The right way to make decisions for your business01st August 2018
Let’s say you are planning to make a large purchase in your personal life – perhaps considering a home treadmill.
You wouldn’t just pick a new treadmill at random off the Internet, would you? Each treadmill web page gives you a detailed description – the top speed, number of incline levels, the type of console it includes, and dozens of other key features.
You can often access the user manual, see pictures of the treadmill from various angles, and read dozens if not hundreds of user reviews.
You would read through all of this carefully before whipping out your credit card, right? That’s because when you have relevant information, it helps you make good decisions.
It’s the same for your business.
Over the past few weeks, we’ve been talking about the kind of information you need to make good decisions for your company’s future.
You learned why you need to understand what your profit really is, because that bottom line figure on your accounts is not always the objective truth.
And we’ve discussed the need to look at what’s going on in your business in a much deeper way, understanding which parts are profitable and which are not, so you can focus on growing your strong suits.
But that’s not all the information you need to scale your company, not by a long shot. You also need clear view of your cash flow, so you can plan your expenditure carefully and identify early warning signs of financial trouble….
A proper budget to work to, and measure your activities against…..
An understanding of the potential financial consequences of the big decisions you take…
And much more.
Doubtless there will also be a lot of information you need which is unique to your business.
Time and again, business owners contact us with the same confusion about how to grow their company quickly.
It all starts with having the information they need to make good decisions. Without that, you’re just guessing at the best things to do.
When you work with us, you walk away with the answers you need.
Not only do you get weekly cash flow reports, you also get a detailed set of Management Accounts every single month, with in-depth information about your financial performance, including all the numbers that are significant for your company.
While the reports are straightforward to understand, we’re also by your side, helping you understand how best to use the information to grow your business.
It’s also information you’ll need if you ever want to raise money from investors. Banks will insist on this information before lending you any money. And if you ever want to sell your company, you won’t achieve its full value without all this insight into the business.
So do you have data and reports like this for your company?
If you don’t have any of this yet, it’s time we talked.
Making it past the £1 million or £2 million turnover mark isn’t about doing more of what you think works.
It’s about breaking the numbers down and making sense of the complexity to help you decide where sustainable growth will come from.
Get in touch and let’s start this process for you …
… So you can grow to £10 million, and beyond.