33 terms you need to know if you’re growing your business
February 1, 2021
What is a “growth hacker” anyway? B2B (Business to Business) comes with its own terminology toolkit. If you’re coming from a B2C world (business to customer), or connecting with the B2B network for the first time, these are the key terms that will help.
Key terms in the scale-up world you need to know!
BHAG
Big hairy audacious goal - Don’t ask us why it’s hairy, the point is a large company wide goal. It should be so audacious that there’s only a 50% chance of making it.
Customer Churn
The percentage of customers that stop using a company’s product or service over a certain period of time.
DACH, EMEA, APAC, LATAM, NA/NAFTA
Global marketing regions:
DACH= Germany, Austria, and Switzerland
EMEA= Europe, the Middle East, and Africa
APAC= Asia Pacific
LATAM= Latin America (South America)
NA/NAFTA= North America
GTM
Go To Market - Normally used when referring to a company's strategy when launching.
NPS/ENPS
Net Promoter Score / Employer Net Promoter Score - The customer rating of their likelihood to make a recommendation.
OKR
Objective Key Results - Used as a measurable target for short term goals.
SaaS
Software as a Service - To use this in a sentence, “RocketX is the ideal company to help Saas companies grow (if you work for a SaaS company, click here).
UX/UI
User Experience/User Interface - Used when talking about a customer facing product such as an app or a website.
Sales terms in the scale-up world you need to know!
MQL
Marketing Qualified Lead - This is a potential customer that is sourced through the marketing operation.
SDR
Sales Development Representative - This is a member of your sales team who focuses on inbound leads and moving them through the sales funnel.
SQL
Sales Qualified Lead - Similar to a marketing qualified lead but sourced through sales outreach instead.
SQO
Sales Qualified Opportunity - This is the stage after MQL/SQL where a member of your sales team has taken the lead to the next stage on the customer journey.
Recruitment terms in the scale-up world you need to know!
There aren’t that many recruitment specific terms. That said, we still have 1 to share:
RaaS
Recruitment-As-A-Service - A unique offering from RocketPeople that gives your company a multidisciplinary team for less than the price of an internal recruiter (find out more here).
VC/Fundraising terms in the scale-up world you need to know!
Angel Investor
A high net worth individual who provides financial backing for a small startup or entrepreneur, usually in exchange for significant equity.
AOV
Average Order Value - A useful metric for businesses that sell multiple products.
ARPU
Average Revenue Per User - A useful metric for businesses with a subscription model or have longer lifetime customers.
Bootstrapped
An entrepreneur/small business that has no external investment (they’ve pulled themselves up by their bootstraps)
Bridge Loan
A loan/injection used between funding rounds.
Due Diligence
In the investment context, this is the process done to work out the potential value of an investment.
EBIT
Earnings Before Interest and Taxes.
ICP
Ideal Customer Profile.
Incubator/Accelerator
An incubator helps a startup develop, through training, services, office space or similar. An accelerator is similar but for business at a later stage, providing services such as recruitment or investment. We at RocketX are an accelerator.
MVP
Minimum Viable Product - Think of this as a consumer ready prototype, the basics are there but it will develop over time.
Run Rate
This is the financial performance of a company, using the current situation to predict future growth (if all other factors stay the same).
Seed Round
This is the traditionally first stage of fundraising for a business. The company exists, there is at least an MVP, and the company is looking to find investment so it can grow.
USP
Unique Selling Point - Every great company has one of these.
RocketX exists to help scale-ups scale up. Whether it’s with recruitment, venture capital, marketing and sales, or helpful key terms guides.
What is a “growth hacker” anyway? B2B (Business to Business) comes with its own terminology toolkit. If you’re coming from a B2C world (business to customer), or connecting with the B2B network for the first time, these are the key terms that will help.
Key terms in the scale-up world you need to know!
BHAG
Big hairy audacious goal - Don’t ask us why it’s hairy, the point is a large company wide goal. It should be so audacious that there’s only a 50% chance of making it.
Customer Churn
The percentage of customers that stop using a company’s product or service over a certain period of time.
DACH, EMEA, APAC, LATAM, NA/NAFTA
Global marketing regions:
DACH= Germany, Austria, and Switzerland
EMEA= Europe, the Middle East, and Africa
APAC= Asia Pacific
LATAM= Latin America (South America)
NA/NAFTA= North America
GTM
Go To Market - Normally used when referring to a company's strategy when launching.
NPS/ENPS
Net Promoter Score / Employer Net Promoter Score - The customer rating of their likelihood to make a recommendation.
OKR
Objective Key Results - Used as a measurable target for short term goals.
SaaS
Software as a Service - To use this in a sentence, “RocketX is the ideal company to help Saas companies grow (if you work for a SaaS company, click here).
UX/UI
User Experience/User Interface - Used when talking about a customer facing product such as an app or a website.
Sales terms in the scale-up world you need to know!
MQL
Marketing Qualified Lead - This is a potential customer that is sourced through the marketing operation.
SDR
Sales Development Representative - This is a member of your sales team who focuses on inbound leads and moving them through the sales funnel.
SQL
Sales Qualified Lead - Similar to a marketing qualified lead but sourced through sales outreach instead.
SQO
Sales Qualified Opportunity - This is the stage after MQL/SQL where a member of your sales team has taken the lead to the next stage on the customer journey.
