Business Glossary 2023

Thomas Alva Edison, just 4 months after starting primary school; Did he know that he would start work in the cellar of his house that would lead to the invention of the light bulb in 1879 and that he would establish the Edison General Electric Company, which we now know as GE, named after him? What if Henry Ford, his next door neighbor in Florida, started his business life as an engineer at Edison’s first venture Edison Illuminating Company in 1881, and will turn his first venture, Oldsmobile, into a global automotive giant, which we now know as Ford Motor Company, by getting the support of 11 investors?

The origin of the word “start-up“, which appears with various success stories, actually dates back to the 1550s etymologically. In those years, this phrase used to mean “to stand up, to take place suddenly, to take action to begin”; It was first used by Forbes magazine in 1976, as we are now used to, in an article about investments in start-ups in the field of electronic data processing. An article in Business Week magazine in 1977 talks about establishing an incubation center for start-up companies operating in the field of technology.

T. Edison, an unwitting start-up owner, H. Ford, who developed his own venture thanks to Edison’s incubation service, angel investors who see potential in Ford’s venture and invest in it. is not it? So, what other terms, phrases and phrases are used in the start-up universe, which grows like an avalanche and is seen as the future of the world at macro and micro scales? With a compilation, entrepreneurs, those who are interested in the world of entrepreneurship, “What does this word that is constantly mentioned mean?” We wanted to prepare a dictionary on start-up terminology for those who think so. We hope that our dictionary, which includes small etymological information, will be useful.

With this Business Glossary (dictionary), the concepts and concepts that are widely used in the field of entrepreneurship the definition of terms and the information of people who have gone on an entrepreneurial It is aimed that they can learn the terms in the easiest and most understandable way.

For this purpose, literature reviews were made, entrepreneurship
The books in the field were examined, the language used among entrepreneurs
observed and the most basic entrepreneurship terms were determined.

All Business Glossary 

3F (Family, Friends, Fools)

3A (Family, Friends and Fools): It’s a fun term to describe the resources that fresh entrepreneurs get support from at the start.

5 Why Technique

The 5 Cause Method: An iterative questioning technique used to investigate the cause and effect relationships underlying a particular problem. The technique was invented by Sakichi Toyoda, the founder of Toyota Motor Industries and described as the “King of Japanese Inventors”.

By asking why to a problem and asking why to the answer we gave it, we make this cycle as many as 5 why questions and we get down to the root of the problem.

A/B Testing

A/B Test: Also known as split test or bucket test. It is a method of comparing two versions of a web page or application against each other to determine which performs better. AB testing is essentially an experiment in which two or more variants of a page are shown to random users, and statistical analysis is used to determine which variation performs better for a given conversion goal.

Accelerator Program

Acceleration Program: These are programs that provide professional services for Startups who have established their companies and work to ‘accelerate’ the growth of the company. Services include strategic consulting, management coaching, branding, public relations, fundraising and client finding.

A for-profit type of business incubator that typically accepts startup teams into a
three-month program and provides basic living expenses, office space, and intense
mentorship in exchange for equity in the startup.

Accreditation

Accreditation: In order to demonstrate the conformity of a product or service to the conditions, standards and regulations demanded by the market, the organizations (Conformity Assessment Bodies) that carry out the tests, analysis, inspection and certification procedures for that product or service are inspected by an official authority according to international criteria, and technical and administrative It is the process of confirming the qualifications and auditing them at regular intervals.

Accredited Investor

Accredited Investor: An investor who is legally authorized or authorized for high-risk investments, hedge fund transactions, limited partnerships and angel investor connections.

Acquisition

Inclusion: It is the acquisition of a company by another company and its inclusion.

Adtech (Advertisement Technologies)

Advertising Technologies: A general term for software and tools that help agencies and brands target, deliver and analyze their digital advertising efforts.

Advisory Board

Advisory Board: People who support entrepreneurs by explaining which path they should follow.

Agile Development

Agile Development: It is a software development method that reduces the overheads in software systems and aims to respond quickly to the desired changes without causing major changes.

This method: It places more emphasis on working software than extensive documentation.
It aims to work with the client rather than contracts on paper.
It quickly adapts to change according to the feedback received from the customer.
Iterative approaches software development.

