Why take ownership of your financial and cash-flow plans?
Let the Book keeper and/or Accountant deal with all the finance matters of your business, right?
ABSOLUTELY NOT! It is your business and you need to know your numbers! Properly understanding the numbers and what they are telling you, is vital for understanding your business and its underlying health.
You can delegate the task but not the responsibility – if it goes wrong, the problem is yours not the book keeper’s or the accountant’s. Without proper financial measurements and controls your business will struggle to reach its full potential … or worse!
What do we find?
We see far too many small businesses in financial trouble because the owner/manager didn’t have a proper grip on the numbers. Many leaders of small businesses don’t have a finance background; they tend to be entrepreneurs and technical people and may not have ever focused on ‘Management Accounts’, ‘Cash Flow Forecasting’ or ‘Budgeting’. A book keeper may keep track of daily movements and an accountant may file the statutory reports as required under law, but the power of knowing, understanding and directing the numbers is not harnessed. The good news is that it’s not rocket science and we can help you set the right things up, ask the right questions, and understand the answers. You can then use your book keeper and/or accountant to produce the information you need to inform your business decisions.
How can we help?
We will work with you to implement quality financial controls and processes to put you in the driving seat! Focusing on the production of timely and accurate management accounts and a detailed cash flow management process, we’ll help you measure key metrics against your pre-planned financial forecast. This will show you where you are winning and losing and allow you to set plans to improve and develop. And sleep at night.
In or last article, “Measuring What’s Important” we discussed key performance indicators or KPIs. There are lagging KPIs such as financial measures that tell you what just happened and leading KPIs that indicate what your financials are likely to look like.Read More
Following on from our previous blog in this series, “The Most Important Thing”, the next step is to translate your goals into action. For this, setting your targets and measuring your performance against them is vital to making them happen.Read More
What do you want to achieve in your business? Every owner manager had their reasons for why they started out on that journey – what are yours? And more importantly, are they still valid, are you on track, or are your hopes and desires being frustrated?Read More