Business glossary
You do not have to already know this stuff.
LLC
A limited liability company—a common business structure that can provide separation between personal and business liability. Whether it is right for you depends on your situation.
EIN
Employer Identification Number from the IRS. Often needed for banking, hiring, and taxes—even for solo businesses.
DBA
“Doing business as” name—a trade name you operate under that may differ from your legal entity name.
Registered agent
A person or service designated to receive official legal and state documents for your business.
Business plan
A document describing your business, market, operations, and financial outlook. Useful for planning and some funding applications.
CAC
Customer acquisition cost—what you spend to get a paying customer. Important once you start marketing.
Gross margin
Revenue minus direct costs of delivering your product or service, before overhead.
Cash flow
Money moving in and out of your business over time—not the same as profit.
Lead
Someone who showed interest but has not yet become a paying customer.
Conversion rate
The percentage of people who take a desired action—like buying after visiting your site.
SEO
Search engine optimization—improving how your business appears in organic search results.