What does a business owner need to know about finance?
January is a time of the year that prompts reflection, optimism and objective setting for many - so much seems possible and barriers don't seem quite as big as they did before the Christmas break.
Something that holds back a lot of people is a grasp of the basics of business finance. The language used by accountants doesn't help - often jargon can tie people in knots and leave them scratching their heads with questions such as:
- Why is cash different from profit?
- What is EBITDA and how is it different from Gross Profit?
- What are overheads?
- What does a balance sheet show?
I certainly don't believe that all business owners need to understand the minutiae of finance in order to be successful in fact to a certain extent I believe that they are better served employing someone who is an expert and focus their time on things that will add value - top up the company coffers and in doing so create more value and higher returns for themselves.
Yet I do strongly believe that owners can leverage so much more value from the accounts they already pay for, from the information they have access to but often lack the confidence and understanding to do so.
On the 16th of February I am running a workshop to tackle these challenges. Give up a day of your time and you will walk away with a clear understanding of the fundamentals of business finance that you can apply to your own business. The workshop is delivered in a relaxed and "safe" environment and will allow you to:
- Make value of the accounts you already pay for
- Feel confident reviewing and discussing financial performance
- Understand the levers you have to improve performance
- Identify some simple techniques to check progress
To seize the day, clear the numeric fog and set tangible goals for the year ahead, book on by clicking through to our training page