I don’t know how to grow my business
I don’t know how to grow my business
For many businesses the reality is that they stay small and don’t grow beyond a certain point. This may be for a number of reasons: it may be choice of the owner or it may be involuntary: the owner has big plans but they never come to fruition. The owner is always trapped in the hope of “one day I’ll get to where I want to be”.
But how exactly do you start the process of doing this? You might be asking yourself: I don’t know where to start or I don’t have any of the knowledge I need to do this. What is holding you back? Here are some of the reasons you are not getting there.
I don’t know how to take action
1. You need to be sure exactly what you really want from your business
2. Make a plan
3. Put time aside each week to work on your business
5. Systemise your business
What you wrote above in what you want now. You need to make sure that your agency can give these to you. Can you have the things that you want? Freedom to live your life to enjoy your life the way that you want to. To have your business empower you rather than it being something that holds you back and drains all your time.
Plan what you need to do to get your business to that level. What steps and processes do you need to put in to place for your business to get to this point. The more detailed that you can make this the better. For instance having a plan to get more customers is very broad, but if you can break this down to what you need to do to get them that will be a plan that you can start to work on.
You need to spend time on your business so that it will grow and flourish. You need to set aside time each week that you will spend on it. That is time spent trying to get new and better customers, time spent improving the processes in it and making sure that your team are delivering the quality service to your existing clients.
Having defined processes in place will help your business become more profitable. Making sure that the right staff member does the right job. You don’t want your most senior member of staff doing admin work when you have lower paid staff who can do the job just as well. Having processes written down so it clearly states who does what and when and why will make it easier for your staff to follow and make sure that the work is done as quickly and efficiently as possible.
I don’t have the right finance knowledge
1. We take the strain of managing your accounts day to day
2. Calculate what you need to earn
3. You get access to our skills and expertise
4. We can give you the information to make better decisions
5. We can be your sounding board
6. We can help you systemise your business so it runs better
We can make sure that all your books are in order and that you know when your taxes are due, how much you have to pay and when you should pay. We can make sure that all your books are up to date and that you are claiming the right tax reliefs and you know where you are spending your money.
It’s natural to think that you want to earn more than you really need to. There’s always a bigger house that you would like, a nicer car or better holidays. But what do you really need to earn to make you happy and to free you to do what you really like to do. Once you have that number in mind you can probably have a good idea to what your business needs to earn to give you that income.
Engaging us as your outsourced finance function means that you have access to pour skills and expertise any time you need them. It’s like an insurance for your business, if you need help to answer any finance problem you know you can call on us to help you out.
Having your books up to date and knowing where to look and how to understand your accounts will help you make better decisions about your business. Are you going to spend money on a new member of staff? You need to be able to make sure that you can afford it and that we can make sure that you have the right information to hand to make an informed decision rather than just making a guess.
Having an accountant who understands your business and businesses like yours to discuss problems and issues with can give you a better insight in to your business. If you do want to take on a new member of staff having your accountant to discuss this with and outline the pros and cons and whether or not it is possible. Your accountant will advise you and help you develop better business strategies.
We can set up your accounting systems so that your work is easier to manage and also help you organise your business so it is more efficient. Accounting systems that are easy to use and manage and that can give you the information when you need it.
I need help to get there
1. We can help you set your goals for your business
2. We can help you set up your accounting systems to give you the information that you need
We can help you set the goals that you have to for your business and help break them down in to the small steps that you need to do achieve them. We can then hold you accountable for acting to make sure that you actually do the work and move your business forward.
You need to have up to date information to make better decisions in your business. We can help you set up your accounting software and cashflows to give you up to date information about your agency and reduce the amount of time you need to spend on it.
3. We can help you with your cashflow and budgets.
4. We have regular meetings with you
5. We can provide you with a full finance function
Having an accurate cash flow and budgets will help you keep your business going in between projects. Knowing that you can pay your bills, taxes and wages will be essential while you work on your projects and wait for the next payment to be made.
We can have regular meetings with you to discuss your business, acting as your sounding board for any problems and issues that you have and talk through them to find a solution. We can give you advice on taxes, vat and self-assessment and help you set up your finances in the most tax efficient manner.
We can take the load of all your finance function and do it all for you from raising invoices, to doing your bookkeeping, chasing payment for invoices, preparing your vat returns, doing the accounts and giving you the help and support of our experienced accountants.