Why we developed this service.

You can run a successful business and not truly understand the financial metrics of your business. Whilst the business is performing well, this may not be a concern. However, when it comes to making informed investments, understanding why performance is dropping off or building a growth plan, having financial awareness and understanding the detail of your financial reporting is key.

  • Why has my profit increased?
  • Can I afford to hire a new member of staff?
  • Why do I have no cash, but my profit is high?
  • How can I improve my cashflow?

What is involved?

A bi-monthly meeting is prepared for you, and we’ll meet via video or at our office. The focus of each meeting will change and evolve depending on your personal needs and objectives:

  • Develop an understanding of your key financial reports
  • Learn how to report on profit and cashflow
  • Gain outline knowledge of key accounting concepts
  • Support you to produce your own customised reports going forward on a monthly basis
  • Understand how to better manage your debtors and creditors
  • Discuss and implement automation, replacing current admin tasks
  • Identify how to monitor income and expenses throughout the year
  • Work towards solutions in current areas of financial weakness
  • Identify weaknesses / areas to work on between meetings to get better results
  • Understand other information that should be captured regularly and how (debtors, stock, creditors etc)
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When should I begin Financial Awareness Coaching?

It is key that business owners understand the financial implications of any decision. Improved financial awareness will enable you to grow your business and/or your profitability in a controlled way. So, if you are don’t understand how cash and profit differ, the key information in your annual accounts or your profit & loss reports then this service is perfect for you!

What are the key financial reports that will be covered during coaching sessions?

  • Your Trading Account
  • Statement of Profit & Los (P&L)
  • Balance Sheet
  • Statement of Changes in Equity
  • Shareholder Current Account

Benefits of Financial Awareness Coaching

Understanding your business and the mechanics beneath it will make it easier to understand how to make it more efficient and make more money. Management decisions rely on a good understanding of the financial implications for a business. This service is aimed at the business owner who wants to fully understand and interpret their numbers, increasing the chances of building on the foundations their business has.

  • Enables you to better understand your business
  • Better manage and monitor your cashflow
  • Make better informed decisions
  • Iron out any existing errors to ensure accuracy in your financial reports
  • Customise your reports to ensure you capture the right information
  • Format your reports in a way that makes decision making easier
  • Gain better understanding of the financial implications of decisions
  • Access regular independent financial advice
  • Review your reports and record actions to be achieved before the next meeting
  • Be held accountable to achieve progress between meetings
  • Identify any current issues that need to be addressed
  • Access the collective experience of our team, systems, services and products
  • Phone support to address any current issues between meetings
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