‘How To’ Coaching series – Activity 44

Who controls your financials?

Chapter 2 – Financial Control – Rule your money

This is part of the ‘How to’ coaching series.  An ongoing series of activities to make your business successful.  Follow it step by step and see positive results as you develop a robust business model, set on a solid foundation.

Activity 44 – I use my financial reports so I can make decisions on the future of my business

So you’ve collected all the financial figures of your business, by following the previous ‘chapter 2’ st of blogs, what you do next will make collecting them worthwhile.

When you know what to expect, you can make changes to how you are running your business and see the results. You can see how well that bit of marketing paid off. You can understand whether your cash is flowing efficiently and that you are managing it well. Plus all the numbers that drive your business choices.

The HowTo bit:

The key is to be consistent with producing and using the reports. With the build up of your numbers, you are able to check like for like over time.

Define your map of numbers and create a dashboard. This can be on a spreadsheet or a more comprehensive tool.

It is best to automate the report creation process; if not, then make sure you stick your pre-determined schedule and report model and load the numbers manually.

Have a plan of what you will do with the information you get. No point having numbers and not making use of them.

If you would like assistance in setting up your reporting process, Contact Us

About alexpettybiz

We educate and inspire business owners to realise the potential in themselves and their business. The way we do it is to help make businesses easier to run, more profitable and more fun. We believe in coaching at every opportunity to help business owners succeed. What can we do for you?
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.