Recruitment terms in the scale-up world you need to know!
There aren’t that many recruitment specific terms. That said, we still have 1 to share:
RaaS
Recruitment-As-A-Service - A unique offering from RocketPeople that gives your company a multidisciplinary team for less than the price of an internal recruiter (find out more here).
VC/Fundraising terms in the scale-up world you need to know!
Angel Investor
A high net worth individual who provides financial backing for a small startup or entrepreneur, usually in exchange for significant equity.
AOV
Average Order Value - A useful metric for businesses that sell multiple products.
ARPU
Average Revenue Per User - A useful metric for businesses with a subscription model or have longer lifetime customers.
Bootstrapped
An entrepreneur/small business that has no external investment (they’ve pulled themselves up by their bootstraps)
Bridge Loan
A loan/injection used between funding rounds.
Due Diligence
In the investment context, this is the process done to work out the potential value of an investment.
EBIT
Earnings Before Interest and Taxes.
ICP
Ideal Customer Profile.
Incubator/Accelerator
An incubator helps a startup develop, through training, services, office space or similar. An accelerator is similar but for business at a later stage, providing services such as recruitment or investment. We at RocketX are an accelerator.
MVP
Minimum Viable Product - Think of this as a consumer ready prototype, the basics are there but it will develop over time.
Run Rate
This is the financial performance of a company, using the current situation to predict future growth (if all other factors stay the same).
Seed Round
This is the traditionally first stage of fundraising for a business. The company exists, there is at least an MVP, and the company is looking to find investment so it can grow.
USP
Unique Selling Point - Every great company has one of these.
RocketX exists to help scale-ups scale up. Whether it’s with recruitment, venture capital, marketing and sales, or helpful key terms guides.
What is a “growth hacker” anyway? B2B (Business to Business) comes with its own terminology toolkit. If you’re coming from a B2C world (business to customer), or connecting with the B2B network for the first time, these are the key terms that will help.
Key terms in the scale-up world you need to know!
BHAG
Big hairy audacious goal - Don’t ask us why it’s hairy, the point is a large company wide goal. It should be so audacious that there’s only a 50% chance of making it.
Customer Churn
The percentage of customers that stop using a company’s product or service over a certain period of time.
DACH, EMEA, APAC, LATAM, NA/NAFTA
Global marketing regions:
DACH= Germany, Austria, and Switzerland
EMEA= Europe, the Middle East, and Africa
APAC= Asia Pacific
LATAM= Latin America (South America)
NA/NAFTA= North America
GTM
Go To Market - Normally used when referring to a company's strategy when launching.
NPS/ENPS
Net Promoter Score / Employer Net Promoter Score - The customer rating of their likelihood to make a recommendation.
OKR
Objective Key Results - Used as a measurable target for short term goals.
SaaS
Software as a Service - To use this in a sentence, “RocketX is the ideal company to help Saas companies grow (if you work for a SaaS company, click here).
UX/UI
User Experience/User Interface - Used when talking about a customer facing product such as an app or a website.
Sales terms in the scale-up world you need to know!
MQL
Marketing Qualified Lead - This is a potential customer that is sourced through the marketing operation.
SDR
Sales Development Representative - This is a member of your sales team who focuses on inbound leads and moving them through the sales funnel.
SQL
Sales Qualified Lead - Similar to a marketing qualified lead but sourced through sales outreach instead.
SQO
Sales Qualified Opportunity - This is the stage after MQL/SQL where a member of your sales team has taken the lead to the next stage on the customer journey.
Recruitment terms in the scale-up world you need to know!
There aren’t that many recruitment specific terms. That said, we still have 1 to share:
RaaS
Recruitment-As-A-Service - A unique offering from RocketPeople that gives your company a multidisciplinary team for less than the price of an internal recruiter (find out more here).
VC/Fundraising terms in the scale-up world you need to know!
Angel Investor
A high net worth individual who provides financial backing for a small startup or entrepreneur, usually in exchange for significant equity.
AOV
Average Order Value - A useful metric for businesses that sell multiple products.
ARPU
Average Revenue Per User - A useful metric for businesses with a subscription model or have longer lifetime customers.
Bootstrapped
An entrepreneur/small business that has no external investment (they’ve pulled themselves up by their bootstraps)
Bridge Loan
A loan/injection used between funding rounds.
Due Diligence
In the investment context, this is the process done to work out the potential value of an investment.
EBIT
Earnings Before Interest and Taxes.
ICP
Ideal Customer Profile.
Incubator/Accelerator
An incubator helps a startup develop, through training, services, office space or similar. An accelerator is similar but for business at a later stage, providing services such as recruitment or investment. We at RocketX are an accelerator.
MVP
Minimum Viable Product - Think of this as a consumer ready prototype, the basics are there but it will develop over time.
Run Rate
This is the financial performance of a company, using the current situation to predict future growth (if all other factors stay the same).
Seed Round
This is the traditionally first stage of fundraising for a business. The company exists, there is at least an MVP, and the company is looking to find investment so it can grow.
USP
Unique Selling Point - Every great company has one of these.
RocketX exists to help scale-ups scale up. Whether it’s with recruitment, venture capital, marketing and sales, or helpful key terms guides.
