Someone new to the world of entrepreneurship will notice right away that entrepreneurs have interesting way of speaking. From “unicorn” to “bootstrapping” to “foodpreneur,” entrepreneurs use a lot of strange language to describe what they do. By combining words, or by assigning new meaning to old ones, they have created a whole new vocabulary to better communicate their needs and ideas in an ever-evolving ecosystem. The EntrepreLingo Series is an effort to make our readers more aware of the weirder or less straightforward terms you’re sure hear in an entrepreneurial environment. This week’s installment is brought to you by the letter “A.”
An accelerator is a program, usually held over the course of several weeks, that features curriculum and mentorships to help entrepreneurs “accelerate” their startups to the next stage. These programs typically end with a demo day or a pitching event, where founders have the opportunity to network with potential investors.
Interested in learning more? Check out our list of the South’s accelerators here.
An acquihire occurs when a large company buys out a smaller company to acquire the skills and experience of its staff rather than the company’s products or services.
Advertorial/advertainment combines the words “advertisement” and “editorial”—or “advertisement” and “entertainment”—to signify a paid advertisement that is crafted to resemble an actual story or blog post. Advertorials function as the print equivalent of the TV infomercial. Unlike a simple banner ad, this method of advertising captures the reader’s attention and engages them on a more personal level.
An advisor is someone who advises company strategy and can offer funding, expertise or valuable connections within a business relationship.
An advisory board is a group of people who give strategic advice to the management of an organization. Unlike the Board of Directors, advisory boards have no official authority or stake in a business, meaning they can offer a wealth of knowledge without the added expense or formality of an official board.
Specific to software development companies, Agile is a methodology that serves as an alternative to traditional project management styles such as waterfall, a sequential method of management. Agile emphasizes adaptability and collaboration by preparing teams for the unknown and utilizing incremental developments called sprints. It is often implemented using a framework called Scrum.
Angels (or Angel Investors)
Angel investors are individuals who invest capital into startups in exchange for a stake in the company.
Anything as a Service (or Everything as a Service or XaaS)
The “as a Service” model refers to companies that provide their services via the internet rather than in person or on-site. This cloud-based model is great for digital products that are always evolving or improving. Some examples include Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Platform as a Service (PaaS).
Authorpreneurs are authors with the mindset of an entrepreneur. Rather than writing with the hope of acquiring a traditional book deal, authorpreneurs often self-publish and then manage—or outsource the management of—their own brand, marketing and publicity.