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Maxima

Associates

 

Glossary

Accounting Made Easy: Don’t let anyone tell you this is hard. Accounting is only logical and can be explained in very simple language. Basics are Profit and Loss , Balance sheet and cashflow.

 

Budgets Explained: if you are planning for your business' future, you will need to fund your plans. Budgeting is the most effective way to control your cashflow, allowing you to invest in new opportunities at the appropriate time.

If your business is growing, you may not always be able to be hands-on with every part of it. You may have to split your budget up between different areas such as sales, production, marketing etc. You'll find that money starts to move in many different directions through your organisation - budgets are a vital tool in ensuring that you stay in control of expenditure.

 

Cashflow Forecasting: For assessing what your outgoings and income will be at any time of a given period. Needed for understanding if you have enough cash to pay your liabilities and for taking business actions where  it’s inadequate.

 

Creating Organisations: Organising how your people function as efficiently as possible  in your business.

 

Employing people: Creating strong teams depends in part on good recruitment. There are ways to be sure that you find the right people, vet them and embed them in your businesses culture.

 

Financial Planning: This is the generic term that encompasses Budgets, Cashflows , Reporting such as Management Accounting and Statutory Accounting, Funding and Controls.

 

Innovation: Steeping back from what’s considered usual and expected. New ideas can be generated by creative processes and mixed teams.

Internet Strategy: Usually informed by your marketing plan. Should compliment your offline sales. Will include website , content on the site, analytic software to measure traffic and its source plus you may want to pay for some internet tools such as Google Adwords or Social Network advertising such a s Facebook or Linkedin. There should also be a social networking element to an internet strategy.

 

Marketing Strategy: The plan of how you’ll sell your product or service – Price, Position, Target Market all informing your Marketing Plan.

 

Optimising your site:  Once built ,the site needs to be modified so that it is search engine compliant plus usable by visually and hearing impaired.

 

Performance Teams: Learning how to motivate and lead teams , Can be  teams of mixed ability or same ability. Businesses need a strong team running it to grow.

 

Researching Markets: mportant subject at the start of a business , during growth and continuously through the lifecycle - understanding your own sector, its drivers, your competitors and if there is a growing or shrinking market.

 

Social Networking: Linkedin, Facebook, Twitter, etc aim to allow communities to communicate easily. You can have a company page which allows you to communicate with your clients/followers by giving them useful content. Also give  useful links to users websites.

 

Strategic Development : Growing your business by  strategy  rather than letting it drift see Strategic Planning.

 

Strategic Planning: The purpose of strategic planning is to set overall goals for your business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your business is headed and what its priorities should be.

 

Web Development: A website is not a 5 page static tool in the ether. It needs to be regularly updated and added to. Usually has useful and directional words, better if it has video and widgets that give added value to a visitor.