Small Business Glossary: N
NASDAQ: The world’s first electronic stock market, which lists thousands of companies from dozens of countries in all industry sectors, and handles more IPOs than any other U.S. stock exchange. Originally an acronym for the National Association of Securities Dealers Automated Quotations, NASDAQ is now used as a proper noun.
National Do Not Call Registry: A program sponsored by the U.S. Federal Trade Commission designed to give consumers the choice to reduce the number of unsolicited telemarketing calls they receive. Once telephone numbers are registered, telemarketers covered by the law have 31 days to remove the registered numbers from their call lists. Numbers can be registered at www.donotcall.gov.
need profiling: Determining a customer’s current and future needs based on direct contact by a service provider and resulting in insights that contribute to development and marketing of services that fulfill the customer’s needs in an efficient and effective manner.
net profit; net earnings; net income; bottom line: The difference between a company’s total revenue minus all expenses, resulting in a figure reflecting what the business has made over the financial report period.
network: 1. (verb) To develop contacts or exchange information with others to further a career or business. 2. (noun) The people who constitute your networking contacts.
news conference; press conference: A meeting staged to share an announcement with reporters and editors from a wide array of media outlets; used for news that should be shared in person and simultaneously rather than sequentially.
news leak: The unauthorized public disclosure of confidential information through the news media, often to the detriment of an organization's public reputation.
news release; press release: A written document or audio or video piece delivered or sent electronically to news outlets to present information that the sender hopes will be included in print, broadcast, or online news or feature coverage; a tool used to generate publicity.
nibble: When a buyer requests extras or discounts on a purchase that he or she has already officially made.
niche marketing: Targeting a narrow market segment comprised of consumers with specialized interests and needs, and focusing all product development and marketing efforts precisely on that audience. An approach that is successful if the segment is small enough to have been overlooked by other businesses but large and accessible enough to deliver sufficient sales volume.
noncompetition agreement; covenants not to compete: Generally found in employment contracts, noncompetition agreements between an employer and employee are intended to restrict the employee from competing against the employer for a certain period of time when the employment relationship is ended. Such agreements often also prohibit the employee from using or revealing proprietary information gained while working for the employer.
nonessential assets: Items of value that a company may sell without threatening the strength of its operations and profitability; often called nonoperating assets and included on the balance sheet under the category of assets.
nonexempt employee: A nonsalaried, often nonprofessional employee who is paid for each hour worked and who is subject to Fair Labor Standards Act (FLSA) provisions including payment for overtime.
nonprofit corporation: A legal corporation founded with a purpose other than the creation and distribution of profits to its owners; typically granted tax-exempt status by relevant taxing authorities.
nonprofit organization; not-for-profit; NPO: One of a group of organizations that include charities, churches, trade unions, and education, recreation, and public arts organizations that do not seek or produce profit, instead using surplus funds generated to pursue organizational goals. Usually organized under the Internal Revenue Code and tax-exempt.
normalized earnings: Adjusting actual earnings of a business to account for nonrecurring events or cyclical conditions that resulted in unusual gain or loss not likely to be repeated in the future.