Small Business Glossary Terms

Not sure what all the jargon means? Learning how to run a business is like learning a new domain which comes with its own set of social norms and nomenclature. Some of the terms are highly technical or bleeds into the realm of tax, accounting, legal, and compliance, which can make it all the more confusing.

Here are some of the terms that we have encountered that we think small business owners might find a definition helpful.

Marketing Terms

Above the Fold

‘’Above the fold’’ means the content that is displayed without requiring the user to scroll down the page anymore. This term has its origin in the newspape

Alt Text

Alt text (short for alternative text) is a short description that is added to the images on the web.

Backlink

A backlink is a hyperlink from one website to another website. It acts like acknowledgment or reference to the fact that the information in the linked site

Brand Guidelines

Brand guidelines, often called brand style guides, are essential rules that define how the brand is presented commercially. The guidelines cover the com...

Buyer Personas

Buyer personas are detailed descriptions of your ideal customers.

CAC

Customer Acquisition Cost is the cost incurred by a business to get one new customer. This cost comprehends all the general and specific expenses when

CRM

Customer Relationship Management (CRM) is a technology system and a strategy designed to manage a business's interactions with current and potential custom

Call to Action

A Call to Action (CTA) is a general call for action in the context of contemporary content design that encourages the readers to act. This could be anythin

Canonical Tag

A canonical tag is an HTML element included in a page's webpage or source code typically (i.e. rel=canonical). The tag is meant to signal to search engines

Chatbot

A chatbot is a software application companies use to converse with users online. Chatbots utilize artificial intelligence (AI) to respond to any given prom

Cost Per Acquisition

The amount of money spent on a marketing campaign divided by the number of acquisitions generated by that campaign. An acquisition can refer to any action

Cost Per Impression

Cost Per Impression (CPI) is the amount of money spent to get 1,000 views or impressions of an advertisement. A more commonly used term is Cost Per Thousan

Customer Segmentation

Customer segmentation is the process of clustering the large consumer or business market into smaller markets based on the common characteristics of the co

Discord

Discord is a social media platform designed for communities to communicate efficiently within larger groups. Discord facilitates private and public convers

Follow Link

Follow links are backlinks, also known as inbound links, that instruct search engine crawlers to follow the hyperlink to the linked site. These links indic

GDPR

The General Data Protection Regulation (GDPR) is a set of regulations enacted by the European Union (EU) to protect the privacy and data of individuals wit

Google Featured Snippets

Google Featured Snippets are supposed to be brief, concise responses to user queries located at the top of the search result page in Google. They are extra

H1 Tag

An H1 tag is the headline of a webpage. It’s the most important heading, used to indicate what the main topic or focus of the content is.

Head Term

Head term, in terms of search engine optimization and digital marketing, is a short, broad keyword or phrase that captures the main topic of a webpage.

Instagram Carousel

An Instagram carousel is an Instagram post that contains more than one photo or video. An Instagram carousel can include up to 10 photos and videos...

Instagram Post

An Instagram post contains either a photo or a video. Posts can be private –shared with only your followers, or public –shared with anyone with an Instagra

Instagram Reel

An Instagram Reel is a feature that allows Instagram users to post a short video posted onto Instagram. Instagram reels range from 15 to 90 seconds long; t

Instagram Story

An Instagram Story is a feature on Instagram that allows users to publish content that will disappear after 24 hours. Instagram stories appear vertically a

Instagram Threads

Instagram Threads is a social media platform that allows users to participate in discussions amongst other users. Instagram Threads users can post short te

JTBD

Jobs to Be Done (JTBD) is a framework for businesses to understand customer needs and motivations by focusing on the specific tasks or goals they aim to ac

Keyword Research

Keyword research is a study of the terms that individuals type in the search engine bar to create effective content and proper marketing strategies. This p

Keyword Search Volume

Keyword Search Volume means the numbers of times people search a specific keyword or phrase within a specific period of time which is usually measured in m

Link Building

Link building is an SEO strategy that refers to placing hyperlinks in other websites that point to your website. The links assist in enhancing the ranking

LinkedIn Post

Posts made and shared through LinkedIn are shown throughout a LinkedIn feed. LinkedIn allows the user to choose the visibility of their post with the ...

LinkedIn Repost

A LinkedIn repost is a feature that allows users to repost and share public posts from other LinkedIn members or pages.

Marketing Funnel

A marketing funnel is a conceptual framework that captures a definite set of stages that the potential buyer goes through before making a purchase. It gene

Meta Description

A meta description is a short overview of what you expect to find on the webpage when it appears in search engine results.