Alpha Version

Alpha Version: It is the preview version. Usually not all features of the software are complete. Errors continue to be corrected at this stage.

Angel Investor

Angel Investor: A wealthy individual who provides capital to ventures, usually in exchange for stocks and convertible debt.

Anti Dulition

Share Reduction / Blocking: It is the position of the current share as the opposite of dilution, which means the decrease of the shareholder’s share in the company. If the capital of the company is increased by a significant amount, participating in the related increase can be given as an example.

Awesome Journey

Awesome Journey: It is used for Failed Startups to look at the positive result from the experience.

B2B (Business-to-Business)

Business to Business: A form of transaction between businesses involving a manufacturer, wholesaler or a retailer. It refers to business conducted between companies, not between a company and an individual consumer.

B2C (Business-to-Customer)

Business to End User: It refers to the process of selling products or services of a business directly to the end user.

B2G (Business to Government)

Business-to-Government: Business-to-government or business-to-management is a derivative of business-to-business marketing and doing business. It is referred to as the market definition of public sector marketing. It encompasses marketing products and services to various levels of government through integrated marketing communications techniques such as strategic public relations, branding, marketing communications, advertising and web-based communications.

Balance sheet

Balance sheet: It is a financial statement that reports the assets, equity and liabilities of a company in certain time periods and serves as a basic tool for calculating return rates and evaluating capital structure.

Barter

Barter: Direct exchange of goods and/or services between businesses.

Beast Mode

Creature Mode: The situation where the very busy business owner enters.

Beautytech (Beauty Technologies)

Beauty Technologies: It is the name given to initiatives that produce solutions for the needs of corporate companies working to beautify the appearance of individuals and individuals.

Benchmarking

Benchmarking: Benchmarking is examining the ways in which other businesses operate in order to increase the competitiveness of a business and make its performance more successful. The business techniques of other businesses in the sector are examined, their techniques are compared, and as a result of these evaluations, the person applies them in his own business.

Best Execution

Best Practice: A process or system that produces very good results for performing a particular activity and is exemplified by other companies.

Beta Version

Beta Version: It is the software version that has undergone system tests and deficiency tests in the first version.

Biotech (Biology Technologies)

Biotechnology: A science-driven industry sector that uses living organisms and molecular biology to produce health-related products and therapeutics or to run processes. Biotechnology is known for its growing importance in medicine and pharmacy, and is also applied in other fields such as genomics, food production and biofuel production.

Black Swan

Black Swan: An unpredictable event typically with extreme consequences.

Bootstrapping

Growth with Equity: It is the situation where the entrepreneur starts her company with little capital (with her own capital) or with the money she earns from the business..

Funding a company only by reinvesting initial profits; from “pulling yourself up by
your own bootstraps.”

Brainstorming

Brainstorming: It is a teaching technique that develops the creative thinking power of the individual, in which more than one person comes together and exchanges ideas with each other without discussing their ideas on a subject. A group method for obtaining new ideas and solutions

Brand

Brand: It is a tangible and intangible concept consisting of a name, logo, concept, word, symbol, design, picture and a combination of all these, which serves to promote the goods and services of one or a group of manufacturers or sellers, to distinguish them from their competitors and to differentiate them from their competitors. A brand is also an identity and personality that represents a business or a product or service.

Trademark Registration

Provided that it enables to distinguish the goods or services of an undertaking from the goods or services of another undertaking, it can be displayed by drawing or expressed in a similar way, including personal names, in particular words, figures, letters, numbers, the form or packaging of goods, can be published and reproduced by printing. All kinds of signs are called Trademark, and the registration of these brands with authorized institutions and organizations, that is, their protection by being registered, is called Trademark Registration.

Brand Registry

Break-Even Point

Breakeven Point: The point at which all costs (fixed and variable expenses) and total sales (revenues) of a business are equal. After reaching this point, the income obtained in the determined time period becomes profit.

Brownfield Investment

Brown Field Investment: It is a type of foreign direct investment that takes place in the form of purchasing or leasing a facility or company that is currently active.

