Causeit, Inc. Knowledgebase

credit card terminal

Sean Magee — Thu, 24 Feb 2011 20:46:35 +0000

In order to process credit card transactions, every business needs a way to ‘capture’ the card information, ideally at the time of the transaction. Credit card terminals do this while checking the card information against huge databases of information to ensure the transaction is not fraudulent. Online terminals do this online. An online terminal is the same thing as an online gateway.

BEP: break-even point

Sean Magee — Thu, 24 Feb 2011 20:40:18 +0000

The point where total costs equal total revenue; where loss ends and profit begins to accumulate. Also known as "I'm not to the jackpot but at least I don't have to keep borrowing from the day job. Phew."

Semantic Web

Causeit, Inc. — Sun, 30 Jan 2011 18:39:59 +0000

The semantic web is a general term describing a movement towards having machines be able to understand the meaning of data. Using schemas designed for the purpose, semantic-web-enabled technologies are able to parse the concepts, terms and relationships of data flows.

The applications of the semantic web are broad, but the concept is still in relative infancy. It is possible that broad application of the semantic web will pave the way for more advanced artificial intelligences, and will allow for smarter searching and analysis of the information explosion described by leading technologists.

PEO: Professional Employer Organization

Sean Magee — Fri, 12 Nov 2010 21:02:53 +0000

The PEO model pools employees from many small companies into a larger group, giving small and mid-sized companies access to a greater depth of resources, best practice advice, and an economy of scale for fundamental services—such as human resources.

TCO: Total Cost of Ownership

Sean Magee — Fri, 05 Nov 2010 20:25:16 +0000

The total cost of ownership is a financially calculated number that estimates the total direct and indirect costs of owning an asset such as a product or system. For example, the total cost of ownership of a car is not just the purchase price, but also the expenses incurred through use such as repairs, insurance, and fuel. Said another way, it's not just the silk shirt, but the dry-cleaning, too.

Errors & Omissions Insurance

Causeit, Inc. — Wed, 15 Sep 2010 06:02:23 +0000

Errors & omissions (E&O) is a type of insurance coverage designed to cover for human failures. Rather than other coverages which are designed primarily to protect you and your business or organization from outside forces, like weather and theft, E&O coverage makes sure that mistakes you or your team make which adversely impact your clients are covered for. For example, if an event-oriented company, like an ice sculpture service, had an error in their contract and mistook the delivery time of a sculpture, properly-configured E&O coverage could refund the client.

Participatory Media

Causeit, Inc. — Wed, 08 Sep 2010 15:00:29 +0000

Participatory media is an overlapping space of owned and earned media. Rather than owned media, which typically encompasses channels which are mostly one-way, such as static pages, videos, and blogs, participatory media may be characterized by opportunities for rich interactivity with visitors.

Examples:

My Starbucks Idea, which engages everyday visitors in the question of what they would do to change Starbucks and to change the company's involvement in the world.
Pepsi Refresh
American Express OPEN Forum
Dell's IdeaStorm

Relevant Tools:

Batchbook CRM (for monitoring social media activity of your clients and contacts)

CODB: Cost of Doing Business

Causeit, Inc. — Sun, 05 Sep 2010 03:03:26 +0000

The cost of doing business is a term roughly encompassing general overhead costs (both fixed and variable), including the cost of goods sold (COGS) and/or cost of services rendered (COSR). In other words, both keeping the doors open and register staffed.