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The importance of having a business coach

It can be lonely at the top when you're running your own business. As the owner manager, the buck stops with you and that can result in all the pressures of financial management, people management, strategy and business performance ending up on your shoulders. To ease this pressure, it's helpful to have a business coach. A coach can look at your business objectively as an outsider, will act as a professional shoulder to lean on, and can help you to focus on and enhance your business ideas, strat...

April 14, 2021

More Blogs HERE

Blog - Leask Accountancy Solutions (ourclienthub.com) For example https://leaskas.ourclienthub.com/how-to-finance-your-business-5-ways-to-consider/ https://leaskas.ourclienthub.com/four-tips-for-improving-your-decision-making-process/ https://leaskas.ourclienthub.com/the-three-kpis-that-every-business-should-track/ https://leaskas.ourclienthub.com/signs-youre-undercharging-for-your-work/ https://leaskas.ourclienthub.com/a-beginners-guide-to-cash-flow-forecasting/...

March 31, 2021

How to increase profit, cashflow and business value

“Not everything that can be counted counts, and not everything that counts can be counted.” - Albert Einstein As a business owner, you must understand which Key Performance Indicators (KPIs) are critical to your business. These are the critical success factors that drive profit, cashflow and business value and are used to measure the efficiency of different business activities. Do you regularly monitor your KPIs to ensure continuous improvement?  Are you measuring the KPIs which ha...

February 19, 2021

What is your competitive advantage?

Why do customers buy from you? Knowing what it is that makes someone choose your products and/or service over your closest competitor is critical business information. Understanding this ‘competitive advantage’ is an important part of making your business stand out in the marketplace. Establishing your competitive advantage will help you create a compelling marketing message and will build value in your business – and this can all be wrapped up in your brand messaging, marketing and sales ...

February 15, 2021

Quick Ways to Improve Your Financial Performance

Even when a business is doing well, there’s always room for improvement. Especially if you want your company to make more money or have better cash flow. Here are three quick ways to improve financial performance that apply to every company, big and small. Rearrange Expenses Some business owners start with the idea that their business needs to make more money to cover all expenses. But what if you reverse the order and see if you can reduce your expenses?Perform an evaluation of your expenses ...

February 4, 2021

Getting ready to exit your business?

When you sell up, you want your business to have as much inherent value as possible – so you get a good price, a great return on your investment and the best possible payout.So, how do you take yourself ‘out of the business’ as the founder, add the best value and set up an effective and financially beneficial exit strategy?Adding value to the company Whether the goal of your five-year plan is an acquisition by a larger corporate, or selling your share of the company to a chosen successor, ...

January 27, 2021

Practice the power of acceptance this year

In a world of unpredictability and stress, our instinct brings cravings to survive, compete, and strive. But acceptance, not a comparison, is what will get us through.“There are ways to find ease in acceptance without negative inner feelings, it just takes practice,” says Nichola Stuart, Founder of the Empowerment Foundation. “Instead of sitting in the ‘uncomfortable chair’, find ways to shift your mindset and develop a sense of empowerment in your new normal.”Be your own cheerleader...

January 27, 2021

Bring your A game (not your O game)

Success in sport is all about playing your 'A game'. Being the best you can be through preparation and training leading up to the game, as well as through your actions during and after the game - showing modesty and humility in success and graciousness in defeat.If everyone on the team plays their 'A game' the results are impressive. So, how do we apply the 'A game' mindset from sport to the workplace?Three A’s that bring it:Appraise: work out who will make up your dream team. Consid...

January 22, 2021

Staying afloat and thriving through a downturn

When the future looks uncertain, what can you do to prepare and strengthen your business?Recent times have certainly shown us that the future path of your business can change in an instant – usually, due to influences that are far beyond our own control. The Covid-19 pandemic and the ongoing global economic recession have both had a negative economic impact on the business world – so, when a downturn strikes, you need to be ready.The key is to be prepared, to have a ‘Plan B’ and to react...

January 20, 2021

What will 2021 bring?

What a year 2020 was… none of us saw that coming! We truly hope that 2021 is an improvement! With major lockdowns in force again, there’s a lot of uncertainty about what 2021 will bring. We learned a lot over the last year and it’s important to take these learning and put a plan in place for 2021.My firm, learned just how agile I can be. From having to wear the ‘Teacher’ hat to delivering our first webinars… although further apart physically. I hope your experience was simi...

January 18, 2021

Government financial support during lockdown – what's available?

As the UK goes into a third period of Covid-related lockdown, with non-essential businesses now closed, it’s important to know what financial support is available from the Government.With your business closed, or running with a skeleton team of essential workers, revenues are likely to have dropped alarmingly – and that’s bad news for your financial stability.To keep cashflow on an even keel, and to get your company through the challenges of the next few months of lockdown and Covid restri...

January 14, 2021

Why I have strategic partners

You are not right for every business but for those that you are a good fit you make a real difference and add measurable value. Your business may compete head-to-head with several other companies, but this doesn’t mean you have to treat ALL other businesses as if they are the competition. In fact, there are real benefits in creating strategic alliances with other like-minded organisations.  When you look at the wider marketplace, you’ll see that there are businesses out there that may w...

November 26, 2020

Planning for a 'no-deal Brexit'

As a nation, we’ve been talking about the potential business impact of Brexit for several years now. But with the 31 December deadline for finalising the UK’s exit from the European Union (EU) growing nearer, it’s vital that your business starts to plan for the coming Brexit changes. As the situation currently stands, the prospect of a ‘no-deal Brexit’ is becoming increasingly likely. This would mean the UK leaving the EU trading block without any meaningful trade deal in pla...

