Are you running a children’s nursery, fostering agency, care home, or any business that focuses on caring for others? Do you remember when you were learning to ride a bike ? When that person teaching you gently placed their hand on your back to save you from falling and helping you with your balance ?…
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Cashflow planning is critical to survival and growth in any business. Setting cashflow targets will enable you to predict large cash outflows and respond to changes in your business. Looking ahead with confidence and putting in place cashflow maximisation strategies is key to increasing business value. A Cashflow Forecast and our Cashflow Management Coaching meetings…
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It’s important to stay on top of your debt collection to free up cash. Establishing how long it takes you to get paid is the first step, but how can you measure this? Debtor days measures, on average, how long your customers take to pay you. While there are many complex formulas to accurately calculate…
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What on earth is a KPI and why are KPIs important to your business? A KPI (Key Performance Indicator) is a result that can be used to measure the effectiveness of different activities in your business. Put another way, if you want to define what success looks like from your business activities, employees, or projects,…
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Feeling like a slave to your business implies the loss of control; thinking that you need to be available to your customers 24/7 and that your team can’t cope without you. It can also imply a victim mentality – that this is just what it’s like to be a business owner and that it’s not…
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If you run your own business, you may wonder why you need management accounts and what they are. Their purpose should be to provide you with accurate, up to date financial information reporting on the performance of your business to enable you to make better business decisions. At Balloon Accounting we believe that this management…
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