If you’re running a growing business it’s hard to keep up with everything. Here’s 3 things to focus on with your financial management.
1. Control Cash and Profit
With the emphasis in the order shown.
2. Get Good Information
Spend time on:
- planning and designing the information so it’s what you need.
- finding the right tools for the job. There are lots of good, cheap cloud-based solutions around like Xero and Crunch Boards.
- Lining up the resources to produce it. On that subject….
3. Find Flexible Resources
The resources to “do finance” are a mixture of people and technology. These days you will not need full-time resources, particularly if you are in the early stages of growth. So use part-time Finance Directors, outsourced book-keepers, cloud-based software and firms of accountants to help with tax compliance, planning and other specialist advice.
If you focus on these just three things you will be setting solid foundations for your business in an efficient way.
Bellevue Partners help businesses build great finance functions. Get in touch if you would like to discuss how we might be able to help you.