Untitled Deck Flashcards by MEMPHIS WETTERMAN

Q

A

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Q

Term

A

Simple Definition

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Q

Revenue

A

Money a business earns

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Q

Passive Income

A

Money earned without extra work

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Q

Licensing

A

Permission to let others use your designs for money

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Q

E-commerce

A

Selling products online

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Automation

A

Using tools to do tasks automatically

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Delegation

A

Giving tasks to someone else

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Profit

A

Money left after expenses

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Q

Scalability

A

Ability for a business to grow easily

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Q

Operational Efficiency

A

Doing business tasks in a smooth, organized way

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Q

Intellectual Property (IP)

A

Legal ownership of creative work

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Q

Return on Investment (ROI)

A

Profit compared to money spent

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Q

Stakeholder

A

Anyone who cares about or is affected by the business

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Q

Workflow

A

The order of tasks to get work done

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Q

Break-even Point

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A

When revenue equals expenses

Q

Creative Energy

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A

Mental and emotional capacity to create art

Q

Pop-up Event

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A

Temporary sales or display event

Q

Subscription Program

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A

Customers pay regularly for products/services