Blog Category: Profit improvement

Why can’t I see my profits in the bank?

  A very common question I am asked by non-finance directors is why they can’t see their profits in their bank account. The simple answer is profits and cash are not the same thing! The Profit and Loss Account (sometimes now called Statement continue reading...

Approaching Your Budget

  If you’re never quite sure where to start when compiling your budget, here are a few ideas to help: 1. Jack Welch Approach A personal favourite of mine! Jack simply asks 2 questions: • How can we beat last year’s performance? • How continue reading...

Why do we do Budgets?

  Sometimes it seems so fruitless, doesn’t it? We don’t know what’s going to happen tomorrow, let alone in 1-3 years’ time. I don’t think any of us has a crystal ball to enable us to see into the future (thankfully – can you imagine ho continue reading...

Managing Your Budget

  Do you have a budget to manage and you’d love to know how to do it better? Then read on! 1. Understand your monthly results When you review your monthly budget report, you are looking for variances (differences) between the actual results re continue reading...

What is a Profit & Loss Account?

  A Profit & Loss Account (P&L) shows whether a profit or loss has been made on the sales income of an organisation after deducting costs. Therefore, it shows the financial performance of a company. It is important to note that the P&am continue reading...

People = PROFITS!

“A business absolutely devoted to service will have only one worry about profits.  They will be embarrassingly large” – Henry Ford   To me, it’s always been a no-brainer.  If you look after and build strong relationships with all the continue reading...

Cash vs Profit – Part 2

Cash vs Profit – Part 2   Last month, we looked at why cash and profits differ.  Part of the reason is due to timing differences between when invoices are posted onto the Profit and Loss account and when cash is received or paid.   This m continue reading...

Catapult Your Business Growth!

  Rarely does business growth just happen.  The power is in the planning!  Follow these simple steps, take charge and catapult your business growth!   Where do you want to be.  Dream big.  Set your goals – what would outrageous succe continue reading...

Boost Your Bottom Line! Part 2 of 2.

In January, we looked at part 1 on how to get rid of those saggy bums as part of our New Year Resolutions and improve our company bottom lines at the same time.  To improve profitability, our ‘bottom line’, we can either boost our income, improve our continue reading...

Boost Your ‘Bottom Line’! Part 1 of 2.

We’re all talking about improving our ‘bottom line’ in January - getting rid of any saggy bums and improving our overall health and fitness.  How about making it a New Year’s Resolution to boost the bottom line of your business at the same time! continue reading...