Build-Measure-Learn Cycle

Build-Measure-Learn Cycle: This cycle, which creates the Lean Startup culture, is a cycle that enables progress by taking quick reactions instead of spending long times to produce a product.

Burn Rate

Money Burn Rate: It is the rate at which entrepreneurs spend their cash/assets. In other words, it is defined as the rate at which a new company consumes its initial capital to cover its fixed costs before cash begins to come from the business’s business activities.

Business Model Canvas

Business Model Canvas: Describe where the startup or company is, its goals, revenue/expenditure structure, value proposition, customer, marketing activities, key components, etc. It is a business model that shows its features and makes it easier for the investor/mentor to see them at a glance, to get information about the venture or company and to brainstorm.

Business Plan

Business Plan: A project; Written document stating its purpose, justification, targets, outputs, activities and methods to be implemented, duration, expected economic gains, personnel to be employed and necessary budget items.

C2C (Customer-to-Customer)

Customer-to-Customer Sales: It is a revenue model where people make e-sales with other people. In the C2C e-commerce model, consumers come together on an e-commerce site and exhibit their products/services, and the buyer consumers buy that product/service from the e-commerce site.

CAC (Customer Acquisition Cost)

Customer Acquisition Cost: The cost of acquiring an existing paying customer to purchase a product/service. In other words, the fee we incur to acquire an existing user/customer.

Capital

Capital: Financial capital is any economic resource measured in money that entrepreneurs and businesses use to buy what they need to produce their own products, or money they use to provide their services to the sector of the economy, i.e. retail, corporate, investment banking, based on their activities.

CEO (Chief Executive Officer)

Main responsible manager.

CFO (Chief Finance Officer)

Chief financial officer of the venture.

CGO (Chief Government Officer)

Manager responsible for government relations in the enterprise.

CGO (Chief Growth Officer)

Manager responsible for enterprise growth.

Churn Rate

Loss Rate: It is the ratio of total customers to customers lost by a venture in a given time period. A low Churn Rate is a criterion sought by investors.

Cloud Technologies

Cloud Technologies: Cloud computing, also known as cloud computing; It is an internet-based data storage service that allows data sharing between all devices such as computers, phones, tablets and servers without time and space restrictions.

Co-Financing

Co-Financing: It is a statement stating that the costs that will arise during the project in an R&D project will be covered by both the project owner and the grant funder institution.

Co-Founder

Founding Partner: If the number of people who founded the venture/company/organization is more than 1, the partners are called co-founders. People who join the post-establishment team can also be founding partners/co-founders.

Co-Investment Fund

Joint Mutual Fund: It is a mutual fund created by more than one investor to invest jointly.

Co-Working Space

Co-Working Space: These are the places where work spaces can be rented with a membership, with various opportunities in flexible time periods. Its users can be people from different fields such as entrepreneurs, institutions, artists, students, researchers.

Cohort

Cohort: People who have a certain common trait (workers in a business, students in a school, born in a certain year, etc.).

Communities

Communities: They are the formations of people and institutions that are interested in certain specific fields and formed by coming together. They play an important role in facilitating the work of other members by sharing experiences among community members, as well as keeping them up to date by feeding each other.

Convertible Debt

Convertible Debt: This concept allows entrepreneurs who do not have their own resources to borrow at lower interest rates. In other words, instead of borrowing with the current interest rates in the market, the need for financing is solved with lower interest rates.

COO (Chief Operations Officer)

The manager responsible for the operation of the enterprise.

Copyright

Copyright: It means that the rights related to the use and dissemination of a product are given to certain persons by law. It is also defined as the legal rights on the products created by the individual with all kinds of intellectual labor. The symbol of copyright that many of us are actually familiar with is the letter “C” in a circle. The letter © indicates that the copyright of the product it is on is protected and means the English word “copyright”. Despite the possibility of confusion, the letter indicating that the brands are registered is the letter ‘R’ in the circle.

Core Talent
Core Talent: It is the knowledge, skill and ability that distinguishes a business from other businesses, plays a role in realizing the vision of the business, and cannot be easily imitated by competitors.

