Financial Awareness Coaching – Outline
We’ll help you to understand your business better, enabling you to better manage your cashflow. Good management decisions rely on a sound understanding of the financial implications for your business. This service involves meeting with us every two months to discuss your financial results, culminating in you learning to produce and interpret your own customised financial reports on a monthly basis.
Why we developed this service.
The better you understand your business, the easier it will be to make more money. Management decisions rely on a sound understanding of the financial implications for a business. We have developed this service to enable business owners to fully understand and interpret their numbers, so they have a strong foundation on which to grow their business.
Who should attend?
We recommend this service to you if you are passionate about your business and want to better understand your numbers, so you can answer questions like:
- How much profit have I made this year?
- Why has my profit increased but I have no cash?
- Is my cash level increasing or decreasing?
- What is affecting my cash level?
What is involved?
You will attend meetings with us every two months to discuss your financial results. The focus of each meeting will change and progress depending on your needs and objectives. You will:
- Develop an understanding of your key financial reports
- Gain knowledge of key accounting concepts
- Learn how to report on cashflow and profit
- Begin to produce your own customised reports on a monthly basis
- Understand how to better manage your debtors and creditors
- Learn how to monitor income and expenses throughout the year
- Find ways to save time on admin tasks that could be automated
- Identify weaknesses / areas to work on between meetings to get better results
- Iron out any existing errors (formats, coding, analysis, timing differences, etc.)
- Understand what other information you should capture monthly and how (e.g. stock, debtors, creditors, etc.)
When should I begin Financial Awareness Coaching?
Any time is a good time to start understanding your financial reports in order to improve business performance. The sooner you start Financial Awareness Coaching, the better your understanding of financial results and their implications, and the more control you will have over outcomes.