Post on 17-Dec-2014
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Bizcamp 200910 finance must haves to grow your business9
Jeroen Meens, Cynexwww.cynex.com
Monday 26 October 2009
Monday 26 October 2009
Think of bees as money. Do you wake up every morning with an empty net to catch bees? Or do you wake up every morning in a garden that attracts many bees?
Monday 26 October 2009
Here are my business ventures. Today, with Cynex, our business is helping you grow yours. We manage your bookkeeping, tax and accounting and you get all the coaching, expertise and experience included.
Knowing yourself is the beginning of all wisdom
- Aristotle
“”
Monday 26 October 2009
Where do you want to go?
Who are you?
Monday 26 October 2009
Monday 26 October 2009
You need a goal to score
Monday 26 October 2009
How will the business look like or garden look like?
1. know your ideal clientand adjust your cash planning on getting them
bees?garden?
Monday 26 October 2009
PICTURE THE CUSTOMER FIRST, then design your gardenNOT THE BEST PAYING CUSTOMER, BUT THE BEST CUSTOMER
time
money
€ 3.000
finance or not?
Monday 26 October 2009
If your burn rate is 1000 a month and getting a customer takes 3 months, then you need to be able to find 3000 euros. If you need to finance that, you need to see if the interest your paying is worth what you’re getting from your customer.
2. know your break-even
Monday 26 October 2009
Not knowing your break even is not knowing how your business is doing.
!xed
revenue
loss
variable
total
profit
time
money
Monday 26 October 2009
See if any investments you make, make sense.
3. paying taxes is cheaperthan trying to avoid to pay taxes
Monday 26 October 2009
Focus on profit first. You need it when dealing with a bank or an investor. Profit gives you oxygen and puts you in the driver’s seat instead of the other way around. Taxes are a short term cost for long term ROI.
tax = short term costto create ROI in the long term
Monday 26 October 2009
It’s what investors or banks need to give you money. Of course it does not have to be out of proportion, but some is important.
25K Profit= 100K investment
= 1 year time
Monday 26 October 2009
With 25K profit you can get 100K loan from the bank and have a year time to make a return on investment
Bank
Venture Capital
Subsidies
Own Cash Flow
Pro!t
Private
4.
Monday 26 October 2009
capital: pro’s and con’s
5. Investment ≠ Cost
Monday 26 October 2009
Saving taxes by making costs at the end of the year is not the same thing as investing
ceci n’est pas une investissement.
Monday 26 October 2009
In you bookkeeping it says investment, but in reality it is profit. Once payed off, value has decreased; an investment should have increased.
€ €
6. Cash is KingMonday 26 October 2009
Car is payed off, no value left and no cash in business. Collect your bills, negotiate payment terms
6a. Emotional Flow > Cash #ow
Monday 26 October 2009
focus on what you do best, get the right people to surround you. know what you do at all times.
Monday 26 October 2009
Cash = Oxygen.
7. Grow = Profit
Monday 26 October 2009
Control
Pro!tGrow
Monday 26 October 2009
Most want to go too fast. Control your business first, take the profit and get access to capital ti grow.
“Grow” without “Pro!t” = useless
“Grow” without “Control” = bankruptcy
“Pro!t” without “Control” = less pro!t
Monday 26 October 2009
CapitalLiquidity
TrustControl
Pro!tGrow
Monday 26 October 2009
It’s the same principles as our financial system and it’s what financers use to lend you money.
7. Have a planMonday 26 October 2009
Think long term
it’s not about the figuresit’s about the “how”
Monday 26 October 2009
How did you get to those figures? How do you reach x amount in sales, etc.
Look in the mirrorand be honest to yourself
actualforecast
Monday 26 October 2009
Did you meet target or not and act accordingly.
9.
Monday 26 October 2009
Not knowing how you’re doing is like fast food. You don’t know what’s in it, you know it’s bad for you, but you keep eating it. And slowly you get out of shape and die. Same thing with business. Know what you do so re-think your accountant.
Monday 26 October 2009