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In order to know where you want to be, you must understand where you are now and what the gap is in between…. A goal is a dream with a deadline. Napoleon Hill What is your motivation? Why did you start your business? What drives you, what gets you to take...
You are overwhelmed, you have so much to do that you are paralysed and don’t do anything - or it feels like you don't do anything. Having so much to do that you don't know where to start is a common challenge that many of us face in today's fast-paced and digital...
Claiming for fuel - how good record keeping can save you money. When and how can you claim for fuel costs in your business? If you are driving a company car, it's likely that the fuel costs are covered by your company and you are paying a taxable benefit in kind on...
What are accruals? It has been a long-accepted accounting principle that revenue and costs should be recognised as they are earned or accrued, rather than when their cash value is received or paid. Income and expenditure should be matched with one another where...
The difference between Goals and Objectives A goal is a general statement, a broad outline, it’s open ended and helps set the scene. For example, ‘I want to earn more money this year’ Well, earning a £1 more than last year achieves that goal so it’s not going to...
Turning Objectives into Actions An ounce of action is worth a ton of theory. Ralph Waldo Emerson We have set our goals and turned them into objectives. Now we need to work out what actions we need to take, and who is going to take them in order to achieve our...
A guide to overcoming your businesses cashflow problems and tackling late payment. More than any other factor, a business is defined by the balance between the money coming in and the money going out over any period of time. Ideally, the scales should be tipped in...
Debits and credits can sometimes seem confusing but you will need a basic understanding of how debit and credit transactions affect your accounts to be able to understand your business reports and spot any anomalies. The concept of double entry accounting dates back...
A question we are often asked - is profit or cash more important. Both are important of course, but for a business to survive it needs cash first and profit second. A balanced approach and clear objectives should focus the company on delivering: 1. Effective and...
The business is growing slowly but surely, you have a great sustainable and profitable customer base providing you with a comfortable income, good relationships with suppliers and a happy team working for you. You realise you are ready for the next step but realise...