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EntrepreLingo, Startup Lessons

The EntrepreLingo Series: B Is for Bootstrapping

- Rachel Cypher -

Someone new to the world of entrepreneurship will notice right away that entrepreneurs have an 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 fill our readers in on some of the weirder—or less straightforward—terms you’re sure hear in an entrepreneurial environment. Last time we covered the letter A. This week’s installment is brought to you by the letter B.

B2B (or B-to-B)

B2BStands for Business to business. This term describes businesses that focus on selling products to other businesses, not directly to the consumer. Examples of B2B enterprises include Intel and Adobe.

 

B2C (or B-to-C)

B2CStands for Business-to-Consumer. This term describes a model in which businesses focus on selling products directly to consumers. This is the most common model of commerce; examples can be found in companies such as Starbucks, Spotify and Taco Bell.

 

Bandwidth

BandwidthBandwidth describes the capacity at which your business can operate. Just like actual bandwidth, it is a limited resource; it can be limited by your team’s energy, current workload, finances or lack of resources.

 

Benchmark

BenchmarkBenchmarks are set goals used to measure a company’s success; for example, a benchmark could be for a business to reach $X in revenue by its second year. Benchmarks are particularly important for investors who need to see a business’s growth and success rates before investing.

 

Bleeding Edge

Bleeding EdgeThis term is used to describe companies at the forefront of technological development. These technologies are described as “Bleeding Edge” when they have been released in beta to early adopters but are still too unreliable for the general public.

 

Board (of Directors)

Board of DirectorsA board of directors is a group of investors and mentors who have been officially elected to oversee a business’s affairs.

 

 

Bootstrapping

BootstrappingTaken from the expression, “Pull yourself up by your bootstraps,” this means a founder is funding the business with his or her own money or through small investments from family and friends. Bootstrapping is beneficial for slow-growth startups whose founders wish to retain total ownership of their companies.

Bridge Loan

Bridge LoanThese are short-term loans that are given to “bridge the gap” between financing.

 

 

Burn Rate

Burn RateThe amount of money your company “burns through” every month in excess of income.

 

 

Business Model

Business ModelYour business model describes how the different parts of your business—such as key partners, revenue streams, value propositions and customer segments—interact with one another. A business model is less formal than a business plan and is easier to adapt in changing environments.

 

Business Plan

Business PlanThis is a formalized plan that outlines how your business works. It includes financial models, industry research, target markets, market opportunity, competitive analysis, exit strategies and more. They are typically used when communicating with potential investors, partners, loan officers, etc.

 

Buyout

handshakeA buyout occurs when someone purchases a company’s shares, and as a result, gains controlling interest in the company.

 

See something we’ve missed? Leave your contribution in the comments below!

Icons made by Freepik from www.flaticon.com is licensed by CC 3.0 BY
Jul 25, 2016Rachel Cypher

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4 years ago 6 Comments EntrepreLingo, Startup Lessons232
retro
Rachel Cypher

Rachel Cypher is a startup person. After getting stuck in the post-college retail rut for almost three years, she’s finally pursuing what she wanted all along — a writing career.

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  1. EntrepreLingo Series: C Is for Capital « Startup Southerner
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  2. The EntrepreLingo Series: F Through H « Startup Southerner
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  3. The EntrepreLingo Series: M and N « Startup Southerner
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  4. The EntrepreLingo Series: Minding Your Ps and Qs « Startup Southerner
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  5. The EntrepreLingo Series: R Is for Roadmap « Startup Southerner
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  6. The EntrepreLingo Series: S Is for Scalability « Startup Southerner
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