BY COLIN RITCHIE

Financial Management

Helping Small Business Owners To Unlock the Profit They Deserve

Financial Management, Business Plans, Budgets, Key Performance Indicators

4 Key Monitoring Tools

1)Monthly figures

2)Budgets/Targets

3)Business Plans

4)Key Performance Indicators

Financial Management, Business Plans, Budgets, Key Performance Indicators

1) Monthly Profit and Loss Statements

1)Monthly figures are critical

2)Analysis of the result is essential

Financial Management, Business Plans, Budgets, Key Performance Indicators

Do you think these companies do monthly figures?

Financial Management, Business Plans, Budgets, Key Performance Indicators

Who can afford to get it wrong?

OR

Financial Management, Business Plans, Budgets, Key Performance Indicators

2) Budgets/Targets

Having a budget is critical

Comparing budget with actual results is essential

View David Levi’s comments in Cash Flow Improvement video

Financial Management, Business Plans, Budgets, Key Performance Indicators

Budgets/Targets

If you think you can’t predict sales, so no point…..

Do you think BHP has a budget?

Financial Management, Business Plans, Budgets, Key Performance Indicators

Who can afford not to budget?

OR

Financial Management, Business Plans, Budgets, Key Performance Indicators

3) Business plans

What is your vision for your business?

Have you committed that to writing?

If not , why not?

Financial Management, Business Plans, Budgets, Key Performance Indicators

Road Map

Do you have a Road Map of Where Your Business is Going?

If not, We can help you with that

Financial Management, Business Plans, Budgets, Key Performance Indicators

4) Key Performance Indicators (KPI’s)

What KPI’s do you focus on?

Examples:Chargeable HoursCustomer Traffic

Financial Management, Business Plans, Budgets, Key Performance Indicators

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Financial Management, Business Plans, Budgets, Key Performance Indicators