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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

Your Business Continuity Plan

Due to the emergency situation caused by COVID-19 Richard Fallon and Don Smith invited me to deliver a webinar for the Technology Supply Chain. Businesses in the Midlands need all the help and support they can get and I wanted to do my bit by getting infront of these business leaders who are wanting to seize control back. Contact me for a free 15 minutes phone call to assess how I can best help you. A guide & template are part of the process along with the right level of support.    An...

April 2, 2020

Ways to reduce overheads

If you’ve been reviewing your business’s financial position and are looking for ways to improve your cash flow, one of the first things to look at are your expenses. As your business grows, so will your costs, but there are things you and your employees can do to keep them down as much as possible and so improve your cash flow. It’s important not to rest on your laurels. Continually thinking of ways to reduce your overheads is essential for a healthy cash flow, so conducting regular review...

March 27, 2020

4 Tips for Getting Your Business Through Tough Times

If you're a small business owner whose company hasn't gone through hard times, that's great but it's likely to happen at some point. As much as we dream about being brilliant enough at business that we'll never face slow times, there are many things beyond our control that can negatively affect our business. It’s highly likely that the Coronavirus and it’s resulting impacts, could put some significant pressure on your business.  Here are four tips for getting your business through diffi...

March 27, 2020

Want more money, more time or less stress?

I believe our clients all deserve the three freedoms: Financial Freedom; Time Freedom; and Mind Freedom. In other words, more money and time to spend on important things outside of their business, along with less stress. Is your business stifling your freedom?  Being in business is tough. At times, you might be worried about whether you’ll have enough cash in the bank to pay your team and suppliers. Perhaps you’re working 80-hours a week just to stay on top of things. Or, maybe the stre...

January 6, 2020

How to regain control of your business

Not all business owners want to grow their business. Some may just want more control. Afterall, your business is there to serve you; you shouldn’t be a slave to it. So, how do you regain that much needed control?  There are three essential tools all businesses must have: An annual Business Plan. An annual forecast. Ongoing reporting and accountability.  The annual Business Plan  Your Business Plan shouldn’t be a lengthy document living in a dusty drawer. It sho...

November 14, 2019

The Achiever Matrix - Stop firefighting and take control

Manage your time better and achieve more by prioritising tasks based on their importance. Quadrant 1 is The Quadrant of Urgency:This quadrant represents tasks which are both urgent and important. These tasks might be handling an unhappy customer, meeting a deadline, dealing with a crisis, or undertaking urgent re-work. While we must all spend some time in Q1, many of these activities were important before they became urgent through procrastination or lack of planning and risk mana...

October 28, 2019

Got your business running? Great, now go draw your future

Starting your own business, or regenerating one from within, can be a daunting venture. It is a leap of faith, but also a tantalising opportunity to journey down a different path. Key to establishing a successful business is getting crystal clear on why you’re making this leap into the unknown, and what you want the business to do. Without this understanding, it’s easy to fall back on traditional expectations and to ultimately end up as a cookie cutter business, no different to your competit...

August 9, 2019

Taking the pain out of pricing - how much should you charge?

The answer to how to approach it will fluctuate as circumstances and markets change. It is important to revisit the question throughout the lifecycle of your business. There is no magic formula All businesses are unique, with an individual offering of products and services. Before you set your pricing, It’s important to look at the whole picture. This will help to ensure you are being strategic and not just following trends.Gather the data To get started, you need to gather as much i...

August 7, 2019

Understanding leadership and what role(s) your board plays?

Once your business is incorporated and becomes a limited company, you’ll need to have a ‘board of directors’ in place to provide your core leadership and run the business.But why do you need a company board? And what are the different roles and functions that each member of the board supplies?Your board of directors exists to manage the future success of the business. Whether it’s hiring talent for your senior management team, defining your key business strategy or making decisions on ac...

August 1, 2019

Growth doesn’t need to mean more risk, more hours and more headaches

What’s your business growth looking like and where were you 12 months ago compared to today? If you haven’t given it much thought it is probably because you’re always stuck in the day-to-day operations. But it is worth spending some dedicated time to do some reflecting and planning.Growth doesn’t need to mean more risk, more hours and more headaches. To be successful, you first need to identify where the opportunities for growth are in your business and industry. Then establish what...

August 1, 2019

Hold me accountable, why?

As the quote from Bob Proctor indicates most business owners understand that the only way to ensure something gets done is to document what is expected, assign it to the right person, and set a due date. But what do you do if the task isn’t done? What are the consequences of this inaction? Think back to your school days when you had homework... maybe you were super organised and got stuck in as soon as the work was assigned, or perhaps you completed it on the school bus the morning it was due....

July 11, 2019

Directors need job descriptions too!

Most business owners know that every member of their team needs a job description, which should include: Clearly outlined responsibilities and tasksSome specific and measurable KPIs (Key Performance Indicators)A set of clear expectations around core competencies and behaviour When a job description is clearly documented, it’s much easier to monitor and measure performance. However, as logical as this seems, many business owners fail to do this for their own role as Director of the business So,...

July 11, 2019

Why does a profitable business have no money in the bank?

"Never take your eyes off the cashflow because it’s the lifeblood of the business." - Sir Richard Branson      After delivering a couple of session on managing cash flow properly I thought that I would summarise what businesses should be looking out for and applying to their own circumstances. There’s a massive difference between profit and cash. Let’s explore the differences to make a better plan to increase both. 1. Sales.  Profit increases when you increase sales; ca...

July 5, 2019 Posts 1-25 of 52 | Page next
 

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