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25 Words You Must Know Before Starting An Online Business

By October 28, 2019April 28th, 2020Blog + Business

Starting an online business sparks both excitement and anxiety as there are a wealth of unknowns along the entrepreneurial horizon. Many budding business owners cruise the internet for hours searching for information to help smooth some of the start-up bumps in the road. In order to help with this journey, I’ve created a list of 25 words you must know before starting an online business. These terms will present often and are explained in easy language for better understandings. Though it’s not a comprehensive list, these 25 words can get you started with a healthy dose of online business understandings.

For more information on business development and start up, click here.

25 Words You Must Know Before Starting Your Online Business

Business

Accounts Payable – items or bills paid in the normal course of business

Accounts Receivable – outstanding debts of customers

Acquisition Costs – costs involved in acquiring a new customer

Assets – items of value that the company owns including cash, receivables, and inventory

Brand – the company’s name, logo, sign, symbols, and design

Business Plan – comprehensive strategy for growing and maintaining your business which includes products, services, and business model

Doing Business As (DBA) – operating name of a company

Expense – deductibles against company income

Fiscal Year – standard accounting practice that allows accounting year to begin in any month

Limited Liability Company (LLC) – specific form of private, limited company. This business structure separates the owner’s personal responsibilities from business. Laws vary by state

Technology

Back end – refers to website interfaces

Front end – refers to the parts of the website that can be seen by the user

HTML (hypertext mark-up language) – standard language used to create websites

Responsive Website Design – website signed created to respond gracefully to user device with minimal interruption

User interface – parts of an app, website, social media platform, or device that the user manipulates or interacts with

User experience – the ease in which a user accesses and uses a product or service.

Social Media

Content curation – the process of creating and presenting information or stories for public consumption on various platforms such blogs, Facebook, Youtube, Instagram, or any social media site.

Engagement – active user participation in the form of likes, comments, and shares

Influencer – individuals with an influential social media presence who uses their influence to persuade opinions, activities, or action. Influencers have varying audience sizes.

Microblogging – Offspring of traditional blogs in which an individual uses social media to share short experiences or blurbs of information.

Blogging

Content Marketing – the use of informative posts, eBooks, videos, or podcasts used to attract target audience who might become customers.

Email Marketing – the use of direct emails used to engage with current and potential customers about products and services offered.

Key Words – common words or phrases used to search for specific items online.

Search English Optimization – the practice of optimizing a website so that it shows at the top of internet search lists

Traffic – the total number of users on a website and how they were brought to the site (i.e. direct, referral)

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