Business Tools

Profit winning strategies for your business.

Do you leave your financials up to your accountant, and don’t understand them? CFOAssist can help you.

You may hate looking at the numbers because math is not your strength, the good news is it does not have to be, love your numbers and they will love you.

In most cases the numbers are the last thing a Business Owner will focus on…when it should be the first. It seems that in Business, most of the effort on the numbers we do are for compliance or for the Tax Department.

While we all recognise these numbers still need to be done, CFOAssist offer a different service, we will help identify the numbers you need to know, the ones that add value to your business.

Work out your margins on every product and service in your business.

Include a portion of the cost to run the business, as well as the cost to sell each item. As you sell products to cover costs and make money, most of you will put your prices up after this exercise.

If your business is not cash, set up a cashflow statement.

This way you know exactly where your money goes. (Note: P & L’s don’t show a true picture of where your money is) Discover what it means to proactively run your financials in your business.

Investigate and truly ‘know’ your costs

After reviewing how to cut down these costs, devise a budget, set your targets then adhere to your budget. Avoid the ‘if I have money I will spend it’ theory. This proactive step saves lots of money.

Identify the key components of your business that need to be measured.

Liken their function to that of the gauges in a car’s dashboard. This identification and measuring process will enable you to keep your business running at maximum efficiency.

Produce a management report each month (maximum one- two pages

Get yourself into a routine of analysing your figures (financial measures) each month. Produce a skeleton report that is easy to fill out and covers all essential areas of your business.

Learn to understand your financials.

Don’t just leave it to your accountant. As a Business Owner it is your responsibility to understand these.

Graph your figures.

This is a great way to see trends, actual figures vs last year’s budget. Pictures are often easier to understand than figures. They are also a great way to get the team fired up about doing better each month.

We help you identify the key areas of the financial side of your business you should be focusing.

With this greater financial understanding and implementation of management systems you will achieve greater profits and the confidence to give you peace of mind in your business.

Business Tools

Do you leave your financials up to your accountant, and don’t understand them? CFOAssist can help you.

We will get to know and love your numbers and allow you to can make educated decisions for your business.

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