Having your finger on the pulse of your numbers is VITAL ! The FINANCE PLAN is probably the easier part to build and then monitor and measure.
(At our software company Enable we specialise in a web based information centre - like a dashboard in your car- which allow business owners to see the key numbers when they login every morning.) You can be very methodical with the numbers and set yourself tasks on them. KEY OBJECTIVES Grow Profit above Turnover
- task & reduce all costs
Sweat your assets
- buildings
- systems
- people capability
- time
Detailed Cost Analysis monthly
- Board review of all costs
- Headcount review
- full quarterly budget review
- full quarterly reporting
Cost breakdown to business units
- attribute costs to different business units with full Profit & Loss (P&L)
- central control & sign off of all Invoices over £x
Debt structuring
- total review
- maintain headroom
- build relationships with several banks
- expect the unexpected ! (- the recent banking crisis is an example) |