Archive for June, 2010

Why do it?

Wednesday, June 30th, 2010

Most of us have a garden that we take some degree of care of although our motivations might vary; we don’t want to be embarrassed in front of the neighbours, the vegetables need cultivating, the children need somewhere safe to play or, in my case, I want a haven where I can enjoy a good book and a glass of wine or a barbeque with friends.

Businesses need to take good care of their finances too. In this case, once the accuracy has been assured, the motivations will be broadly similar; to improve profitability, ensure controlled cashflow, support decision making and have some degree of control over the future.

Knowing what needs doing and why is usually quite easy to determine. The challenge is knowing who and when. I was hugely grateful to the person that was the solution to much of my gardening challenge and I love being part of the solution for the businesses I work with.

Posted in Financial Planning, Monthly Thoughts | No Comments »

GIGO

Thursday, June 24th, 2010

The great thing about what I do is that it is providing proactive support for the business owner to help them look forward and take control of the numbers in their business.
So, it can be really confusing when the first thing I do is look back over all the historical information but without understanding where the business is coming from and making sure that information is recorded accurately there is no starting point. We may know we want to get to Edinburgh but the route will be quite different if we are starting from London or Cardiff.
Get the base line right and then we can set out on an exciting journey together.

Posted in Financial Planning, Random Thoughts | No Comments »

Finance is Fun!

Sunday, June 20th, 2010

No, really it is and it appears that I may even have convinced a couple of others recently.
As part of the part time FD services that I offer I am usually helping either business owners or their managers understand the financials of their business.
When I was working in corporates there were so many managers that this sometimes ended up with me running ‘Finance for non Finance manager’ courses tailored to that business’ requirements.
However, now I work with SMEs it is more often one to one sessions, which are fun but I did enjoy working with YourFuture YourBusiness and to deliver one of their programmes for managers across a range of businesses. Check it out - and if you know of anyone else that wants to learn some key skills and have some fun………………….

Posted in Cost Savings | No Comments »

Why do I do it?

Thursday, June 10th, 2010

I am always reviewing (management) accounts for clients/potential clients and indeed was asked to give a presentation on this subject earlier this week. As I was putting it together I thought it was important that anyone reviewing accounts knows why they arent waiting to the year end for the statutory accounts and why they are doing it – not everyone did! So here is the overview:
- to ensure accuracy
- identify profit improvement opportunities
- guide cashflow forecasting
- assist with planning and hence predictability as the basis of decision making.
Of course the detail will vary in every case but its good to have a starting point. And how much benefit you get from the review is often linked with how often and when it is done. The numbers tell a story – by reviewing the accounts a business owner may stand a better chance of ensuring there is a happy ending.

Posted in Cashflow, Cost Savings, Financial Planning | No Comments »

Blog back on line – latest thought

Wednesday, June 2nd, 2010

Great to be back on line and be able to share my latest thought for the month :What tiny thing can make a huge difference?
At this time of year gardens can easily get out of control (I can see that on a daily basis!) and to get it back to looking its best, action is needed. Starting off with one small manageable task can make a large difference – getting in an expert for a blitz can also work.
In business there is a never ending ‘to do’ list and as a business owner this can cover a massive range of areas. There are even more things that aren’t on the list, and maybe they should be, because they may be the things that will make the most difference.

Whatever the situation, whatever the challenge, however small the first step, we have to start somewhere. However, sometimes it takes an objective third party to identify where that is.

If you would like to receive my monthly thoughts directly then please contact me at cb@a-count-a-bility.co.uk

Posted in Random Thoughts | No Comments »