Identifying the potential pitfalls of the business, their underlying causes, and their potential impact, is the first step towards managing and controlling such events, and of lessening their impact should they occur.
So where do you start if you’re a small to medium sized business?
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Budgeting can be a bit of an art form and is really a best guess, but if based on historical data has a greater chance of being fairly accurate. It’s good to review and revise regularly.
Here are some quick suggestions on where to start when creating a budget or cashflow projection.
Or a lot?
Trust me you are not alone.
The number of times I have seen people literally shudder when asked about their business financials. I came to realise years ago that it doesn’t come as easy to some people as it does to me. But then I also see some of you out there who are perfectly capable but seem to have a real block with it.
So what’s the deal?
Sometimes good enough is good enough. This is a lesson that a business mentor used to try to drum into me until I finally took it on board. You see, I can be a perfectionist by nature. There were times that I would spend ages and ages making a marketing flyer just so because everything hasRead more
