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 -...
Building your cashflow forecast might seem unnecessary to some - at a first glance, that is. That's why, this cashflow forecast guide aims to explain why you need one and how to build it. Because, you might be thinking, "I don't need one of those. I'm not going...
Setting the right business targets can seem daunting, but it need not be. We will help you to choose the right targets for your business, and provide tips on how to reach them. Why targets are important The first thing that we want to make sure of is explain...
Are you a business owner who is looking to write a financial plan for your company? If so, you're in luck! In this blog, I will be teaching you how to write a business financial plan that is both accurate and achievable. So, whether you're just starting out or...
Have you ever put off doing something, and then ended up racing to finish the task last-minute? If this sounds familiar the read on: It might be that you’ve been struggling to start work on major tasks just because they feel overwhelming. Hence, you’ve delayed...
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....
How do you assess financial performance? It’s not that straightforward, isn’t it? Knowing how to judge your financial performance can be tricky. It’s because many factors come into play. Plus, it's not always easy to know where you stand. You can get a good...
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...
Profit should be one of your main business goals. Profit is used to build sustainability, monitor, manage, and measure your performance. But what is profit in business, and why is it so important? For most people, profit is the difference between money in and...
Handling business taxes in financial planning is a daunting task for many small businesses. It’s easy to get overwhelmed when it comes to taxes. However understanding the basics helps you make the best decisions for your business. Let’s take a look at some...
Break even in business is more than just a number. If you're like most business owners, you're always looking for ways to cut costs and increase profits. But before you can do either of those things, you need to know your break-even point. What is break even in...
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...
Cash flow forecasts or cash flow planning for startup businesses, for example, has to do with estimating or forecasting your likely future sales and expenses. But why is cash flow for business important? Well, cash flow planning, no matter what kind of business you’re...
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...
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,...