November 9, 2020

Good Vibes Only

It’s human nature to be influenced by the people in your inner circle. In fact, the odds of being successful are a lot higher if you’re surrounding yourself with people who are also successful.In a business context, consider very carefully the people and friends you associate with. Who plays a role in influencing your life? Who are your role models, mentors, and supporters?“You’re the average of the five people you spend most of your time with”.It really pays to think about who your to...

September 28, 2020

What numbers are important to your business?

The Covid-19 crisis has created a “new normal” for businesses. Traditional ways of working are being challenged and we now need to innovate, adapt, re-engineer, and reinvent the way we work. Lockdown gave us time to consider our options, but two important questions often remain unanswered: How will we know if we are on track or not?Are our new plans actually working? It goes without saying that our success needs to be measured. But it’s important for us to know what to measure. Your critic...

September 21, 2020

Scale up your business by doing what only you can do!

If you’re looking to scale your business, you’ll need to spend more time working on it than in it. Finding ways to leverage your time is critical, and outsourcing your least favourite tasks is a great way to do this.Things you should consider outsourcing in your business:Digital marketing. From your content strategy to your social media accounts, if this is not a strength of yours, outsource it! There are many freelancers who have multiple clients at this level, who’ll likely be more knowl...

September 18, 2020

Stop burning through your money - benefits of a personal budget

Having a personal budget is essential to gaining control of your personal finances. Budgeting doesn’t necessarily mean restriction; it frees up your money, so you know exactly what’s available to spend. The top 10 benefits of personal budgeting: Gives you control. Developing your personal budget gives you control over your money. You’ll know how much cash you’ll have coming in and can make a plan for how to spend it.Focuses you on your money goals. Everyone should have goals fo...

September 16, 2020

Clarify and reset your goals in a Covid world

Locking down is tough for everyone; whether you’re a parent juggling work and school from home, can’t work at all, or are busier than ever as an essential worker. Whatever your situation, hopefully you’re on your way to establishing a new normal. If you haven’t yet sat down purposefully to reflect on your unique lockdown experience, now is a good time. Taking stock enables us to process new ideas and opportunities, resulting in clarity and improved goal setting. 12 questions for effectiv...

September 9, 2020

Move your stock after lockdown and beyond

“The difficulty lies not so much in developing new ideas as in escaping from old ones.” - John Maynard Keynes If you sell stock or inventory, it’s essential you understand stock turn and how to increase it.Obsolete, or ‘dead’ stock will harm your cashflow and your ability to increase profit, particularly in a slower-moving economy. The longer stock takes to sell, the longer you have your cash tied up in the stock before it can be sold for a profit. The older the stock, the less li...

September 4, 2020

Shortening your working capital cycle to free up your cash

The impact of Covid-19 has shown us that even profitable businesses can go broke if they run out of cash. Understanding and managing your working capital cycle frees up your cash and helps you build a cash war chest to get you through tougher times. Your working capital cycle is the number of days your cash is tied up to take your goods and services through the sales process. The formula for calculating your working capital cycle is:Stock (or work in progress) days + debtor days - credit days Wh...

August 18, 2020

10 Steps to improving cash flow and working capital immediately

This is a crucial time for businesses facing a coronavirus-induced cash crunch. You’re right to be considering immediate steps to improve your cash flow, particularly over the next twelve weeks. And you’ll also be looking closely at your working capital needs for the next twelve months. You can make savings now immediately. If you’re registered with Swoop we can instantly match you with savings solutions across your everyday spend. I know that it seems a lot but call me to help work out wh...

July 6, 2020

Your Business Recovery Plan

As businesses emerge from Covid-19 restrictions, for many ‘Business as Usual’ has become ‘Business Unusual’. So, how do we start our Game Plan towards a sustainable new normal? During lockdown, we focused on crisis management, activating relevant Government support packages and doing our best to build cash war chests.Now we enter the recovery phase on the way to establishing the new normal. We’ve all learnt lockdown lessons. We’ve discovered risks in our business model that we may no...

July 5, 2020

Control your post-COVID Success

Have you ever met an accountant and assumed you know exactly what they did?  Well keep that thought and read how I do so much more that makes a real difference for my clients. My passion is empowering business owners to be successful by being the best version of themselves.  Recently, I helped Fiona by translating her numbers into English, I LISTENED and advised her for business growth.  Fiona had set up her electronics business a few years ago and was joint MD with her ...

July 3, 2020

Lessons learned in lockdown – for your business and life

Having to shut your business at short notice, or switch to an entirely digital, remote-working model, was a stressful experience. But there are things we have taken out of lockdown. Whether it enabled us to explore new ideas or dive into some fresh thinking regarding work, life or a business venture.So, what lessons did we all learn from this enforced period of business shutdown, quarantine and remote working?Carrying over the positives from lockdownSuddenly, your office space lay empty, your em...

June 8, 2020

Managing a cash crisis

Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated or a large consignment might fail to show up, leaving you out of pocket. If you’re starting a business, it could simply be taking longer than expected to turn a profit. Red light warnings - Develop red light systems to warn you automatically if something needs querying: Check as early as possible if leads, ...

April 7, 2020 Posts 1-25 of 65 | Page next
 

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