Financial Management
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Transcript of Financial Management
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
Complimentary Meeting
Reserve your 30 minute complimentary meeting today!
Financial Management, Business Plans, Budgets, Key Performance Indicators