What is Business Advisory and why do I need it?

What is Business Advisory?

When we talk about business advisory for your business we are talking about how we can make your business better. That can be helping you manage your cash better in your business, helping you get paid quicker or helping you set goals for your business and helping you achieve them. It is services that Pisces can give you as your accountant.

You may think that your accountants can just do your books. But we can do a lot more. When we do your books we see how your business works. We see the expenses that you have and the income and how the two are related.

What do I have to do?

Business advisory is about helping you and holding you to account for making the changes in your business to move on to the next stage of your growth. You need to set the structure up for your business for it to grow and to be able to keep your customers happy. It is giving you help and the support so that you make these changes and not just think of doing them.

You can have dreams of running a business that gives you freedom and the chance to do the work that you are interested in doing but you need to find a way to actually make those dreams a reality. This is where business advisory will help you.

What can you do for me?

It is a large area of services that we can offer under advisory. It can be doing your cashflows or budgets. It can also be more in-depth one on one help such as helping you collect your debts in quicker and having a process to keep control of them on a month to month basis. It is anything that can make your business better and easier to run.

Having problems in your business will take you away form doing what you love. It will make it less enjoyable and increase the stress that you face each day. You need to have a plan on how to deal with these stresses in the short-term and make sure that you can fix them long-term.

Can you help me solve problems in my business?

Yes, we can help you get a cashflow forecast in place to see the money that you have coming in and going out each month.  Once you can see that you can start to plan when you can pay your taxes or how much you need to save or pay off your bills each month. Solving a problem like that will give you time to breathe in your business whilst you look to tackle any underlying issue.

The underlying issue maybe that you aren’t in control of the expenses in your business and you need help getting them under control. You may be looking to grow already and trying to attract new customers but you need a process to help get them.  Or you may be spending more than you are earning and need to cut some costs to survive.

Knowing that you have problems to fix in your business is a sign that you need help and that you need to look at what your accountant at Pisces can do to help.

How do I get started?

Once you have decided that you need help the first part to look at is the accounts. Getting them up to date and also starting to build cashflows for your business to see how it will look in the next month to twelve months-time. Seeing this now will tell you if there are any problems that you need to fix now.

What parts of my business will you look at?

Having a cashflow forecast will help us highlight to you the key performance indicators in your business. The parts of the business that really make it tick and earn you money. The parts that you need to be looking at each month to see if you are getting better or not.

These key performance indicators will give you the areas that you need to focus on to make your business better. They will be the first parts of the business that you need to improve if they are not working properly.

How will business advisory help me?

If you are going to make changes in your business and your life you need someone to make sure that you do the work. It is the same as if you go to the gym to try to get fitter. You can go yourself and use the machines and you think that you are making a difference to your fitness. You probably are getting fitter, but if you used a personal trainer at the gym you will start to see the results a lot quicker.

You will notice the difference in your energy levels, you will develop a lot quicker and you will actually push yourself more to do the work you need to get fit. The same is true of your business. Having someone to guide and support you on your business journey will help you get the work done and you will push yourself to move faster along the journey.

Your work that you do will be more targeted to the areas of your business that needs help, you will have a plan that you can follow and track your progress. You will see the changes in your business more quickly and you will be motivated to keep on working on the process.

Can you help me build the business that I want?

Having the lifestyle business that you want will not happen by chance. It is a process that you need to follow to grow your business and get all the key parts working in sync with each other. You need to take time to build the business that you want.

You need to have follow the process and keep working on the individual parts of your business until you get them right. You need to be able to attract and keep the clients that you want to have. You need to be able to do their work and give them a quality service so that they stay loyal to you. That service also extends out to everything you do including making sure that you are paid for their work and how you go about collecting these debts.

You need to be able to find the staff to be able to do all of these things and you need to be able to give them the processes and structure that you want them to work in. Your staff will only do what you tell them. You need to be able to build all these processes that you want them to do and have them written down for them to follow.

What do I do next?

Building all these processes and your business will take time and effort. But once you have the structure built you can enjoy the freedom that you have worked so hard for. You need a place to start and to have a plan for the work that you need to do.

Pisces can help you start this plan and to work through a process to help you grow your business. We can help and guide you through this process and have regular meetings to check in with your progress and to see how you are getting on and if you need help.

Give us a call and see how we can help!

 If you need help with your business and you want to grow and have a lifestyle business please contact us to arrange a call.