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Glossary

A FRANCHISE

is an agreement in which one business grants another business the right to distribute its products or services.

A HOME- BASED BUSINESS

is one where your home is also the main place of your business.

A PART- TIME BUSINESS

means working fewer days per working week for a business

A skill

is the ability to perform a task with specific results within a specific time.

Analysis of competition

need to research target audience, current market, to understand demand and offer.

BEHAVIOR

how an individual actually acts based on a given situation.

Branding

The process of developing a corporate identity.

Budget

Budget is a spending plan based on income and expenses. In other words, it’s an estimate of how much money you’ll make and spend over a certain period of time, such as a month or year.

Business angels

private investors (typically managers or entrepreneurs) investing their own money in innovative ideas with high profitability potentials, in exchange for equity

Business idea

is an initial idea of how to create something new, improve the existing, or better solve a problem or a need, in a way that will generate value for the users, which can lead to establishing an enterprise.

Business idea

is an initial idea of how to create something new, improve the existing, or better solve a problem or a need, in a way that will generate value for the users, which can lead to establishing an enterprise.

Cibersecurity

Set of measures and strategies to protect our devices and personal information from digital threats.

Competitive advantage

is superiority over competitors that is gained through the ability to deliver greater value to the customer - either through lower prices or by providing greater benefits.

Crowdfunding

includes internet-based initiatives aimed at funding a project/business idea by raising small amounts of money from a large number of people

DIRECT SELLING

involves selling consumer products or services in a person-to-person manner, away from a fixed retail location.

Debt financing

involves the borrowing of money and paying it back with interest. The most common form of debt financing is a loan. Debt financing sometimes comes with restrictions on the company's activities that may prevent it from taking advantage of opportunities outside the realm of its core business.

Demand

is a certain amount of money used to buy a certain type of commodity.

Entrepreneur

An entrepreneur is defined as someone who has the ability and desire to establish, administer and succeed in a startup venture along with risk entitled to it, to make profits.

Entrepreneurship

is a process in which an opportunity is identified, evaluated, and exploited.

Entrepreneurship

is a process in which an opportunity is identified, evaluated, and exploited.

Equity financing

involves selling a portion of a company's equity in return for capital. The main advantage of equity financing is that there is no obligation to repay the money acquired through it.

ICT

Information and Communication Technology.

INTERPERSONAL AWARENESS

Observing and understanding the feelings and motives of others.

Innovation

is the commercialization of an idea (the ability to create value through new ideas and improved solutions).

JUNK MAIL/ SPAM

is an unsolicited mail that consists mainly on promotional materials

LEADERSHIP

The ability to persuade others to follow you, inspire them to perform at the highest level, and make them understand and believe in your vision.

Minimum Viable Product

A Minimum Viable Product (MVP) is a product with enough features to attract early-adopter customers and validate a product idea early in the product development cycle. MVP is a full-scale test in the real market situation for start-up products; it helps to build an interaction with the target audience and grab potential customers’ attention and fulfill their needs.

Phishing

Online scams aimed at stealing confidential information or data.

SOCIAL MEDIA MARKET

is a form of internet marketing that uses social media apps as a marketing tool.

Social Networks

Digital platforms that allow interaction among users all over the world, so they can share messages, images, videos, links…

Supply

is the amount of a specific commodity that is offered to customers at a specific time, place, and price.

TRAITS

an individual’s preferred or natural way of doing things

The market

consists of all supply and demand relationships that are established for the exchange of goods and services at a specific time and place.