Understanding your Business

When was the last time you talked to your business

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Many Business Owners consider themselves knowledgably and close to the numbers in their business. This may include how much revenue they are producing or not producing each month and what profit, if any they are generating.

The unfortunate situation is that it’s not just about “adding up the numbers”; it’s about “adding up the numbers” and “what” and “why” the numbers added up this way. Being able to understand the message behind the numbers places the Business owner is a powerful and proactive position to see what’s behind the corner so they can plan and prepare themselves to ensure a profitable outcome.

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Certified Bookkeeper Edmonton

Have you ever thought if only I could...

    • Know that I am getting paid

    It is critical that a business owner knows he/she is not just getting paid accurately but on a timely basis as well. The timing and consistency of a business’s accounts receivables is essential for ongoing cash-flow health.

    • Have a financial plan

    Understanding what the future might bring and having a plan to respond to the good and/ or bad is essential for any business to run smoothly with a lot less stress.

    • Have less paperwork

    The business owner must have the time to focus more time and energy on the core business and the customer, not bogged down by financial administration and paperwork.

    • Have my invoicing done

    If customers are not reminded to pay-up then Account receivables slow down. Conversely, when Account payables slow down, debt accumulates.

    • Know what my numbers mean

    Numbers are the language of business and when the business “speaks” it’s important to be able to respond to what the business needs in a proactive manner vs. reactive manner.

    • Pay less taxes

    Having a financial coach that guides and advises the business owner to be efficient with cash and how the business operation is run – money-wise is essential to keep tax amounts in check.

    • Always pay my bills on time

    Paying bills is a necessary evil but it becomes an “evil” when money is just not available to pay the bills. Having the right amount of cash in the company system at the right time is essential for ongoing business success.

    • Less CRA worries

    Like paperwork keeping the business owner from his/her core business, being consumed by CRA concerns is not what the business owner should be busy with consequently taking away from the core business.

    • Pay my taxes on time

    Like paying bills, paying taxes can also be seen as a “necessary evil” but it doesn’t have to be this way.

    • Have a Financial coach

    Many business owners would say they “are not good with numbers” or “good with numbers” but still don’t understand what their business is telling them it needs. Know what is required and create wealth!

    • Have GST paid on time

    Just like Account payables, the government needs to be paid its GST on a regular basis. Not having to worry about this and having the money available to do so is critical.

    • My expenses managed

    Not having to stress about where the money is going to come from to pay bills is essential, so the business owner is able to focus on the right things at the right time.

    • Have enough cash flow

    Cash is the oxygen of business and not having a constant cash flow running through the business is not what the business owner wants at the end of the day.