Glossary – What Our Terms Mean
The purpose of this glossary is not necessarily to invent new terms but to define what the terms mean in the context of this resource.
There may be debate about the definitions, but at least we all understand what is meant.
Abandon
To abandon some endeavour does not feel a lot like success, but that’s just a point of view. There is a lot of merit in the belief that it is better to try and fail than to fail to try, and to then live out your life not knowing whether your idea (hypothesis) would...
Brand
From: Brands and Branding - What is a brand? by Tom Blackett, P13.The Oxford American Dictionary (1980) contains the following definition:Brand (noun): a trade mark, goods of a particular make: a mark of identification made with a hot iron, the iron used for this: a...
Break Even
The break-even point is reached when your total sales revenue (total sales revenue = per unit price × number of units sold) completely covers all costs (both fixed and operational); this is the point where further sales result in profit being created.Clearly, you want...
Business Model
Introduction The definition of Business Model depends on the frame of reference or context, but each definition consists of an exchange of value, such as exchanging a dollar for a loaf of bread. It is naïve to go into business making stuff you enjoy making and...
Business Plan
A Business Plan is a document setting out a business's future objectives and strategies for achieving them.Oxford Dictionary, 2019. For further reading: Business Plans – When Are They Needed?Cargo Cult Business Advice – First Create a Business PlanWriting A Business...
Business Resultant®
Glyn Davies, Business Resultant® NOUN A Business Resultant® is a person who: Provides expert business advice with radical honesty, radical transparency, and integrity. Aspires to and practices the highest ethical and moral standards. Is genuinely and manifestly...
Business Strategy
Wikipedia: Strategy is a high level plan to achieve one or more goals under conditions of uncertainty, often when resources are limited.Strategy generally involves:setting goals,determining actions to achieve the goals, andmobilizing resources to execute the...
Cargo Cult
Cargo cult behaviour or science1 is the semblance of doing things right, essentially simply going through the motions, regardless of the merits or probability of the activity engaged in to create or lead to the desired results. 1 “In the South Seas there is a cargo...
Cash Flow Forecast
A Cash Flow Forecast (CFF) is a forecast, prediction, or projection of future cash performance over a period such as six or twelve months. A CFF can help to answer the questions, “where will my money come from, where will it go, and how much, if any, will I have...
Cash Flow Statement
A Cash Flow Statement (CFS) or the statement of cash flows, is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company. The CFS measures how well a company manages its cash position, meaning how well...