How to Run Your Business from the Beach
Achieve What you Want with Your Business Think of wakening to the sun beaming through the windows, and you looking out to the sea. Clearly you are not in Glasgow and if you read on you will realise it is not only in dreams that this can happen. My approach with Business Owners is to […]
How Managing Your Cash Flow Will Help Your Business Thrive!
I often find myself repeating that if you are not managing your cash flow, you are not managing your business. I believe that cash really is King, so here are my two rules for running a business. So, it’s incredibly important for you, as a business owner, to understand where you are, where you’ve been, […]
Fluctuating Profits? Track Stock And Work In Progress Monthly
Fluctuating Profits and the Importance of Tracking Stock and WIP Do your profits fluctuate widely every month for seemingly no good reason? If they do, then you might want to consider your stock and work in progress (WIP). Many businesses only calculate their stock and WIP at year-end, however doing that could be driving inaccuracies […]
Survive the Cash Flow Crunch: Understand Profit And Cash
What is the difference between profit and cash? As a business owner, it’s important to understand the difference between Profit and Cash. Profit is derived from your sales – the money you make after subtracting your costs. But, what happens when your customers don’t pay for 30 or 60 days? You still need to pay […]
EBITDA: Unlocking the True Cash Flow of Your Business
Understanding EBITDA Are you looking to understand EBITDA and how it helps you evaluate the trading performance of your business? If so, you’re in the right place! What is EBITDA and how it is used? EBITDA stands for Earnings Before Interest, Tax, Depreciation, and Amortisation. Basically, it’s a metric that helps you understand the cash […]
Busting the Finance Myth for Business Owners
Prioritise your Numbers As a business owner, you have a lot on your plate. From managing operations to making critical decisions, it’s understandable that you may feel overwhelmed at times. However, there’s one thing that should always take priority, and that’s understanding your business numbers. However, if you believe the finance myth, it may be […]
3 Quick Tips To Improve Your Quotation Win Rate
Focus On Your Quotation Win Rate And Stop Wasting Your Time! Tired of spending hours on quotations and estimates for work that never comes through? You’re not alone. Many companies have a hit rate of only 10% when it comes to quotations and estimates. But, there are ways to maximise your quotation win rate and […]
Selling Your Business: What Is Your Exit Number?
You Need To Understand Your Exit Number In Advance When it comes to selling your business, it’s important to have a clear idea of your real exit number – the amount of money that you need to have in order to make your life comfortable for the rest of it, and to take care of […]
How To Get Funding For Your Business
Give Funders What They Need: Accurate And Useful Financial Information Are you struggling to know how to get funding for your business? Do you find it difficult to communicate your business’s financial health to potential funders? If so, then you need to understand these two simple truths: Knowing Your Numbers Will Help Secure Funding As […]
Unlock The Secrets Of Understanding Your Balance Sheet
Why You Can’t Afford To Ignore Understanding Your Balance Sheet It’s often said that every business owner should have a good understanding of all their financial statements, especially understanding your Balance Sheet…but why? Well, think of it this way. Your balance sheet is like a report card for your business, that shows you how much […]