If your business has a December year-end you are not too far from half-way through your financial year. How is it going?
You might be beating your budget or falling behind, but it is highly unlikely that you are exactly on budget and also unlikely that your budget for 2012 is now an accurate gauge of business performance.
There is little to be gained from comparing actual performance against an out of date benchmark. Perhaps it is time for a reforecast?
We have been on the QuickBooks ProAdvisor list for several years, from pretty soon after we started using QuickBooks in our own business and realised how helpful it could be for just about any other business.
Great for us, but what does this mean for QuickBooks users who need a little help?
Profitable pricing is a virtuous circle if you get it right and a vicious circle if you get it wrong. So, how do you get it right and price profitably?
If someone offered to buy your business how would you value it? One exercise you would hopefully do is to ask “how much profit will your business make if you keep it?” You might be surprised (and much better off!) at the answer.
Management accounts are essential for every business. Quite simply, you need to know how you are performing and you need to know what to change or to do more of in order to perform better.
If your business can improve profitability the rewards include more money in the bank and a higher value for your business as well as greater peace of mind and the feeling of a job well done. Lower profits than you think you should be earning will lead to the opposite outcomes and a lot less fun. So, what can you do to improve your profitability? Continue Reading
Sarah Perrott, MD of Cresco Consulting, shares her thoughts on taking the plunge of starting her own company – and never looking back!
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Blue Dot Consulting Limited
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London, SW6 3JD
