Who wears the CFO hat in your business?

Who wears the CFO hat in your business? CFO stands for Chief Financial Officer.  It’s a term used mainly in larger businesses, but is just as relevant to smaller business, in that someone has to do it irrespective of their job title.   For some the business owner or a family member may also be

Using Numbers to grow Sales, Profit and Cash

Using Numbers to grow Sales, Profit and Cash Business owners seeking improvement will benefit by adding the following to business growth plans and strategies. Consider the impact of the numbers below on your product or service and your market.   The numbers to consider are those that guide you to the desired outcome of sustainability,

Linking KPIs to business goals

Linking KPIs to business goals   How do you currently track and drive your business? Financial Statements – Profit & Loss and Balance Sheet? Cash flow forecast? Job Profit & Loss? Financial Budgets Quotes? The whiteboard? Are you satisfied with the KPI’s you have?   Measure, manage, improve…repeat! ‘If you continue to do what you’ve

How KPIs can help you reach business targets

How KPIs can help you reach business targets   There is an old saying ‘If you aim at nothing, you will hit the target with amazing accuracy!’ We would all like a ‘silver bullet’ in our business that creates that wonderful profit we seek.  The reality is that there isn’t one!  There are lots of

Don’t fly blind in business. Focus on these five key areas.

Don’t fly blind in business. Focus on these five key areas. Do you sometimes feel like your head is spinning with everything you need to be ‘on top of’ in your business?  There’s a phone call from a customer to deal with, a staff member off sick, a product to fix, the bank manager to

An ‘Early Warning’ System For Your Business

An ‘Early Warning’ System For Your Business Business isn’t the only place for clear objectives and goals.  Ask any ‘Life Coach’ and they will likely tell you, life can be greatly enhanced by having clear goals and plans to achieve them. In business they are generally referred to as ‘Key Performance Indicators’ (KPIs).   There

The 6 tools businesses need to get their finances in shape  

  Good financial management doesn’t happen by accident.  It requires organization and systemization, but it doesn’t need to be too complicated.  Here are some simple tools to help you get organized.    Accounting software With accessibility of cloud-based systems that are linked to bank accounts, it’s easier than ever to keep track of all your financial

5 Steps To Supercharge Your Stock Management, Cash Flow and Profit!

Do you want simple ways to better manage your stock?   Here’s 5 Steps to Supercharge your Stock Management, Cash Flow and Profit Firstly, think of stock as dollar bills piled up on your stockroom floor! To reduce the money tied up in stock you need to manage it better. Step 1 – Getting The

Quick Guide to ‘Work In Progress’ and its Impact on Cash Flow

When you’re in a service business Work In Progress Days (WIP Days) is a vital number to be in control of.  WIP Days is the number of days, on average, that jobs are in progress prior to invoicing. One way of calculating this measurement is as follows: Days WIP = Total Current WIP/Direct Costs x

How To Stop Wasting Money In Your Business!

Like to know how to make more money in business? The easiest way to stop wasting money in your business is to use a simple tool – a Budget. When/Why should businesses review their budgets? Budgets should be reviewed monthly. This can be done by entering a budget into accounting software and printing an Actual