Small Business Encyclopedia

Terms starting with: p

Packaging

Definition: The wrapping material around a consumer item that serves to contain, identify, describe, protect, display, promote and otherwise make the product marketable and keep it clean

Partnership

Definition: A legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships.

Patents

Definition: A form of protection that provides a person or legal entity with exclusive rights for making, using or selling a concept or invention and excludes others from doing the same for the duration of the patent

Payables Management

Definition: The administration of a company's outstanding debts, or liabilities, to vendors for purchases of goods and services made on credit

Payroll Management

Definition: The administration of the financial record of employees' salaries, wages, bonuses, net pay, and deductions

Performance Reviews

Definition: An analysis of an employee's work habits undertaken at a fixed point in time to determine the degree to which stated objectives and expectations have been reached

Permits

Definition: A legal document giving official permission to do something

Podcast

Definition: A podcast is a pre-recorded audio program that's posted to a website and is made available for download so people can listen to them on personal computers or mobile devices.

Point of Sale (POS) System

Definition: A computerized network operated by a main computer and linked to several checkout terminals

Positioning

Definition: How you differentiate your product or service from that of your competitors and then determine which market niche to fill

Press Kit

Definition: A comprehensive package of information outlining a company's products and services most frequently sent to members of the press

Press Release

Definition: A public relations announcement issued to the news media and other targeted publications for the purpose of letting the public know of company developments

Pricing a Product

Definition: To establish a selling price for a product

Pricing a Service

Definition: To establish a selling price for a service

Primary Market Research

Definition: Iinformation that comes directly from the source--that is, potential customers. You can compile this information yourself or hire someone else to gather it for you via surveys, focus groups and other methods.

Private Label Sales

Definition: Licensing your product to another company to sell under its own name, rather than under yours

Product Development

Definition: The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product

Professional Employer Organization (PEO)

Definition: A company that technically "employs" the workers of several other companies and oversees all HR-related functions

Professional Service Providers

Definition: Individuals who provide your company with specialized service, including but not restricted to lawyers, accountants and management consultants

Property Insurance

Definition: Insurance that protects the physical property and equipment of a business against loss from theft, fire or other perils; all-risk coverage covers against all risks; named-peril coverage covers only against specific perils named in the policy.

Prospecting

Definition: The search for potential customers or buyers

Prototype

Definition: A replica of a product as it will be manufactured, which may include such details as color, graphics, packaging and instructions

Public Relations

Definition: Using the news or business press to carry positive stories about your company or your products; cultivating a good relationship with local press representatives

Free Business Tools

Forms

Forms

Download and customize these free forms:

Partnership Agreement

Cashflow Worksheet

Employment Application

Calculators

Calculators

Evaluate and analyze your financials:

Cash Flow

Starting Costs

Discounted Cash Flow

Ads by Google

Latest Articles

The Founder of Nail Polish Empire Essie Shares Advice on Overcoming Challenges
Overcoming Obstacles

The Founder of Nail Polish Empire Essie Shares Advice on Overcoming Challenges

Essie Weingarten wants to remind entrepreneurs that success takes time and commitment.
Nina Zipkin
'Creating Smiles and Stories' for Customers Is Just One of This Mega-Franchisee's Goals
Franchise Players

'Creating Smiles and Stories' for Customers Is Just One of This Mega-Franchisee's Goals

With 74 western U.S. Dairy Queen locations, and 43 years as both franchisor and franchisee, Bill Spae is also focused on growth.
Entrepreneur Staff
Are Sharing-Economy Workers Contractors or Employees?
Sharing Economy

Are Sharing-Economy Workers Contractors or Employees?

Companies in the booming sharing economy depend on contractors who may legally qualify as full time employees. The distinction is crucial for both workers and their employers.
Tx Zhuo
Workplace Safety

12 Ways to Spot a Potentially Violent Person in the Workplace

What happened in Roanoke wasn't the first tragedy and won't be the last.
Robert Siciliano
8 Ways to Do Big-Time Marketing Without Spending a Fortune
Marketing

8 Ways to Do Big-Time Marketing Without Spending a Fortune

When it comes to building your brand, how you spend your money is at least as important as how much money you spend.
Eric Samson
Business Lessons From the Family That's the 'Cake Boss' Empire
Family Businesses

Business Lessons From the Family That's the 'Cake Boss' Empire

The hit show is just the frosted tip of what Carlo's Bakery has grown to be.
Daphne Mallory
5 Back-to-School Tips for Working Parents
working parents

5 Back-to-School Tips for Working Parents

On the eve of a son's departure for college, an Adobe executive ponders the parenting lessons she's learned.
Donna Morris
7 Conferences for Entrepreneurs Under 30
Conferences

7 Conferences for Entrepreneurs Under 30

Even if you've attended a conference that targets young entrepreneurs, perhaps it was run by a different age group and therefore came across as less than authentic. Try these events.
Josh Steimle
4 Harsh Marketing Lessons From 4 Small-Business Owners
Marketing

4 Harsh Marketing Lessons From 4 Small-Business Owners

We don't have the time or the resources to carefully think through everything. So we do a lot of things by our gut. Sometimes things turn out OK. Sometimes, well -- it's not so good.
Gene Marks
8 Secrets to Credible Startup Financial Projections
Investors

8 Secrets to Credible Startup Financial Projections

Investors can't really evaluate any new business, but they can assess the logic behind your numbers, and compare that logic to their experience and rational business norms.
Martin Zwilling
You Asked for It: The Details of How I Built a Seven-Figure Business Without Employees
Starting a Business

You Asked for It: The Details of How I Built a Seven-Figure Business Without Employees

More insights into the growth of my product-based company that can be operated from anywhere in the world with an Internet connection.
Adam Callinan
Teacher Gets to Keep Job Despite Being Tardy 111 Times in Two Years
Employment Issues

Teacher Gets to Keep Job Despite Being Tardy 111 Times in Two Years

Be glad you don't have this guy working for you.
Ray Hennessey
Breaking Bad ... Habits: Beliefs That Stifle Personal Growth
Self Improvement

Breaking Bad ... Habits: Beliefs That Stifle Personal Growth

Believe it. There's actually a type of breakup that's good for you.
Susan Steinbrecher
This Simple Technique Trains Your Brain to Conjure Your Best-Ever Ideas
Ideas

This Simple Technique Trains Your Brain to Conjure Your Best-Ever Ideas

The brain is lightning fast but it still does just one thing at a time.
Dixie Gillaspie
6 Secrets About the Human Brain That Will Make You a Better Marketer
Marketing Strategies

6 Secrets About the Human Brain That Will Make You a Better Marketer

Knowing how the mind processes information and images can help you send the right message.
Ann Handley
More Articles

About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.

Ads by Google