Financial and bookkeeping news to help scale and manage your business with confidence
Read our latest tips, insights and updates to grow your business finances
Being self-aware is developing a deeper understanding of your strengths, weaknesses, personality type, motivators, stressors, values, inner critic, and behavioural tendencies. It’s paying better attention to what you think and feel, and how you behave.
When you’re running your own business, there’s so much to do with so little time to do it all. You really can’t expect to master everything. Whether you’re starting your own business or you’re fine-tuning your financial strategies, a professional bookkeeper can be a big help – it will lower your risk of errors, and you’ll find yourself partnering with a provider who will make a big difference to the success of your business.
Having a plan and a budget can help you understand your business, stay focused on your goals and avoid those nasty one-off surprises. Ask yourself questions like ‘How much money do I want to make this year?’, ‘How many customers do I need each month to achieve this?’, ‘How much do they each need to spend to get there?’,
You’ve most likely considered outsourcing your bookkeeping processes at one point or another, but perhaps thought it was something your business could manage without for a little while longer. The fact of the matter is though, if you’re spending more time as the chief bookkeeping officer rather than the CEO, then finding an outsourced bookkeeper should be the first thing on your to do list!
Cash flow is the lifeblood of your business. And when it comes to cash flow management, preventing cash issues is far easier than trying to solve these issues after the event.
Positive cash flow comes from balancing your income (the cash inflows) against your expenditure (the cash outflows). If you’re in control of this then the business will always have the liquid cash needed to cover your liabilities.