Most business owners do not know what their financial position will be next month let alone three, six or twelve months in advance. What impact would knowing where your business will be financially in say, three months’ time have on your business? Here are five steps to get you on the road to foretelling the […]
Do you know what your financial position is going to be like in three months’ time?
October 4, 2011 by 1 Comment
Why is there a difference between my Profit and Loss Statement and my cash flow?
September 27, 2011 by Leave a Comment
The most confusing area for small business owners can be understanding what is actually happening in their accounts. Product based industry The biggest challenge that product based industries face is the actual product they sell – stock. The key element to understanding the difference between your profit and your cash flow lies in a number […]
The Missing Link Syndrome
September 20, 2011 by Leave a Comment
Did you know that more than 87% of small business failures are because they do not understand the money side of their business? That is a scary statistic isn’t it. And one that should not be taken lightly! This statistic is the basis of my ‘Missing Link Syndrome’. Most business owners do not have a […]
How to understand what your accountant is saying!
August 30, 2011 by 1 Comment
All professions have their own jargon and accountants speak a language foreign to most business owners called ‘accountanese’. Just the same as website designers and IT guys speak a language I call ‘ITgeekspeak’. Do you sometimes feel overwhelmed when you leave your accountant’s office thinking, ‘Why can’t they just speak English?’ You have just spent […]
Will Your Customers Pay You?
July 30, 2010 by Leave a Comment
– The failure rate for firms with a negative cash flow is 214% higher than those with a positive cash flow. – More than 80% of business failures are related to cash flow pressures rather than general business performance or poor sales. – Smaller firms (those with up to 20 employees) are more likely to […]
