Always adding financial management value
Good financial management is as must for every business but it's often ignored and overlooked simply because it's misunderstood. In this blog archive Essex FD Garry Mumford simplifies all things financial and shares with us a lifetime of practical financial business advice.
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How much do your staff cost you?
When businesses assess costs, assets and financial performance, they look at tangible figures, and often miss that their people are a financial issue, too.
No Holiday
All too often, business owners feel that they can’t leave their companies for any length of time, and they go for years at a time without a proper break.
Step 1 to becoming more profitable
Understanding where the profit lies in your business can focus attention but how can you do that if you're not collecting the right data in the first place.
Is your profit an illusion?
If an accountant says you are profitable are you sure it's right? Depending on your numbers, it’s entirely possible that a different accountant might arrive at a different figure altogether.
How to sabotage your business growth
As you begin to grow its easy to delay taking action because it seems risky. The real question to ask yourself is What if I don't professionalise my finances?
Could you function without this key staff member?
Having right people in place is a crucial foundation for your company. As you grow what would happen if one/some left? Can't function? Then you need to change.
Did your company start like this?
When it comes to running a business….. Let’s just say it’s not their forte. I drafted myself in to set up payroll & accounts and take care of finance & admin
The right way to make decisions for your business
To scale your business you need a clear view of your cash flow, a proper budget to work to/measure against, to understand financial consequences and much more.
Which products or services are hurting your company?
Business is profitable, you want to scale, but more of the same won't help if your accounts point in the wrong direction. Profitability breakdowns are critical.
Do you have a growth mindset?
The starter mindset keeps you playing small, focusing on the here and now. The growth mindset helps you think bigger.
The secret to becoming a big company
If you plan for rapid growth make sure you get the financial systems, controls and processes that a big company would have right from the outset.
The most dangerous moment for your company
Don't feel uneasy about your financial position. Get a trusted advisor who has the knowledge to guide your decisions to support the next stage of growth.For information on Insight Associates accounts, FD and financial management services call us on 01279 647447 or Email Us