It’s funny how sometimes the people in your life can teach you some of the best business lessons. Even your mother-in-law!
In my case, my children knew that my 89-year-old mother-in-law had always wanted to fly in a helicopter.
This Christmas, they helped her fulfill her dream.
They booked a helicopter ride over London, including the East End, where she grew up, and which she still knows intimately.
But knowing a city at the street level is completely different to seeing it from up high.
Though they have all lived in or near London for many years, none of them truly appreciated the beauty and expanse of the city until that day in the helicopter.
They saw London as a whole – how the centre revolves around the river, the way the different areas connect and how the topography changes.
They got a clear picture that is only possible to see from a high altitude.
Business owners need to take a similar journey with their financial management.
Very often, you know your business finances at “ground level”.
You are dealing with payroll, taxes, payments to suppliers, shipping and fulfilment…. You know the details. You know how much money your staff are being paid and how much money is in your business account right now.
It might even feel like you are in control of your financial situation, because you are hands-on.
But in reality, you are stuck in the weeds.
You can see all the little details, but you can never see how they all interconnect.
What if you cut expenses in one area, what’s the best place to invest your saving? What is the trend for your profitability? How is your cash flow, over the long-term? What should your budget look like, next year? And what events are coming up over the horizon, that could impact your entire financial situation?
This is the kind of information that shows you opportunities for growth. It also helps you spot dangers and deal with it ahead of time.
It’s the kind of information you need to grow from £1 million or £2 million turnover a year to £5 million, £10 million and beyond. This is a big leap which requires new strategies and new points of view.
But you can only get these by occasionally zooming out of your finances, and looking at the bigger picture – from above.
For that you need a finance director.
And that is where we can help you.
We take care of the details – your payroll, your cash flow and your taxes.
It’s the part that you probably pay a bookkeeper or accountant to do right now, but we make sure it is done to world-class standards, promptly, efficiently and accurately.
But we also help you get out of the financial weeds and into the clouds – looking at the financial trends in your business, where the opportunities are, and what’s coming up over the horizon.
With this “big picture” information, you have a much better understanding of what’s really going on financially in your business.
And you are able to make much better decisions, going forward. You’ll not only feel in control, you will really be in control, and feel confident steering your company into the future.
If you want help managing your company’s finances much more smoothly, ‘reply’ to this blog, and let’s talk about how we can help you.
Together, we can look at your finances both at ‘ground level’ and from up high – and propel your company to much greater heights.
Garry Mumford
