Numbers are everywhere, and for the most part, we just ignore them. That is unless we're forced to pay attention to them when it comes time to do our monthly taxes or budget. But, for most people numbers don’t seem interesting. And this is something I’ve seen...
Are thinking of getting a loan? Did you know that there are mistakes in borrowing money? So the logical question is: Do you want to know how to avoid those pitfalls? Here are four simple steps to follow so that you can be on your way to avoiding those common mistakes...
Each business plan needs to be meticulously constructed in order to be effectively used in the future. This blog will discuss the final steps of a business plan and give you an overall idea of what needs to be done. The three groups that encompass these final...
Running a business means setting clear goals that you would like to achieve as a business owner. Whether that is to provide services or manufacture products, you must have a defined target and strive to reach it. Certainly, one of your goals should be making...
A successful business is one that is profitable and sustainable but profitability alone is no guarantee of success. There are many stories of seemingly successful and profitable companies going out of business, but what causes profitable businesses to fail? Your...
We're all on a budget, and I bet we've all done budgeting in one way or another. But, before we go into comparing the two, we need to clarify what a budget is. What is a budget? It's really a plan for spending the money you have or the money you expect to have...
Do you see your business numbers as a friend or foe? If you are in business, what is your attitude towards your numbers? Do you like them, dislike them, or is it somewhere in between? That is what we are going to cover in this blog. If you think that money is...
Your business cash story is a big deal. It contributes to business continuity, survival, and growth. Profits are what it all comes down to ultimately, but cash plays its own part in this narrative. Cash is what we see appearing and disappearing from our bank...
Business is all about making a profit, isn’t it? But in accounting, there are several terms used to express different kinds of profit. Ultimately, what should interest you is your operating profit. There are multiple names for operating profit. You might hear...
What is profit? We can define profit as “a financial gain, the difference between the amount earned and the amount spent”. Making a profit is essential for any business. There are several important elements that make up your business story - some more important than...
Decision making when things are calm is not the same as decision making under uncertainty. Because when it’s business as usual, you pretty much just follow the strategy laid out in your business plan, and take action that you’ve planned out beforehand. But...
To understand break even, you first need to know the components involved with business activity. But how do you find out what your business requires to break even? What is break even in business? Your business breaks even when your sales cover all your costs -...
A DIY cashflow forecast in Microsoft Excel. Sound interesting? Then read on: Perhaps not because you aren’t as comfortable dealing with numbers. But, this blog (and vlog) is here to show you that it isn’t scary at all. Especially when someone guides you every...
How to budget your money is vital. Especially when times are challenging, but also when times are good. What is a budget? A budget is a plan for how you will spend your money. It can help you save money and make better financial decisions. Where to start?...
Managing your business risk is something you need to know no matter what kind of business you run. Naturally, there will always be some inherent risk involved when running your business. There's no way to completely eliminate the risk. But by understanding and...
Financial accountability is defined as being responsible for the way you use and manage your money. So, are you financially accountable? Or, maybe you’re finding it difficult? You’re not sure where to start, or you feel like you're constantly falling behind....
Do you want to find out how to make financial projections and how to do it realistically? Here’s an easy-to-understand guide about making financial projections. A financial projection - meaning A financial projection is a forecast of the revenue and expenses...
Are you thinking about the best ways to grow your business? Wondering if you’re doing all the right things to enable growth? Then, read on for our three tips for business growth. More specifically, we are going to look at MCP. MCP is not some new medication or...
Making profit must be at the top of your business goals - ignore that at your peril. Firstly, I am going to tell you why making profit is vital for you and your business. Secondly, I will tell you how you go about making profit. But before we go into that,...
Why on earth should you be bothered about Financial Story Planning ? Launching a small business can be a very exhilarating experience, although it can also be quite overwhelming at the same time. So, with all your goals clearly drawn out, it’s also important...
There are many facets of cash flow and financial planning. For instance, cash flow for small business may be very different from personal financial planning versus financial planning for retirement or financial planning for family. Writing and using your...
Cash is the lifeblood of your business, whatever stage you are at in your businesses. After all, cash is how your business services are sustained and without sufficient levels of money flowing in vs. money flowing out, you will not be able to expand your business, let...
A good budget planner for small business is a must for businesses that want to stay ahead of the competitive curve by keeping on top of their finances . Whether it’s financial management or expense tracking, for example, the right budgeting and forecasting...
There are many different financial decisions that have to be made when running a business. However, managing cash flow is an important part of running a successful business. This is why you should make sure you recognise the importance of cash flow...
Speak to any business owner and they will tell you that long-term success is their goal. In order to get there, it takes preparation and planning which is where financial planning for small business is vital. It enables you to deal with investors, plan for...
There’s no denying that running a business requires you to keep your finger on the pulse. Take your eye off the ball and you’ll soon find that you start to lose a grip on what matters. However, many people struggle to keep control of everything when running...
A lack of forwarding thinking, having no Finance Forecasting is a problem for businesses. It’s much like turning off the light and trying to find your way around an unfamiliar place in the dark. There is very little in the way of direction. While financial...
We have all heard of the saying that cash is king and when it comes to business, it really is. What about the saying “if you fail to prepare, prepare to fail”? This is also true when it comes to business. It’s common to worry about your finances as a business...
When you chose to start a business get to grips with How to Understand your Cash Flow. You might have thought that your idea was a direct route to success. It might well be, but one part of a business is cash flow and you cannot ignore it! Cash in, cash out,...