ACE Finance Director Newsletter
https://acefinancedirector.co.uk/newsletter-5
If you’d like to create a strategic plan you’ll stick to, learn how bookkeeping can be simple, and reduce risk in your business, you’ve come to the right place.
BUSINESS IMPROVEMENTS
Strategic Planning In One To Five.
67% of strategic plans fail due to poor execution.
This is alarming, and poor planning could mean your business can’t scale or succeed long-term.
However, strategic planning is easy when you follow these five simple steps.
1. Start with a plan.
Be ambitious, but realistic, and base plans on competitor/industry analysis.
2. Prepare SMART targets.
Specific, measurable, achievable, realistic, and time-bound targets are easier to hit.
3. Communicate.
Speak to your team as they’re the ones implementing your strategy!
4. Track progress.
Refer to your SMART targets to keep things on track
5. Review.
Review after a set time and refine targets to reach your goals.
NEW PARTNERSHIP
Bookkeeping Made Simple With A New Partnership
We’ve joined forces with Cain & Co. Bookkeeping Services to provide a first-class bookkeeping and payroll provision.
What does this mean for you, I hear you ask?
- 100% accuracy on monthly accounts processing.
- Financial insights that help you grow.
- Time to focus on what matters…your business.
LINKEDIN ARTICLE
The Importance Of Cash Flow Forecasting In Manufacturing
Cash flow forecasting helps you predict the money coming in and going out of your business based on past performance. In manufacturing, it can provide predictability and stability in an uncertain industry, and help you plan for the future.
BUSINESS SUPPORT
How To Tackle Rising Living Costs As A Business
Rising costs are a challenge to business owners around the country, but how do you control them?
Start by assessing your existing costs and find cheaper, but still as effective, alternatives. You might find cheaper materials in the UK that can reduce shipping and import costs.
Energy is another common issue, so renegotiate supply contracts if you can. It’s also worth installing energy-efficient lighting and smart metres, and turning off equipment when not in use.
Finally, you can consider raising finance. This is great for business owners with long-term prospects and can help you handle overheads and stay ahead of the running costs.
Better yet, speak to an expert who has the experience and knowledge to help your business thrive financially.
To streamline your finances and find ways to scale, drop me a reply to this email.
BUSINESS PLANNING
Is Your Business Cash Flow In Order?
Cashflow is the lifeblood of your business, and without it, you’ll fail to provide the best service to your clients.
PwC’s annual global CEO survey highlights the importance of cash flow and what 2024 means for business models.
It also provides information on what top CEOs around the world predict for the years ahead.
While there’s general optimism for 2024, CEOs are concerned about the viability of many businesses without reinvention, innovation, and adaptation to changing market dynamics.
The key driver of growth in these times of change? You guessed it. It’s your cash flow.