Meta Title

A Meta Title is a short and informative title for a web page shown in the search engine results page and in the browser’s title bar.

No-Follow Link

No-follow links are hyperlinks with a precise HTML tag instructing search engines not to transmit any form of SEO value to the referenced site.

Organic Keyword Rankings

Organic Keyword Ranking means the position of a site or a webpage for the term or phrase with no use of PPC ads or paid listings. It is a list identified b

Organic Traffic

Organic traffic is a visitor to your website through Search Engine Results Pages (SERP) on Google, Bing, Yahoo, etc. On Google Analytics, that visitor can

Pages Per Session

Web analytics incorporates Pages per Session, a parameter that determines the number of pages visited by an individual on one session they access a website

Paid Search

Paid Search involves bidding on keywords so that ads appear at the top of search engine results pages (SERPs) when users search for those terms.

Pay per click

Pay Per Click (PPC) is the name for online advertising where an advertiser pays money whenever someone clicks on their advertisements. It’s basically like

Product Demo

A product demo or product demonstration is a presentation of a product's benefits, showcasing how it works and what value it offers potential customers.

Product Offerings

Product offerings are the assortment of goods, services, and digital products that a company provides to its customers, designed to meet market needs ...

Retargeting

Retargeting is a digital marketing strategy that involves serving personalized ads to users who have previously interacted with content but failed to buy.

SEM

SEM, short for Search Engine Marketing, is a digital marketing approach that aims at promoting the website in SERP, majorly through paid ads. It entails th

Session

A session is the time a person spends and engages on a website.

Site Audit

Site audit is the process of checking a website's efficiency, organization, and content for weaknesses and flaws that compromise usability.

Site speed

Site speed means the time taken by the website’s pages to load the content and display it to users. This pertains to many factors such as the response time

Sitemap

By definition, a sitemap is a map, list, or diagram of a website that provides an organized and easy understanding of the site’s contents and structure as

Substack Newsletter

A Substack newsletter is a feature on Substack where users can publish their content and send it directly to their subscribers via email or the Substack...

Substack Note

Substack Notes is a feature on the online platform Substack where users can share short form content and ideas.

Substack Post

A Substack post is a published content, usually in the form of articles and newsletters. Substack posts are shared through subscriptions, where the ...

Substack Restack

A Substack restack is a feature that allows users to share posts, notes, and comments with their subscribers in Notes. Users can start a new...

Target Demographic

A target demographic is a group of people that a company or business has identified as the appropriate potential customers, who may most benefit from and/o

Time on Page

Time on Page is a web analytics metric that signifies the amount of time for which a page is viewed before the user navigates away.

Title Tag

A title tag is a short description that you can see at the top of a webpage showing an overall vision of what the page is about.

Top Sidebar

A "Top Sidebar" is something generally located at the top part of a site or software interface. Its main function is to help people navigate easily by givi

Unsubscribe Rate

The Unsubscribe Rate is a measurement that indicates how many subscribers drop out of an e-mail list or other communication services during a fixed time.

User Experience (UX)

User Experience (UX) is the research into and design of how people interact with a product, website, or service for an optimal interaction. Good UX focuses

Value Proposition

A value proposition is a clear statement that explains how a product or service solves a customer’s problems (relevance), delivers specific benefits...

Vision and Mission Statements

A vision statement is a declaration of where an organization wants to be. It's an aspirational description that gives people a sense of what ...

Website Footer

A website footer is the section placed on the webpage bottom. It normally contains important information like contact details, copyright notices, and links

Website Header

A website header is a header of each website including a site’s logo, a top navigation menu, and sometimes a phone number and search fields. It acts as a f

YMYL

Google's "Your Money Your Life" refers to content that can have a bearing on a person’s financial status, health condition, safety, or well-being.

YouTube Short

YouTube shorts is a feature on YouTube that allows creators to share and upload short-form video content. YouTube shorts are between 15-60 seconds long and

YouTube Video

A YouTube video is a digital file uploaded to the YouTube platform. Depending on the verification status of the YouTube account, there are specific size an

Business & Finance Terms

401k

A 401k is a retirement savings plan offered by many employers. It allows employees to save for retirement and invest a portion directly from their paycheck

Accounts Payable

Accounts payable (A/P) refers to the money a business owes to its suppliers or vendors for goods & services received by the business but are not yet paid f

Accounts Receivable

Accounts receivable (A/R) represents the money owed to a business by its customers for goods or services delivered but not yet paid for. It is recorded on

Advisory Board

An advisory board is a group of experts who provide non-binding strategic advice and guidance to a business.