Corporate Firms
Corporate Firms: Enterprises whose operational processes are not dependent on a single person are called corporate companies. Every work to be done in corporate companies is planned in advance, depending on certain rules, principles or corporate culture. Therefore, each department has an expert manager or employees. Employees know in advance what to do and how. In institutionalized companies, personnel work with the management of their department, not with the management of a person at the top. A person’s lack or thought does not change the overall functioning.

CPA (Cost per Acquisition)
Cost Per Acquisition: It is the cost of acquiring an existing non-paying customer to purchase a product/service. In other words, the fee we incur to acquire a non-existent user/customer

CPC (Cost per Click)
Cost Per Click: Any campaign/advertisement etc. It is the cost incurred per opening/clicking on the content.

CPV (Cost per View)
Cost Per Impression: Google etc. A pay-per-impression bidding method on display ad networks. In other words, the fee you pay for the advertisement you place on the relevant platform to appear to a user.

Creative Disruption
Creative Destruction: It is the process of industrial mutation that constantly revolutionizes the economic structure from within, constantly destroying the old and creating the new.

CRM (Customer Relationships Management)
Customer relationship management: The practice of using tools, technology, and processes to collect and analyze customer data and then use that information to create a better customer experience. Basically, CRM is the combination of data and actions to build stronger relationships with customers and ultimately improve business performance.

CSO (Chief Security Officer)
Manager responsible for security processes in the enterprise

CTA (Call-to-Action)
Call to Action Button: CTA, which stands for Call to Action, is the action instructions created for the target audience to take the next step in the marketing activities process. This method, called a call to action in our language, is frequently used in online marketing.

CTO (Chief Technology Officer)
Chief technology officer at the enterprise.

CTR (Click Through Rate)
Clickthrough Rate: The ratio of users who clicked on a particular link to the total number of users who viewed a page, email, or ad. It is displayed as a %.

CX (Customer Experience)
Customer Experience: It refers to how a company interacts with its customers at every stage of the customer journey, in marketing, sales, service and every imaginable point. It is the sum of all interactions between the customer and the brand.

CX Map (Customer Experience Map)
Customer Experience Map: It is a map consisting of every point where the user comes into contact with your product and the interactions that occur at every touch point.

Datathon
Datathon: It is a weekend-long online competition based on solving difficult issues through business cases from different fields of Machine Learning, Artificial Intelligence and Data Science. Teams work 48 hours to find a solution to a real business problem based on the datasets provided. Then, together with the jury evaluation, awards are given to those who can realize the solution or find the most creative solution method.

Design Thinking
Design Thinking: Using the approaches of designers with people in the focus to find solutions to innovation needs at strategic, tactical and operational levels. The methodology can be used by anyone who wants to find human-oriented solutions to their problems and who needs innovative and creative solutions, without being specific to any unit or group.

Dilution
Share Reduction: Dilution, which means the decrease in the shareholder’s share in the company, may occur as a result of share sale or non-participation in capital increase. If the capital of the company is increased by a significant amount, the decrease in the share ratios of the economically weaker parties is an example of this issue.

Disruptive Innovation
Disruptive Innovation: It refers to innovations that radically change the existing system in a market, destroy the existing order and introduce a new way of doing business.

DNA Model
DNA Model: It is the model that examines the business in 3 groups as design, needs and desires. It answers the how, what and why questions.

Dogfooding
Dog Feeding: It means that companies use and try their own products so that they can detect the error in their products.

Donation
Donation: It is the non-refundable support provided to the project owner in order to cover the costs incurred in the process of a project from the idea stage to the achievement of the targeted performance values.

Drag Along
Drifting Together: If the major partner sells their shares, the minor partners must also sell. This is called drag along.

Due Diligence
Due Diligence Process: In the process of a company purchasing another company or investing in an investor; The research of the company, the entrepreneur, the business idea and the market is called due diligence. Due diligence refers to a process that includes the examination of the company’s financial statements and legal documents and the determination of the deficiencies at the end of the examination, and the determination of the price to be taken as a basis for bargaining.

E-Commerce
E-Commerce: It is a shopping method that allows you to trade or place an order for any product or service on a website with various payment methods.

Early Adopter
Early Adopter: A customer who buys a newly released product or service as soon as it is released.

