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Ever wondered what expert Company Directors see in the financial statements that others can’t? How do they use a report full of numbers to dissect the performance of a business? They start with a quick look at the ‘result’, i.e. the Profit/(loss) then turn to the balance sheet to assure themselves the business isn’t goingContinue reading “3-Levers – Essential guide for increasing Profit$”
Without anything or anybody to hold people accountable for maintaining high standards in an organisation, people will naturally gravitate towards things that they enjoy doing and are good at. (usually these two go hand in glove). The yard stick of productivity, in the absence of anything else becomes “being busy”. We’ve all seen and heardContinue reading “Ongoing oversight to maintain high standards”
Cash flow management is where the current financial position, future performance and sustainability of a business all converge. It’s also the area that ‘exposes the rocks when the tide goes out, or put another way, it’s where the accumulation of problems throughout the rest of the business manifest into. Be sure to take cues fromContinue reading “Revenue is vanity, profit is sanity but cash is KING”
A rolling 12-month revenue forecast becomes one of the key leading indicators of the future, because fluctuations in profitability usually directly correlate with fluctuations in revenue. Given the high level of dependence on a forecast then, make sure you evaluate strategic decisions using dependable numbers. Break down the big picture one assumption at a time,Continue reading “Forecasting predicts (a) future”
A budget is your businesses future focused plan or projection of how to control costs and earnings, based on what you know – now. It maps out the expectations of what the company aims to achieve and is recorded in a document or documents. It encourages business owners to get ‘out in front’ and focusContinue reading “Why bother with Budgeting?”
When discussing strategy, an un-costed idea is just that – an un-costed ideas. Until you have put the effort into building a financial model to show the financial outcome (as a discounted cash flow calculation) of the ideas, then you cannot call it a complete strategy. You cannot just string a collection of scenes togetherContinue reading “There is more to strategy than just talk”
The essence of managing a successful architectural project is delivering what the client expects, on schedule and within budget. Essentially profitable firms all need to manage people, projects and profit well to succeed –this is my ‘take’ of the 3 big issues within the 3 big areas: People Alignment + Engagement + Motivation Talent ManagementContinue reading “The Business of Architecture”
Strategy starts at the top with a vision and that comes from the founders. You cannot buy a vision from off the shelf and too often, people confuse thinking tactically with thinking strategically. The two terms are not interchangeable. Strategy rolls downhill from the Vision and Mission. Tactics should complement strategy. I will use theContinue reading “Reporting gives you feedback on strategy”
You cannot be all things to all people. By adopting a strategic position, deciding to be either a cost leader or to differentiating yourself, the aim is to emerge with a sustainable competitive advantage over other competitors in your sector. I think many businesses by-pass this difficult categorization and leap straight into the tactics ofContinue reading “Strategy brings a lot of businesses unstuck”
Every owner wants peace of mind from having a reliable and predictable business. Reporting is the foundation of the – reliability element of business management. Reliability in reporting means routinely being accurate, verifiable and complete. Reporting is not known for being a ‘sexy’ part of business, probably more synonymous with ‘boring accountants’ but good reportingContinue reading “Reporting is the foundation of Reliability”
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