Accountants do more than you think. They can give you strategic advice and come up with clever ways to save money or boost revenue. They’ll also remove or automate administrative tasks that distract you from your core business. Get an accountant and you’ll run your business with more clarity and confidence.
So what does an accountant do? The question is what don’t they do.
1. Launch a startup
Starting a new business can be exhilarating, but it takes more than a good idea. You need to know it will make money – and you need to convince investors and lenders of the same thing. An accountant can do that for you.
They’ll help test your idea, identify your star...
Research by Kotter International found that more than 70% of change projects within a business fail. Why is this?
The research findings show that employee engagement is the biggest factor. Whether it is a small change to one or two processes, or a company-wide change, it is common for staff to feel intimidated by it. So what can you do for successful implementation of change?
Here are the principals from Kotter’s 8-Step Program:
1. Get the team onboard
Build support and create momentum behind the changes you are making by communicating the benefits with the whole company early on. Start honest discussions with your team and give dynamic and convincin...
Accounting is the backbone of all businesses. It allows business owners to keep track of their finances, performance and budget for the future. However, accounting can easily take a backseat due to its time-consuming nature. In fact, Xero’s study found that small business owners spend an average of 15.5 hours a month manually importing and reconciling their bank statements. By leveraging online accounting technology, SMEs can reduce stress and achieve greater success for their businesses.
"We have witnessed firsthand how challenging it is for entrepreneurs to have a grip on their businesses without access to the right set of dat." - Dr. Konstantin Lange...
Here are ten ways to make sure that you continue to drive through each business quarter with purpose, vision and the courage to super-charge your business.
1. Eliminate Distractions:
Time is the scarcest resource and biggest killer for most businesses. When we get busy we can also get distracted and focus too much time and energy on the wrong things. Be brave - slash standard meeting times, reduce unnecessary admin and delegate roles and responsibilities.
2. Say Goodbye to Bad Customers:
If possible in your business, get rid of ten time-wasters, bad payers, or customers who cause you pain. You will feel instant relief and spend your time better elsewhere...
A cash flow forecast is an important tool for business planning and having an understanding of the cash coming in and going out of your business is vital - no matter how big or small your business is.
A cash flow forecast will show you how long your business can continue to survive on current sales levels, by showing you how much money you’ll have in the bank at the end of a period. It will give you an understanding of what the revenue drivers are in your business, and give you visibility of your expenses and the things you can control. Having this information in a forecast will also allow you to plan for different scenarios, work out your priorities a...
Working capital is a vital component of any successful trading business – providing the liquid cash needed for everyday operations. Suddenly finding your business without this cash can be a shock, but there are ways to fill these cashflow holes and get the company back on track.
In short, it comes down to careful cashflow management, and ensuring you have the best possible routes to additional finance and funding provision.
Key ways we can help include: -
Helping you understand your cash requirements – the starting point of any funding search will always be to understand what your current cash requirements are. This means sitting down to review your w...