Resource analysis for your business is what will help you with your business growth and success. Is the current set of supplies helping or hurting your business? Find out in this short blog (and vlog). Types of resources Firstly, we’ll look at what resources...
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?...
Creating and following a financial plan (your financial story) is an important step to taking control of your finances. If you're like most business owners, you know that it's important to have a financial plan in place. But do you know how to effectively use...
Are you looking to be successful in your business but don't know where to start? Most people think that in order to be successful in business, you need to be intelligent, have a lot of money, or know the right people. While these certainly don't hurt, there...
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...
Financial ratio analysis and how to use it is featured in your Numbers Toolkit. Business owners, analysts, as well as investors all use it. I have a vlog about what financial ratio analysis includes and how it’s used. In it, I talk about the four common areas...
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...
In previous blogs (and vlogs), I've looked at turnover and profitability, but this time cash is in the spotlight. So, why cash is important for your business is the topic of this post. I will be answering the following questions: What is cash? Why is cash the key...
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...
Understanding operational gearing: Operational gearing is a term used to explain an important relationship between the two different types of costs of a business - fixed and variable costs. And because any business needs to have a good grasp of their finances...
Running a business is a multi-layered venture. It involves exciting things like creating your services/products, offers, social media content, etc. But it also includes looking after the finances - managing your cash flow. Once that is covered you can enjoy the...
Do you ever feel like you're stuck in a Groundhog Day-style loop of procrastination when it comes to your finances? You know you need to do some planning and organising, but for some reason you just can't get started. The more you put it off, the more anxious...
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...
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...
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...
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,...