Top Tips to Manage and Forecast Your Business Cash Flow
Cash flow is the lifeblood of any business. Without it, even profitable businesses can struggle, while those who master it gain stability, growth, and financial confidence. As an outsourced CFO, I’ve helped countless business owners get a grip on their cash flow; and trust me, it’s not as complicated as it sounds. Here are simple, […]
How to Analyse Your Business’ Financial Position
Keeping a close eye on your company’s financials is essential in planning a business strategy. Every company should pay attention to its current financial state. It can be of immeasurable value for future business ventures and financial projections. Not to mention serve as an orientation point when deciding on the direction in which the company […]
Top Eight Tips for Accurate Cash Flow Forecasting
Do you want to know how your business and cash will perform in the future? Apply the following methods to improve your cash forecasting. Forecasting your company’s cash flow helps minimise potential risks and indicate if the company is in a position to go after opportunities and grow. Correct cash flow management is a given. […]
Four Tips for Improving Your Decision Making Process
Making the best choice for your business can often prove challenging. Luckily, there are ways to make your decision making skills better. People who can make the right decision at a moment’s notice are always well-respected among their peers. It might seem like this ability comes naturally. But in reality, it’s a skill you can […]
Cash Flow 101: 6 Key Terms You Need to Know
Cash flow is the lifeblood of your business. It’s what allows you to pay employees, suppliers, and other creditors on time so that you can continue doing business. However, many small-business owners don’t really appreciate how cash flow works or how to improve their cash flow situation. Here’s a basic introduction to cash flow and […]
The importance of bookkeeping for all businesses
Whilst it’s an unusual topic for an outsourced finance director to talk about, the importance of accurate bookkeeping for all business should not be underestimated. Bookkeeping is the fundamental foundation of all financial reporting. The saying goes, ‘Garbage in, garbage out’ and that’s never truer than when you are talking about business accounts. Without accurate […]
Impactful reporting: A management reporting framework for success
Many business owners are familiar with the need for a profit and loss account and balance sheet reporting. However, fewer may understand the value of creating a management reporting framework that encompasses wider key performance indicators. Management reporting is vital for monitoring the health of the business, understanding variances to plan and making key strategic […]
Strategic Financial Management for your Manufacturing Business
Running a manufacturing business is complex and keeping control of the finances is no exception. Although most manufacturing business owners understand the need for compliance and financial accounting, the benefits of strategic financial management may be less obvious. Manufacturing is a cash-intensive business and cash could be tied up in working capital for weeks or […]
How can I reduce business costs?
As business owners, how much profit we make is key to whether our business is viable or not. There are several ways to determine if your business is successful but ultimately, if you are not making a profit, most of us will struggle to maintain a business at a loss. Knowing how much money is […]
How much should I charge for my services?
Or, “What prices should I charge for my goods or services?” This is a simple question, and one that the majority of business owners will ask, and the answer changing over time. Pricing is the money charged to a customer in exchange of goods or services. The price you charge for your goods or services […]
