Hi welcome to G o y, lateral shoots on any plant, are the shoots that come off the main stem or trunk, which is referred to as the leader, or lead shoot, Derek.

You need to prune a pointsetta in early spring but ensure you are watering it correctly before you start - Use pruning shears - cut each stem to about eight-inches in length. When pruning, try to leave about three or four green leaves on the shoots - Dont forget to fertilize after you have pruned - you should see lots of growth in the summer - Ken

As Derekm says, 'lateral shoots' just means side shoots (as opposed to the main stem).