balance sheet

A condensed financial statement showing the nature and total value of a company’s assets, liabilities, and capital on a given date.


Big Hairy Audacious Goal, the giant sweeping vision of a startup founder to change the world.

Board of Directors

A group of people elected by a company’s shareholders (often according to the terms of a negotiated shareholders’ agreement) that makes decisions on major company issues, including hiring/firing the CEO.

Who sits on a startup's board of directors?


The process of recording all of the company’s transactions in a set of books, also known as a ledger. Entries are recorded in accounting software, which will compile reports based on how bookkeepers tag such entries.


Funding a company without external help or capital and reinvesting initial profits.

10 Incentives For Entrepreneurs To Bootstrap Their Startup

bridge loan

A temporary investment instrument used to cover a company’s operating expenses until a future financing.

burn rate

The monthly negative cash flow from a startup.

Basics of Unit Economics for Startups

business model canvas

A strategic management template for developing or documenting business models through a visual chart with elements describing a firm’s value proposition, infrastructure, customers and finances.

Start Planning Today with LivePlan

business plan competition

A program to encourage entrepreneurs to develop plans for new businesses, and sometimes a showcase competition for existing startups seeking financing.


business-to-business (B2B)

When one business engages in commercial interactions with other businesses (one business is the supplier and the other businesses are the customers).

business-to-consumer (B2C)

When a business engages in commercial interactions directly with consumers (the consumer is the end-use customer of the product or services provided).


The purchase of a company or a controlling interest of a corporation’s shares, product line or business. A leveraged buyout is an acquisition accomplished with borrowed money or by issuing more stock.