Annual Reporting

Annual reporting is the process of a business submitting a summary of its financial and operational activities to a governing body.

Architect License

An architect license is a professional certification that allows an individual to practice architecture legally. This involves designing buildings, ensurin

Articles of Incorporation

Articles of Incorporation are a legal document filed with the state government to establish a corporation legally. These documents provide details about th

Articles of Organization

The Articles of Organization are a legal document filed with a state government to establish a limited liability company (LLC) formally.

Balance Sheet

A balance sheet is a financial statement that summarizes a company's financial position at any time. It lists the company's assets, liabilities, and equity

Big Whales

Regarding sales, big whales are large clients or corporations that can significantly impact economies and markets. Whales are high-value potential customer

Business Insurance

Business insurance consists of various types of coverage that together aim to protect businesses from financial losses that arise from unanticipated cir...

Business Plan

A business plan is a written document detailing a business's goals, strategies, market, and financial forecasts, which are used to guide the company ...

Cash Flow Statement

A cash flow statement is a financial report that shows how much cash a company has generated and used during a specific period. It tracks the flow of money

Certificate of Occupancy

A Certificate of Occupancy (CO or CoO) is an authorization issued by a local government building department certifying that a building complies with all bu

Cold Call

A cold call is when a salesperson calls a potential customer without notice in hopes of selling a product. Potential customers are randomly selected, and c

Compliance Calendar

A compliance calendar is a tool used to organize and track important legal and regulatory deadlines for a business.

Construction Supervisor License

A Construction Supervisor License is an official credential issued by state/local governments to individuals who have demonstrated the requisite expertise.

Consultant

A professional in particular fields of study who advises people and businesses. Consultants are hired for the specific purpose of aiding companies and clie

Convertible Note

A convertible note is a type of loan that startups use to raise money from investors. It's called "convertible" because, instead of paying back the loan wi

Customer Success Manager

A Customer Success Manager (CSM) is a professional responsible for ensuring customers achieve the desired outcomes while using a business's products or ser

Cyber Insurance

Cyber Insurance is targeted towards companies, businesses, and individuals who may experience data breaches. Cyber Insurance companies provide full coverag

Disregarded Entity

A disregarded entity is a structure in which a business is not considered separate from its owner for tax purposes. This means that the business's income,

Doing Business As (DBA)

A Doing Business As (DBA) name is an official state registration that allows a business to operate under a name different from its legal, registered name.

Domestic Entity

A domestic entity is a company that does business in the same state or country in which it is established.

EIN

An Employer Identification Number (EIN) is a unique nine-digit number the Internal Revenue Service (IRS) assigns to identify a business entity for tax purp

Employee Benefits

Employee Benefits are non-wage compensation given to employees on top of their average salaries. These benefits are designed to improve the wellbeing...

FICA Tax

FICA Tax (Federal Insurance Contributions Act Tax) is a U.S. federal payroll tax that funds Social Security and Medicare programs. It is shared between emp

Fictitious Business Name

A Fictitious Business Name is an official state registration that allows a business to operate under a name different from its legal, registered name. It i

Foreign Entity

A foreign entity is a company or corporation that does business in a different city, state, or country than the one it is established in. Foreign Entities

Formation Date

The formation date is the official date when a business entity, like a corporation or limited liability company (LLC), is legally recognized as existing by

Franchise Tax

A franchise tax is a fee businesses must pay to a state government for the right to operate or be incorporated in that state. Unlike income tax, it's not b

Freelancer

A freelancer is a self-employed individual who picks and chooses jobs to work for him or herself. Freelancers can choose any desired project and are not bo

General Business License

A general business license is a permit issued by a local government that allows an individual or company to conduct business within that jurisdiction.

Good Standing

Good standing refers to a business's status when it has met all legal requirements, such as paying taxes and filing necessary documents on time.

Household Employee

A household employee is any public or private worker hired to perform housework duties around and inside the house by an employer.

IRA

An Individual Retirement Account (IRA) is a type of financial savings account designed to help individuals save for retirement with tax advantages. There a

Income Statement

An income statement is a financial document that summarizes a business's revenues, expenses, and profits or losses over a specific period, such as a month

LLC

A Limited Liability Company (LLC) is one of the most common business structures in the US for its simplicity and flexibility. Its primary value is to ...

