Every business owner would like to make more money. However, most business owners tend to focus on the results and the amount of sales, instead of the key activities that drive revenue and increase your profits.
Without an acceptable level of positive profit, growth in the market can be slow and a business is likely to be in constant ‘survival mode’. We know that a business must grow revenue/profit to succeed, it is sometimes difficult to achieve without the right tools and advice.
Five questions a business owner should be asking is:
• Where have we come from?
• Where are we now?
• Where do we want to go?
• How do we get there?
• By when do we want to get there?
A high percentage of business failure is due to a lack of cash management and therefore it is vital that you understand your businesses cashflow to optimise its success. Plan in advance, for capital expenditure. How long will it take for your customers to pay you and what are your payment terms with your suppliers? Ultimately, you want more coming in than going out so that you can make the investments needed to compete. Cashflow forecasting can put you ahead of the competition and make managing your cash easier, eliminating those ‘surprise’ costs throughout the year.
Why not contact us to take advantage of the opportunities available to you and drive your business profitability further.