Why Every Business Needs a Financial Fitness Plan

Just like people, some businesses get a little overweight and wasteful from time to time. Business owners, get focused on other things and financial management gets pushed to the back of the priority list. Smart financial management is the backbone of any business. Money coming in and going out needs to flow at the right pace, so that you have funds to do the things you need, such as marketing, employing staff, developing new products and services, investing in assets and so on. This plan covers everything you will reasonably need to know about managing money well. Think of it as a small investment now, to set your business up right for the future.

Profit and Cashflow Management and Break-even

STAGE 1

How to find out your Profit & Cashflow Break-Even
1. Read the Introduction
2. Review Infographic ‘Business Numbers Made Easy - Profit & Cashflow Roadmap’
3. Read eBook ‘11 Steps to Business Numbers Made Easy’
4. Read article on ‘Break-even’
5. Calculate your own Break-even point using our easy calculator
6. Read Bonus eBook ‘What a Business Needs to Get Going and Grow’

Budgeting and Cash Flow Forecasting

STAGE 2

Budgeting and Cash Flow Forecasting
1. Watch the Cashflow Cycle Diagram video
2. Read Article ‘A Financial Roadmap to Peace of Mind’
3. Read eBook ‘9 Smart Strategies to Set Your Financial Roadmap’
4. Use the Budget and Cash Flow template to produce yours

Pricing and Cost Management

STAGE 3

Pricing and Cost Management
1. Read article Price Right? Profit Right?
2. Read article Pricing for Profit
3. Read article COGS=Cost of Goods
4. Read article Margin and Markup Article
5. Use Pricing and Costing Checklist
6. Review 7 KNs Map
7. Read Bonus eBook ‘The 7 Key Numbers that Drive Profit and Cash Flow’

Overheads Management and Getting Paid By Your Customers

STAGE 4

Overheads Management and Getting Paid By Your Customers
1. Read article on Overheads
2. Read article 14 Ways To Cut Fat Not Muscle From Your Business
3. Read eBook ‘ How To Control Your Cash Flow And Keep Some For Yourself’
4. Read article Why You Should Count the Days Until You Get Paid
5. Read eBook ‘How To Get Customers To Pay On Time’

Stock and Supplier Payments Management

STAGE 5

Stage 5

Stage 5 - Stock and Supplier Payments Management
1. Read article Days Payable
2. Read article Days Inventory
3. Read article Four Strategies to optimise inventory management

Quoting and Tendering for work/jobs and Job Management

STAGE 6

Stage 6 - Quoting and Tendering for work/jobs and Job Management
1. Read ‘Quick Guide to Work in Progress and its impact on working capital.
2. Read eBook 6 Steps to better Job Management and Profit
3. Read eBook 8 Pointers to More Successful Tenders and Quotes

Measuring and improving service staff productivity

STAGE 7

Stage 7 - Measuring and improving service staff productivity
1. Read article ‘How managing HR well can positively impact profit’
2. Read How To Measure Profitability In A Service Based Business
3. Read eBook ‘A Complete Guide To Better Performance For A Service Business’
4. Use sample Organisation Chart to work out your own

Your Accounting and Operational Systems

STAGE 8

Stage 8 - Your Accounting and Operational Systems
1. Read Systems = Sanity
2. Read Why Keep It In The Cloud
3. Read Cost Savings In The Cloud
4. Read Is Your Accounting Slowing Your Business Growth?
5. Read eBook ‘Tune Up Your Accounting System’

Business Guidance Reporting and KPIs

STAGE 9

Stage 9 - Business Guidance Reporting and KPIs
1. Review KPI Infographic
2. Read article ‘Discover the KPIs that Drive and those that Measure’
3. Read article Linking KPIs to Business Goals
4. Read article How KPIs Can Help You Reach Business Targets
5. Read article Your Critical Success Factors are your KPIsb
6. Read eBook Using KPIs To Grow Profit and Cash’
7. Read eBook ‘2 Key Drivers to Better Results in Your Business’
8. Read article What Information should You Be Getting as a business manager
9. Read article Boosting Your Bottom Line From The Top

Growth Planning and Securing funds to grow your business

STAGE 10

Stage 6 - Quoting and Tendering for work/jobs and Job Management
1. Read ‘Quick Guide to Work in Progress and its impact on working capital.
2. Read eBook 6 Steps to better Job Management and Profit
3. Read eBook 8 Pointers to More Successful Tenders and Quotes

Business Planning and Time Management

STAGE 11

Stage 11 - Business Planning and Time Management
1. Read article Five Ways To Grow Your Business with a Business Plan
2. Don’t Fly Blind In Business Focus On These Five Key Areas
3. Use Business Plan Template to create yours
4. Are you spreading yourself too thinly
5. Read eBook ‘How To Be A Lean Mean Fighting Machine’

Business Exit Planning

STAGE 12

Stage 12 - Business Exit Planning
1. Plan for Business Growth and Exit
2. A pre sale/exit business checklist
3. Read eBook 10 Secrets to Better Business Value and Sale Price
4. Read eBook ‘Our Guide To Succession Planning - Passing The Baton
5. Read eBook ‘Can You Afford To Retire?’

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