SOLOPRENEUR GLOSSARY

Term:
Business intelligence

Definition:

A type of information watch that encompasses all other watches, such as social watch, corporate watch, competitive intelligence, business intelligence, supplier watch, image monitoring, legal watch or the old technology.

Term:
Business Model

Definition:

A synthesis tool that describes the ideas, the purpose, the gain, the costs, the activities and the communication of the entire project. It describes the logic with which an organisation creates, distributes and captures value.

Term:
Business Plan

Definition:

Project analysis document with costs and revenues often with medium and long-term prospects.

Term:
Banners

Definition:

A form of advertising on the internet delivered by an ad server. This form of online advertising consists of embedding an advertisement into a web page. It is usually a photograph and a small text which is linked to the website of the advertiser.

Term:
Cloud app

Definition:

Is an Internet-based program where some, or all, of the processing logic and data storage is processed in the cloud

Term:
Community on social media

Definition:

Instead of trying to get as many followers as possible, focus on finding customers who are interested, loyal and engaged. These people are more likely to repost your content, like your posts and become customers.

Term:
Coworking spaces

Definition:

Coworking is a business services provision model that involves individuals working independently or collaboratively in shared office space. The typical user of a coworking facility is self-employed, a telecommuter, or a freelance worker. Some businesses use the spaces to provide employees with equipment, space and services that they could not otherwise afford

Term:
CONSENT

Definition:

Of the data subject means any freely given, specific, informed and unambiguous indication of the data subject's wishes by which he or she, by a statement or by a clear affirmative action, signifies agreement to the processing of personal data relating to him or her

Term:
COSME Programme

Definition:

Aims to make it easier for small and medium-sized enterprises (SMEs) to access finance in all phases of their lifecycle – creation, expansion, or business transfer. It funds the Enterprise Europe Network that helps SMEs find business and technology partners and understand EU legislation. COSME supports entrepreneurs by strengthening entrepreneurship education, mentoring, guidance and other support services.

Term:
CRM

Definition:

Is an approach to manage a company's interaction with current and potential customers

Term:
Deming Wheel

Definition:

The Deming cycle is a continuous quality improvement model which consists of a logical sequence of four key stages: Plan, Do, Study, and Act.

Term:
Destination Developent

Definition:

The identification of the Remote Areas as a unique Destination that must be clearly identified and develop in order ensure that the Remoteness of the destination will become an effective tool.

Term:
Deadline

Definition:

A deadline is a time or date before which a particular task must be finished, or a particular thing must be done.

Term:
Digital technologies

Definition:

Electronic tools, systems, devices and resources that generate, store or process data. Well known examples include social media, online games, multimedia and mobile phones. Digital learning is any type of learning that uses technology. It can happen across all curriculum learning areas

Term:
Dashboard

Definition:

Tool that visually tracks, analyses and displays information.

Term:
Effectiveness

Definition:

The degree to which objectives are achieved and the extent to which targeted problems are solved. In contrast to efficiency, effectiveness is determined without reference to costs and, whereas efficiency means "doing the thing right," effectiveness means "doing the right thing."

Term:
Efficiency

Definition:

Skillfulness in avoiding wasted time and effort.

Term:
Employability

Definition:

Employability is defined by the European Centre for the Development of Vocational Training (Cedefop) in its Skills Panorama Glossary as: a combination of factors (such as job-specific skills and soft skills) which enable individuals to progress towards or enter into employment, stay in employment and progress during their careers.

Term:
Engagement

Definition:

Your businesses need to be interactive in order to take advantage of social capability. Post content that people want to read, ask questions and like, repost and comment on other users’ posts. Start competitions to boost your reach.

Term:
European Social Fund

Definition:

Promotes entrepreneurship through financial and business support services

Term:
European cluster collaboration platform

Definition:

An overview of EU Instruments contributing to the internationalisation of European Business to help improve the knowledge of potential business internationalisation stakeholders on funding possibilities and existing instruments (both direct and indirect) and supporting SME internationalisation beyond the EU.

Term:
Feedback

Definition:

Feedback is helpful in idea development. Getting diverse feedback can offer refinements and be an indicator for the ideas´ future target group.

Term:
Financial Planning

Definition:

Set of financial investment choices that reflect the investor's life goals. Financial data are contained in four financial statements - The balance sheet - The income statement / Profit and loss account / Income - expenses statement - The cash flow statement - The start-up costs budget From those financial statements we can obtain the raw material for further financial analysis.

Term:
Five thinking tools

Definition:

The Five Thinking Tools method derives from systematic inventive thinking that harnesses five thinking patterns; subtraction, multiplication, division, task unification and attribute dependency to generate an innovative.

