Surely everyone wants to grow their business, and you're no different?
Particularly sustainable growth, is imperative to a successful business. Whether you've just started in the growth phase of your business or nearing the end and are thinking about succession or a sale, you need not only goals but a way of achieving them. This is where Cliftons can help.
It starts by asking yourself these few simple questions:
- What does your business look like now?
- What do you want your business to look like in 3 or 5 years?
- How will you get it there?
The answers to these questions will help guide your process to develop and implement a plan to achieve the success and satisfaction you desire.
And improving your business will improve its value. Cliftons are advisers in this space. In fact, we're accredited value improvement business advisers. Contact us now to start the process.
Two statements that have and will also ring true in business is "Cash Is King" and "Cash flow is the life-blood of a business". Cash is something every business needs. Even a profitable business can't operate without good cash flow. To be able to manage your cash flow you first need to understand the patterns and seasonality that affect the flow. This way you can identify the high and low points and make effective plans to smooth them out.
A cash flow budget can be a great management tool, when prepared carefully and referred to and regularly updated. We've put together a video on budgeting and cash flow management. Watch it here.
The reason we're all in business is to make a profit. None of us are doing it just for fun. There are some drivers of profitability that are outside your control, but nonetheless you need to know what they are.
But to make excuses that things are out of your control is a cop out. You've got to make the best of what you can control. This includes, amongst others, things like what you sell, how much you sell it for, what are your fixed costs, reviewing your variable costs, modifying the mix of what you sell. It's important in every phase of business, because profitability drives sale value.
Make the move to work on your business growth. Contact Cliftons today.