LLP

An LLP is a business structure where all partners have limited liability protection, which means they aren’t personally responsible for the business's debt

LP

An LP is a business entity with two types of partners: general and limited. Each has different roles and liability to the business.

Mercantile Tax

Mercantile tax is a local tax imposed on wholesale, retail, or service-based businesses. It is usually calculated based on a business's gross revenues with

NAICS Code

The North American Industry Classification System (NAICS) Code is a standardized system used to classify business establishments by their economic activiti

P.O. Box

A P.O. box is a separate mailbox for people who wish to store mail in a secure location at a fee. They are distinctively addressed and located at post offi

PLLC

A Professional Limited Liability Company (PLLC) is a limited liability company explicitly designed for licensed professionals. While an LLC...

Partnership

A Partnership is a business structure where two or more people share ownership, responsibilities, and profits.

Pass-through Entity

A pass-through entity is a business structure in which the company's income, losses, and tax obligations are passed directly to its owners or shareholders,

Pricing & Packaging

Pricing & packaging refer to the process or sequence of steps companies and businesses use to sell their products or services to customers most effectively

Private Mailbox

A private mailbox (PMB) is a safe and private way for people to receive and access their mail.

Private Pilot License

A Private Pilot License is a certification that permits the flight of small airplanes for fun and personal trips but not for paid jobs flying passengers.

Professional Liability Insurance

Professional liability insurance is coverage typically for professionals who offer services, advice, and/or are otherwise contractually bound to perform...

Profit & Loss Statement

A profit & loss (P&L) statement, also called income statement, is a financial document that summarizes a business's revenues, expenses, and profits/losses

Prospecting

Prospecting refers to the process that companies, businesses, and employers go through in order to identify potential customers in the hopes of increasing

Registered Agent

A registered agent is a person or entity (like a third-party service) designated to send & receive legal documents, government notices, and other important

Retirement Contribution Limits

Retirement contribution limits are the maximum amount of money individuals can contribute to their retirement accounts, such as Individual Retirement Accou

Roth IRA

A Roth IRA is a type of Individual Retirement Account that allows individuals to contribute money that taxes have already been paid on.

SAFE

A SAFE (Simple Agreement for Future Equity) is a financial tool startups use to raise capital during early-stage funding rounds. Popularized by Y Combinato

SCAC Code

The Standard Carrier Alpha Code (SCAC) is a unique two-to-four-letter identifier code used by transportation companies, particularly those involved in inte

SEP IRA

A Simplified Employee Pension (SEP) IRA is a type of Individual Retirement Account (IRA) intended for self-employed individuals and small business owners.

SIC Code

The Standard Industrial Classification (SIC) code is a four-digit system for categorizing industries. Established by the U.S. government in 1937, SIC codes

SIMPLE IRA

A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a retirement account for small businesses and self-employed individuals.

SSN

A Social Security Number (SSN) is a nine-digit number issued by the U.S. Social Security Administration (SSA) to U.S. citizens, permanent residents, and te

Sales Tax

A sales tax is a tax that is applied to the purchase of goods, products, and items. Sales tax varies by state but ultimately influences how much money the

Self-Employed

Being self-employed means working for oneself. Self-employed individuals run their own businesses, take on freelance work, or engage in independent contrac

Sidewalk Cafe Permit

A Sidewalk Cafe Permit is an official approval from a local municipality that enables restaurants and cafes to utilize public sidewalks for outdoor seating

Solo 401k

A Solo 401k is a retirement savings plan designed for self-employed individuals or small business owners with no employees other than a spouse. It offers s

TIN

A Taxpayer Identification Number (TIN) is a nine-digit number used by the Internal Revenue Service (IRS) and other government agencies to track both indivi

TIN Matching

TIN Matching is a service the Internal Revenue Service (IRS) provides that allows payers and authorized agents to verify the accuracy of Taxpayer Identific

Terms of Service

The Terms of Service (ToS) are rules and guidelines that users must agree to follow to use a website, app, or online service. These terms outline the right

Traditional IRA

A Traditional IRA (Individual Retirement Account) is a retirement savings account offering tax-deferred investment growth. Contributions may be tax-deducti

Unemployment Insurance

Unemployment insurance is the government's financial assistance to individuals who have lost their jobs due to unforeseen circumstances, through no fault o

Zoning Permit

A zoning permit is an authorization from a local government that allows property owners to use or develop their land in a way that complies with zoning law