through online platforms or websites.
  • Freelancer: Self-employed individual who offers services to clients on a project-by-project basis.
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