Managing the finances can be confusing and frustrating, but you know you need better financial discipline. Here’s how you do it.
If you are the owner or manager of a small business, you know that if you don’t run the finances well your business may die.
More than half of businesses fail before they get to their 5th anniversary, and the economic climate at the moment is tough, to say the least. If you don’t have the right disciplines in place you will eventually make a disastrously bad decision, run out of cash and the business you worked so hard for will be in tatters.
So how do you get the right financial management disciplines in place? There are two words that sum up good financial management discipline:
- Be Intentional - Do things because you mean to do them, and mean to do them because you plan to. Think, plan forward and stick to the plan.
- Be Analytical - Take things apart and look at problems from all sorts of different angles, gather information, compare. Use information after the event to work out why things worked or didn’t work. Use information before the decision to work out how much of a risk you may be taking.
Being intentional and analytical sums up the key points in every area of financial management, whether that be cash management, profit improvement, management reporting, strategic planning, risk management or budgeting.
So where do you start?
Charis FD was formed to provide financial management “best practice”, developed and honed in larger businesses, to smaller businesses. Small businesses normally grow up without the benefit of qualified financial professionals, which are too expensive to employ full-time in any case.
My main service is a tailored and flexible combination of regular onsite assistance from me and phone/email reactive support, aimed at putting in place financial management disciplines in every key area. This should help you to rest easier, knowing that the finances are in good hands, so that you can focus on building the business.
Other services include bespoke project work, including assistance with due diligence, change management, systems implementation or acquisition integration.
Free Special Report - The Essentials of Financial Management for Small Businesses
I write regularly on the subject of financial management for small businesses. This Special Report is an 8-page article I wrote that boils down financial management to the essentials. It outlines six basic things that all businesses need to pay attention to in order to manage the finances well.
When you sign up for this report, you will also get two bonuses:
1. A second article, entitled “8 Mistakes That Drain Your Cash”; and
2. A subscription to the Creative Finance & Management email newsletter. I send that out every two weeks with tips and advice on how to manage the finances well in your small business.
To get the Special Report, The Essentials of Financial Management for Small Businesses, just enter your name and email address below and click on the button. Remember, this is without cost or obligation.
Charis FD is the product of 15 years (and counting) of varied experience and acquired expertise in financial management, based on solid business qualifications. With our services you’ll go from someone struggling with the business finances, worried, confused and frustrated that unknown mysteries will come and catch you out, to someone who runs their business confidently and successfully, knowing their finances are in good hands. Enjoy browsing the site, and if you have any questions please don’t hesitate to get in touch with me.
Andrew Burrows BSc ACA MIoD - Charis FD
Owner, Charis FD - Your Friend in Finance
