Look after the $’s

Financial planning is simply the business term for “looking after your dollars”. The important aspect of running a business is to understand the financial implications of your decisions ensuring you are optimising your investment, managing your cash flow and making money!


  • 1 The Big 3 - Financial Basics image
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    1 The Big 3 - Financial Basics

    The big 3 financial reports are the financial foundation of your business. The benefit is simple; to survive you must understand what makes up your financial statements, how they interact and what the figures mean to your investment or equity in the business. 

  • Markdowns, Discounts and Profits image
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    Markdowns, Discounts and Profits

    The use of markdowns/discounts is an important lever in controlling your business. Understanding the effect of markdowns/discounts will deliver;

    •                 Increased gross profits
    •                 Increased stock turn,
    •                 Better cash flow              
    •                 More satisfied customers

     

  • The Balance Sheet image
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    The Balance Sheet

    The balance sheet is a type of health check of the business. It consists of three parts:

    • Assets - Items owned by the business
    • Liabilities - Items owed by the business
    • Equity - Owners interest in the business

  • The Cash Flow Statement image
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    The Cash Flow Statement

    The number 1 killer of small business is running out of cash. Good cash flow management will allow you to:

    • Understand the flow of money in the business,
    • Understand the role of cash in the business,
    • Have the ability to manage your cash ahead of time.
    • Stay in business.

  • The Profit & Loss Statement (P&L) image
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    The Profit & Loss Statement (P&L)

    The P&L summarises (more than any other report) the trading and how well you are managing your business. It is crucial to understand the detail of each and every P&L component.