Entrepreneurs lead change every day. The world keeps evolving because of the great work they plan for tomorrow. If you are already an entrepreneur or just passionate about entrepreneurship, this post is for you! This entrepreneurship vocabulary list will help you understand the keywords in running start-ups and leading change.
If you follow most of my posts, you will find that I always mention networking as the key to launching and running successful businesses. But, when you attend one of the networking events and meetings that gathers entrepreneurs in different industries, you will find that they use a language they all understand and refer to in their conversations.
Let’s dig in to know some of these words with their meanings (by the way networking is one key word that I assume you already know by heart):
Pitch (at the top of the entrepreneurship vocabulary at all times)
That’s my absolute favorite one. I think you will never get enough of hearing this too.
When you pitch your business idea, you present and advertise it to others. As a result, you convince others to invest in your business or make a business deal with you regarding your business. That said, the pitch is a word you will rarely see alone. A pitch deck is most commonly used instead. AKA marketing or investor deck, these are short presentations that you use to quickly and timely tell others about your business and highlight the investment you need.
Lucky for you, we have an entire page dedicated to pitch decks with clear and easy-to-use templates to help you in your business. Don’t miss it!
Side Hustle
We all know that millennials love a good side hustle—to fuel both their passions and their wallets.—
Alissa Carpenter
Entrepreneurs are the ones who created this, and then everyone followed. The idea of doing other work besides your regular job to add to your skills and pocket was rare for everyone.
Entrepreneurs are adventurers who keep sight of their goals and look for every way to achieve and learn more. They curiously look for opportunities they can contribute to and benefit from. If you, as an entrepreneur, do not have your side gig, I strongly encourage you to learn more about what you can do and how to find something that fits you. Upwork can be a good place to start.
Venture Capital
This describes financing that you, as an entrepreneur and an emerging company owner, receive from investors for your business. The venture money is meant to last for a while and usually involves providing your company ownership to your venture capitalist. If you present to potential investors how your business will sustain and grow over time, it will be easier for them to sign cheques and hand them over to you. So, to acquire that for your business, ensure that you have prepared a strong and concrete venture capital pitch deck.
Accelerator and Incubator (A common in every entrepreneurship vocabulary list)
Because we have talked in many articles about these two specifically, I will only mention snippets about them.
Incubators and accelerators offer early-stage companies support and mentoring throughout the entrepreneurship process. Incubators are mainly focused on supporting early-stage startups. However, accelerators take on businesses that already have a solid foundation to build upon.
Your business stage’s status will determine the group you must contact for support and funding.
You can check other related articles if you’d like.
Final thoughts
For some, this will be very repetitive and redundant. However, I have met entrepreneurs who needed to learn these terms or understand how to expand their businesses using them. Pitch decks, venture capital, incubators, and accelerators are critical to consider in your business plan and portfolio. Also, remember to find an edge and have a side hustle with your daily work to continue adding.
Finally, contact one of our freelancers if you would like a consultant to help you plan out any of the presentation decks.
Meet The Author Of This Article
I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.
Also, if you need help planning your business, I recommend checking out some of our freelancer’s business plans or pitch decks!
