In this blog:
- What you need from your finance function if you are trying to grow and are <£5m in sales
- Warning signs that you might have a finance function that is holding you back (sales >£5m to £250m)
- Spectacular photos of famous buildings taken from drones (nothing to with spring but they are cool!)
In my latest blog, I explain the things that a growing business should be looking for from its finance function. I start the piece with my suggestions for immediate turnover goals of a business that is serious about growth:
- Reaching £1m in sales
- If you are already there, maintaining growth of at least 20% per year
An early stage business is best served by out-sourcing all aspects of its finance function – you only need part-time help. Read the blog to find out what this should deliver. Unsurprisingly, Bellevue Partners can help you putting all this in place. Please get in touch if you would like to find out how we can help you.
And what if you’ve already got all this?
Then you should be looking to make sure that your finance function is up-to-scratch. I see and hear about too many businesses where the finance function is simply not good enough, causing frustration for CEO’s, investors & managers. What are the signs that a function is not up-to-scratch?
- Month-end accounts take weeks not days. All month-end accounts should be ready in 5 days or less: no exceptions
- Emphasis on budgeting not forecasting. Annual budgeting is a discredited activity. Good finance functions focus on regular, up-to-date delivery of well prepared, rolling 12 or 15 month forecasts
- People don’t respect finance. It’s usually pretty obvious. If you have a function that is not valued by people in & around the business then it is time for some change
Does any of this sound familiar? Then get in touch by following the link or mail me at firstname.lastname@example.org. An exploratory chat will let you know whether you want to move ahead with some change.
Bellevue Partners can help transform the performance of your finance function. We’ll start by finding out where your finance function is now and then help your team create a programme that will turn things around.
And finally, I enjoyed these stunning photos of famous places taken from a drone. No longer possible, as they have been banned from doing this. Enjoy them while you can!