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.

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Let's shape the future. Together.

Let's shape the future. Together.

Let's shape the future. Together.