We’ve just started working with a new client. They’re a global consultancy firm and they’ve got a brilliant business.
I’m running a finance strategy day in London in a couple of weeks for their senior management team and on a briefing call last week the Managing Director (we’ll call him Peter) told me “I just want my finances to be as brilliant as the rest of my business”
Have you ever had that moment when a client manages to articulate that one-liner that you’ve been searching for? That one liner that absolutely nails what you do? Well that was it for me.
I’ve been giving this idea a lot of thought since that conversation. It was a really heartfelt comment; Peter and his team had worked incredibly hard for many years and they really have built a brilliant business, but they weren’t seeing the financial results they should be because they hadn’t had the right support, information and visibility on their finances.
And actually that’s what we see with most of business we work with. Their finances aren’t as brilliant as the rest of their business – but they should be. I don’t know many businesses owners who don’t work hard, who aren’t passionate about what they do, and who don’t think their business is brilliant. Why then do so few businesses have great finances?
Are your finances brilliant?
So I’ve come up with a quick checklist of questions you can ask about your finances to see if yours are indeed as brilliant as your business:
- Do you personally earn what you think you should be?
- Does your business make as much profit as it should be?
- Do you KNOW that you’re building a sustainable business for your future?
- Do you feel confident about your finances?
- Do you get the sort of monthly management information that puts all your important facts and figures at your fingertips?
- Have you got great visibility about the next few months’ sales, profits and cash?
- Can you predict roughly what your sales and net profit you’ll make this year?
- Have you got simple clear KPIs that allow you track the most important things?
- Do you feel like your finances are supporting or sabotaging you?
- Have you got a clear financial strategy for your business and for you personally?
And just in case you’re still wondering what we do at The F Word, it’s this.
Making your finances as brilliant as the rest of your business!