4 Ways to Grow Your Business

FAILING TO PLAN IS PREPARING TO FAIL: THE CASHFLOW BUDGET
 
 Historical data is important but you’ll ‘crash’ the business if you drive it by just looking in the rear view mirror. Today’s decisions will impact on your future results.

If you don’t have a plan in place or prepare an annual budget then you are asking for trouble when the economy turns south. Cash flow is usually the most common client concern, the most visible and therefore the most painful. By identifying all the activities that turn work into cash and then measuring those activities, the results can be immediate.

A Cashflow budget can identify if and when you expect to need additional finance and is a work in progress. The banks are tightening their credit policy in the wake of the sub-prime lending crisis and planning the finance application is absolutely critical.

To assist in planning for the future critical decisions firstly need to be made. How do you arrive at these decisions and what is the dollar effect of both the resulting bottom line and future business value.

I’VE DONE MY PLANNING….. 
It is feel good “stuff” to prepare your targets and set them out on paper but what does all that mean. Nothing! The actual results must be compared to the targeted results regularly, at least quarterly if not monthly.

Any negative variance can be actioned immediately. Compare that to a compliance client where the final results may not be available to December after the financial year. From July at the beginning of the previous financial year that is 18 months. Too late to fix a negative trend!!

At O’Bryan & O’Donnell we offer a package of 4 Ways to grow your business and provide various strategies. Pictured is an extract that quantifies the dollar result of both Profit and Future Business Value by implementing and attaining certain strategies. The example is relevant to all business and turnover levels and shows an attainable profit improvement of $29,401.

If you would like a FREE Consultation to put your business under the microscope and look at the 4 Ways to improve your business in 2010/2011 click here or contact O’Bryan & O’Donnell on
(03) 57443861.