|
Advertising
- Providing a persuasive selling message
to the public concerning the products and services your business has
for sale, usually conducted through some type of media campaign.
Affiliates
- Business concerns, organizations, or individuals that control each
other or that are controlled by a third party. Control may include
shared management or ownership; common use of facilities, equipment,
and employees; or family interest
Auction
- A public sale of goods to the highest bidder.
Barter
– The direct exchange of merchandise and/or services between two
different businesses.
Business Plan
- A comprehensive planning document which clearly describes the
business developmental objective of an existing or proposed business
applying for assistance in SBA's 8(a) or lending Programs. The plan
outlines what and how and from where the resources neede
Business
Start -
For enumeration purposes, a business with a name or similar
designation that did not exist in a prior time period.
Business
Taxes -
four general kinds of business taxes are income, self-employment,
employment, and excise.
Consultant
-
The term consultant is often used interchangeably with the terms
independent contractor, freelancer, and vendor.
Consumer Direct Marketing -
Consumer Direct Marketing is Network Marketing in which the
distribution chain is referred to as consumers rather than
distributors. In such businesses the distributor must also buy the
product for their personal use.
Copyright
- A form of protection provided by the laws of the United States to
the authors of "original works of authorship," including literary,
dramatic, musical, artistic, and certain other intellectual works.
This protection is available to both published and unpublished
works. Copyright protection is available for all unpublished works,
regardless of the nationality or domicile of the author.
Direct Selling,
or Direct Marketing -
Direct Selling, or Direct Marketing as it is sometimes called,
simply means grass roots, face-to-face distribution of products.
It’s used often to refer to door-to-door selling.
Distributor
– A
Distributor or Independent Distributor is a person who sells
products for a multilevel marketing company while acting as an
independent contractor. They are also sometimes called an
Independent Representative (IR) or an Independent Sales
Representative.
Downline
- Downline is a multilevel marketing term that refers to the
distributors sponsored directly in your group, as well as those
sponsored by other distributors below.
Entrepreneur
- An entrepreneur is someone who assumes the financial risk of
beginning and managing a new venture. The venture can be based on a
totally new idea, a new way of doing something, a new location, or
attempting something no one else has done before.
Home Based
Business
- A home based business is a business whose primary office is in the
owner's home. The business can be any size or any type as long as
the office itself is located in a home.
Home Party Plan
-
Home Party Plan is also called Direct Selling. However, instead of
door to door selling the consultant markets the products and
recruits in the home of a hostess who in turn receives product
bonuses for holding the meeting in her home. When choosing a direct
sales or home party plan business make sure you:
*have the time
to work a business
*have the money
to advertise your business
*have the money
to purchase both product and supplies
*are comfortable
with the commissions structure
*can stand
behind the company’s policies, procedures, regulations, and
philosophy
*understand what
is expected of you
*like and use
the products and/or services
*don’t mind
striking up conversations with strangers, in passing, with the
intent of *handing out your business card.
*enjoy
demonstrating your products to a group of people (if required);
*click with your
upline; and
*that your
upline will be readily available to answer any of your questions and
guide you to success.
Marketing
- The
process of researching, promoting, selling and distributing a
product or service. Marketing includes advertising, publicity,
promotion, pricing, sales and distribution of the goods or services.
MLM -
Multilevel Marketing is selling products by using independent
distributors and allowing these distributors to build and manage
their own sales force by recruiting, motivating, supplying, and
training others to sell products. The distributors' compensation
includes their own sales and a percentage of the sales of their
sales group (downline). Another description is any business
where payouts occur at two or more levels; i.e., if you make a sale,
both you and the person above you will get a portion of the
proceeds.enjoy demonstrating your products to a group of people (if
required);
Network
Marketing -
A business in
which a distributor network is needed to build the business. Usually
such businesses are also MLM in nature in that payouts also occur at
more than one level. Network Marketing is sometimes also used
incorrectly to indicate that the business uses a network of product
suppliers in order to offer a broader selection of products. It is
usually used this way to differentiate themselves as a way to
suggest that their program is superior to other such programs.
Ponzi Scheme -
The
term Ponzi scheme is often misused as a synonym for a pyramid
scheme, the essential difference is that Ponzi scheme participants
are not offered any direct financial incentive for bringing in other
participants. However, they are likely to tell their friends about
the investment opportunity. The fact that early participants in a
Ponzi scheme are paid off from the monies collected by later
participants is normally known only to the operator of the Ponzi
scheme. The participants are instead offered a story to explain
their high investment returns
Pyramid Schemes
- A
pyramid scheme is an illegal multilevel marketing program in which
people pay an entrance fee for the opportunity to recruit others to
do the same. Pyramid schemes usually have no products. Chain letters
in which you send money to the person who sent you the letter, then
you forward the same letter to a number of others is an example of a
pyramid scheme.
Small Business
- A business that is independently owned and operated that is not
dominant in its field of operation, provided it has annual receipts
not in excess of $500,000 and has fewer than 500 employees.
SOHO
– SOHO is an acronym for Small Office, Home Office. The term is
usually used in referring to small businesses and home based
businesses as a market segment. It is also used to describe a type
of working environment.
Telecommuting
– Working at home for a business. Data and documents are usually
transmitted to and from a central office via computer, fax, and
telephone.
Trademark
- Legal
protection for a word, name, symbol or device which is used in trade
with goods to indicate the source of the goods and to distinguish
them from the goods of others. A servicemark is the same as a
trademark except that it identifies and distinguishes the source of
a service rather than a product.
Virtual
Assistant
- A Virtual Assistant is a temporary worker who works for businesses
over the internet. The employer may be at a great distance from the
assistant. All the work is performed remotely. the goods and to
distinguish them from the goods of others. A servicemark is the same
as a trademark except that it identifies and distinguishes the
source of a service rather than a product.
WAHM -
WAHM is an
acronym for Work At Home Mom. The term is used in referring to
mothers who are working from home in their own business.
|