EBITDA

EBITDA: Earnings of a company before interest, depreciation, tax; It is an accounting measure calculated as a representative of the company’s current operating profitability, deducting the company’s revenues, interest expenses, taxes, depreciation and amortization.

Edtech (Education Technologies)
Educational Technologies: The combination of computer hardware, software, and educational theory and practice to facilitate learning. Educational technology creates, uses and manages technological processes and educational resources to help improve the user’s academic performance.

Elevator Pitch
Elevator Speech: It is a short presentation in which an entrepreneur demonstrates his/her abilities to introduce himself/herself to a stranger, express business ideas and persuade others in as little as an elevator ride (30-60 seconds). Another reason why this style of presentation is called elevator speech comes from the fact that the always busy CEOs only get the chance to catch the gaps of the entrepreneurs like in the elevator, catch them in the 30-second gap and present their idea.

Engagement

Engagement: Written or verbal agreement regarding the work to be done. Business connection.

Entrepreneurship Ecosystem
Entrepreneurship Ecosystem: It is the scope of all stakeholders who are interested in entrepreneurship and are in communication and cooperation with each other. Entrepreneurship Ecosystem, startups, programs, competitions, investment funds, service firms, corporate companies, crowdfunding platforms, government grants and incentive funds, communities/associations, student clubs, trainers/mentors/advisors/coaches, news & content resources and study areas creates.

Equity
Equity owned by the owners on the ownership of anything are called equities.

Exit
Exit: It is the dismissal of companies that have been incorporated and reached a certain level, by completely transferring them, taking into account the future value of the company. The founders who are shareholders can “exit” from their shares before, if they wish, or they can stay in the company by continuing to be a shareholder in line with the agreement after the company “exit”.

Exit Strategy
Exit Strategy: When planning a business, it is deciding how to end it. When starting work, the decision on what to do when it comes to a certain point should be made at the beginning. Exit strategy is not something that is needed when things go wrong. An exit strategy should be determined while the business is still in the establishment phase. It is very important to determine an exit strategy, especially in sectors where change is rapid.

Feasibility Report
The feasibility report is the economic, technical and financial research at the stage of starting a business or investment, and as a result of these researches, it is the report studies that reveal whether the investment is profitable or not.

Femtech (Female Technologies)
Women’s Technologies: A term applied to a category of software, diagnostics, products and services that often uses technology to focus on women’s health. This sector includes fertility solutions, period tracking application, pregnancy and nursing care, women’s sexual health and reproductive system health services.

Fintech (Finance Technologies)
Financial Technologies: Initiatives that combine financial services with technology, producing services in areas such as mobile payment, money transfer, income and expense tracking, credit and crowdfunding.

Firm Evaluation
Company Valuation: In the event of a company changing hands, it is the transaction made to determine the assets and activities, as well as the tangible amount appraised.

Firm Merger
Company Merger: Companies can reduce competition, increase efficiency, ensure the regularity of raw material supply, etc. They may enter into the body of another company for reasons or they may merge to form a new company. The merger of companies by transfer or merging to form a new company is called company merger.

First Mover Advantage
First-to-Market Advantage: A business advantage that a company gains by being the first to introduce a new product or service to the market. This commercial advantage can often come in the form of industry leadership in that product or service.

Foodtech (Food Technologies)
Food Technologies: It is a new type of business that emerges from the combination of the technology around us and the food industry. The intersection between food and technology; It can also be called the application of technology to improve agriculture and food production, supply chain and distribution channel. Foodtech we often associate with food innovation. Food innovation includes the design and development of new food products, improvement or combination of existing food products, research on food trends, and food management.

Founder
Founder: A person who initiates, establishes or establishes a business, an organization or an enterprise.

Freemium
Freemium: It is a membership model in which a business offers its products or services to its customers for free on a limited basis and then requests a subscription for extra features. It is often used in internet-based businesses.

Gamification

Gamification: Education, sales, etc. of game thinking and all the factors that make the game a game. use in the fields.

GDPR
General Data Protection Regulation: It is a regulatory and supervisory institution established to ensure and oversee the protection of personal data.