That may seem a little belated, but I decided to take 3 weeks out over Christmas, something I’ve never done before. I wanted to make sure my business plan was right up to date and to set my goals for 2014. It’s way to easy to barrel back into the new year without a really clear idea of where we want to be this time next year.
So what will you do differently this year?
It may not be your financial year-end, but the new year is a great time to think about how differently you want your financials to look this year. Do you really want another year of the same?
Well, to get a different result, you’re going to need to DO something different.
I really do get that most of you don’t like finance. I know some of you positively hate it, but there are some simple things you can do this year to make a big difference to your bottom line and your cash-flow.
What do you want to change?
This week, have a good hard think about what you’d like to change this year.
Maybe some of these appear in your list?
1) Get rid of our loss making customers; the ones that drive us mad
2) Increase our profitability
3) Improve our credit rating
4) Get our cash-flow in better shape so we don’t keep getting shocks
5) We need better financial information<
6) Get our debtors under control
In my new weekly blog I’ll share with you my simple tips to make instant and lasting changes to your finances.
I’ll leave you with a couple of quick tips – just start doing these now, today, if you don’t already. They barely take any effort at all but will get you on track straight away.
So, my tips for this week
1) Make sure you see your detailed debtors report EVERY week. This means the book keeping has to be kept up to date, and old debts can’t build up.
2) Make sure you see your detailed creditors report EVERY week – keep a close eye on who you owe money to.
3) Start putting your corporation tax and VAT away every month. It’s not your money so don’t prop up your working capital with it. You’ll feel really smug knowing your tax is put aside AND no more cash flow dramas when it’s time to pay.