Category: Strategic Planning

For the last couple of months, our focus has been on the power of regular accountability meetings and monthly financial reporting and how businesses can use them to achieve better financial outcomes. We wanted to share the details of how we helped a client improve their performance using these strategies. One of our bakery clients,…

Reducing variable costs is a powerful way to elevate your business profitability. These costs fluctuate with production levels, so effectively managing them can directly impact your bottom line. Whether you’re aiming to improve cash flow or increase profit margins, focusing on lowering variable expenses is key to sustaining growth, particularly if your gross profit margin…

Productivity is often associated with strong economies, thriving businesses, and the efficiency of skilled workers. If more businesses were productive, we’d likely see fewer failures, higher employment, and better incomes for both owners and employees. According to the Xero Small Business Insights 2023: Industry and Regional Trends report, wholesale trade was the most productive industry…

In this video, Glenn explains how preparing and understanding key financial reports—such as profit and loss statements, balance sheets, business plans, and cash flow forecasts—can determine the viability of your business. He highlights the importance of these reports for lenders, investors, and government bodies when assessing your business for loans, investments, or grants. Learn how…

In this video, Glenn discusses the importance of understanding your financial reports to improve your business results. Learn how analysing both past performance and future projections can help you track growth, identify opportunities, and make informed decisions. Discover how financial reports can guide you towards achieving your financial goals and growing your business value. The Essential SME Checklist for Growth +…

Small changes can significantly improve your business performance. Even slight adjustments to your processes or systems can majorly impact your profit margins. For example, a 1% increase in your gross margin on $500,000 of sales adds an extra $5,000 to your bottom line without increasing sales. The best part? Boosting your margins is one of…

In our recent articles, we’ve discussed essential financial reports, such as income statements, balance sheets, and cashflow statements, which provide a snapshot of your business’s financial health at a given point in time. While these reports are crucial for understanding past performance, cashflow forecasting takes it a step further by offering a forward-looking view, helping…

Understanding your financial reports—knowing your numbers—is critical to business success. It empowers you to make better business decisions, measure their impact, take corrective actions where necessary, and ultimately achieve better results. By gaining insights into your financial reports, you can: Monitor Business Growth Determine if your business is growing or shrinking. Regular monitoring allows you…

Regularly reviewing your financial reports is crucial for any business owner aiming for growth and success. If you’re not doing this—whether due to a busy schedule or because the reports seem confusing—it’s time to start. Here are six compelling reasons you should monitor your financials reports regularly. Which Financial Reports Should You Review? Before diving…

Starting and growing a small business can be incredibly rewarding but challenging. Preparing for common challenges and knowing how to tackle them can make your journey smoother and more successful. Five Proactive Ways to Overcome Common Business Challenges Every small business faces unique obstacles, but certain challenges are universally common. Here’s how to address five…

Your business plan is the roadmap that guides your company’s journey. It’s crucial for outlining your direction, setting goals, and securing investment. So, what should you include in your comprehensive business plan, and what key factors should you consider? Key Elements of a Business Plan A well-structured business plan typically includes: Clear Direction: Define your…

Purchasing an established business can be a strategic move, whether entering the business world for the first time or expanding your existing empire. However, buying a business is a significant decision that requires thorough research and careful planning. Before making any commitments, consider these five key questions: 1: Why Is the Business for Sale? Understanding…