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Money & Finance

It’s time to get serious and look at your business from a numbers point of view. 

It is too easy to stick your head in the sand and pretend all is going great, but if you want to be a successful business owner, you need to be facing the reality of numbers much more regularly than you think. 

We set out to help you understand the numbers in this bundle. Go ahead, take the leap!

Money & Finance Bundle

Are you ready to start understanding numbers and making it part of your daily, weekly or monthly process in business? Time to get to know your numbers… Let’s start with the basics

Income

In your business income is the money you receive from your customers. It may be for the sale of a product, service or value you provided to your customer. 

Expenditure

Expenditure is any costs associated with your business, marketing costs, internet, outsourcing, subscriptions, product costs and even your time. 

Profit

Many people confuse income with Profit – so not to confuse you, what your business makes is not a profit! Profit is Income minus expenditure equals Profit. 

Building Consistent Income

Business can be unpredictable and at times difficult to plan for. Especially when you are starting out, having consistent income can be hard to achieve in your business. Whilst your running costs needs to be covered, despite if you had a bad or good month. 

 The reason most businesses fail is Cash Flow – because they simply run out of money to cover their costs and liabilities. To ensure that this does not happen – we have two main tips…

Build passive income streams

Start adding more income streams to your business, some of which can bring it passive or semi-passive income, so you stop trading time for money.

 Having more products or offers to sell, will ensure that you have multiple income streams to support your business. 

 

Manage your money better

No doubt one of the best ways to consistent income is making sure that you have clear visibility of your numbers. The more you understand and know about your business cash flow and profitability, the more empowered you will feel to make the right decisions timely. 

Action Points:

Take action to get your business financially savvy. 

Review your products

Not sure what you are selling? Or why there is no money coming into your business? 

The first step is to identify all of your sellable assets – what do you currently have on offer? Can you create new products or services or simply re-package something you already have into something new?

Track your numbers

Tracking your finances, income, and expenditure is one of the fastest ways to identifying problems in your business and assessing the viability of your business. 

When was the last time you assessed your monthly cashflow? Are there areas where you can reduce cots? 

Create systems

Do you have systems in place to help you with your invoicing, payment collections? How do you currently handle late payments? Do you have accounting software in place to track your numbers? There are many things to consider when it comes to systems, start by taking a review of what you have in place and see where the gaps are. 

Building Consistent Income

Building consistent income is a workshop designed to help you get focused on the income and expenditure of your business. Mapping out consistent income plan for your business and creating structure so you can see when and where your money flows. 

In this workshop you will learn more about building various income streams, managing your processes and being able to predict your income in the future. 

Grab a pen, download this workbook and get started right away!

Nurture Your Numbers

Nurture your Numbers is  1 video from 3 part mini video series from our Member’s Club covering the basic practices of bookkeeping and accountacy of small business. In this session, our expert Iona Callaghan will cover: 

Financial Focus – An overview of a solid bookkeeping and accounting process. With some top tips on how to track your sales and boost your profits.

Bonus workbooks

So in this bundle you already heard the terms, Profit, Income, expenditure, Cash Flow. Time to dig deeper and understand these terms a little better and learn how to create your own Cash Flow Statement and Balance Sheet for your business. 

Cash Flow Statement

What is a cash flow system and how to use it to find out the liquidity of your business? Learn more in this practical workbook.  

Balance Sheet Template

Are you feeling a little stuck with spreadsheets? Maybe you have read the workbooks and now want to put the numbers down on paper? Go ahead and download the copy of out Balance Sheet template. 

Balance Sheet

Are you wondering how profitable is your business? Balance Sheet will help you identify the viability of your business in a snapshot. 

Members Only Blog 

As a member of our community, you get access to our dedicated members-only blog section. 

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