Term:
FOLLOWER

Definition:

A person who follows or subscribes to another's posts on a social media website

Term:
GDPR (or RGPD)

Definition:

Is the new European regulation on data protection. It will come into force in 2018 and will impact all companies processing personal data on European residents. The GDPR (General Data Protection Regulation) pursues several ambitious objectives: • To standardize the data protection regulation at European level. • Empowering businesses by developing self-control. • Strengthen the right of people (right to access, right to be forgotten, right to portability, etc.).

Term:
Idea generation

Definition:

Idea generation is a process of creating, developing and communicating ideas. There are two ways to construct an idea and turning it into an innovative concept.

Term:
Landing pages

Definition:

Is an independent web page, created specifically for the purposes of a marketing or advertising campaign. It’s the page where a visitor “lands” when they click on a Google AdWords advert or similar. Landing pages are designed with a single objective known as a Call to Action (CTA).

Term:
Mind mapping

Definition:

Mind mapping is a powerful tool to organize ideas and brainstorm. A mind map looks like a tree, the main idea is the trunk of the tree and all connecting thoughts are branches.

Term:
Marketing watch

Definition:

All the techniques that allow the company to listen to its environment (competitors, customers, distributors, macro environment)

Term:
Networking

Definition:

Networking is a socioeconomic business activity by which businesspeople and entrepreneurs meet to form business relationships and to recognize, create, or act upon business opportunities, share information and seek potential partners for ventures.

Term:
Points of Single Contact (PSCs)

Definition:

Are e-government portals that allow service providers to get the information they need and complete administrative procedures online.

Term:
Popup

Definition:

A form of advertising that appears in a new window. It’s a small window that blocks user interaction while we are browsing a webpage.

Term:
Productivity

Definition:

A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs. Productivity is computed by dividing average output per period by the total costs incurred or resources (capital, energy, material, personnel) consumed in that period. Productivity is a critical determinant of cost efficiency.

Term:
PR (public relations)

Definition:

Public Relations professionals help a business or individual cultivate a positive reputation with the public through various unpaid or earned communications, including traditional media, social media, and in-person engagements. They also help clients defend their reputation during a crisis that threatens their credibility.

Term:
PRIVACY

Definition:

Someone's right to keep their personal matters and relationships secret; the right that someone has to keep their personal life or personal information secret or known only to a small group of people

Term:
Remoteness as a destination

Definition:

Taking advantage of the remotness of a place to create an advantage in the economy through tourism.

Term:
Runway

Definition:

The amount of time until your start-up goes out of business, assuming your current income and expenses stay constant. Typically calculated by dividing the current cash position by the current monthly burn rate

Term:
RIGHT

Definition:

Subjective juridical position, protected by law, which consists in the power to assume a certain behavior according to one's interests

Term:
Single Euro Payment Area (SEPA)

Definition:

A project promoted by the European Central Bank and the European Commission which aims to extend the process of European integration to retail payments in euro made by bank transfers, direct debits and payment cards.

Term:
Social media

Definition:

Comprises online communications channels dedicated to community interaction, content-sharing and collaboration. Among the types of social media, we find forums, blogs, social networks, social bookmarks or wikis

Term:
Social media content calendar

Definition:

A calendar to help avoid mistakes and lead to more effective posts. Content calendars also help you create goals and strategies for meeting them and track your progress toward them.

Term:
Streamline

Definition:

To improve the efficiency of a process, business or organization by simplifying or eliminating unnecessary steps.

Term:
Suite

Definition:

An application suite generally consists of two or more software programs delivered within a single executable and installable file

Term:
Systematic inventive thinking

Definition:

Systematic inventive thinking is a technique to create new solutions by looking at an idea or a product from different perspectives.

Term:
SWOT Analysis

Definition:

Analysis used at the organisational level to determine how closely a business is aligned with its growth trajectories and success benchmarks. It will define the Strengths, the Weaknesses, the Opportunities and the Threats of a company.

Term:
Testimonials

Definition:

Written recommendation from a celebrity or satisfied customer affirming the performance, quality, and/or value of a product or service. Testimonials are one of the most potent tools of marketing.

Term:
Time Management

Definition:

“Time management” refers to the way that you organize and plan how long you spend on specific activities. It may seem counter-intuitive to dedicate precious time to learning about time management, instead of using it to get on with your work, but the benefits are enormous: Greater productivity and efficiency; A better professional reputation; Less stress; Increased opportunities for advancement; Greater opportunities to achieve important life and career goals.

Term:
URL

Definition:

Uniform Resource Locator is a unique identifier used to locate a resource on the internet. URLs consist of multiple parts -- including a protocol and domain name -- that tell a web browser how and where to retrieve a resource.

Term:
Value offered

Definition:

Difference between benefits received and costs incurred.