The current economic climate has highlighted the need for many to keep a closer eye on their finances and the performance of the business.
Research has been undertaken to establish what the UK’s most successful businesses do every year. The findings focus on 8 key areas:
1. Have clearly defined and measurable goals
2. Measure performance with management accounts
3. Understand your annual performance and set of accounts
4. Evaluate your performance against previous years or periods
5. Compare your performance and benchmark against your industry competitors
6. Understand and monitor your business valuation
7. Measure your key performance indicators to understand your profitability
8. Produce a defined performance improvement plan
Do you have a system that reflects on these 8 areas?
Are you focused on the right numbers in your business and not those that are simply an outcome such as turnover and profit.
My mentoring support includes utilising my background, experience and knowledge to understand your numbers and the improvement potential.