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Embracing A New Business Attitude

Whether a start up or small business; in order to ensure that long term success is possible, it is crucial that goals are outlined and focus remains clear. It is also just as important to ensure that you rigorously monitor your finances and have sufficient control over incomings and outgoings.

For business owners, although these tasks initially appear to come naturally; it can be all too easy to slip up.

Whatever your enterprise, if you are a business owner ask yourself; have you stuck to your original goals and aims and have you ensured you take control of your finances every step of the way? Here at Calculated Accountants, our experience has taught us that with the great quantity of everyday tasks including sales and employee management, it is all too easy to let the bigger picture slip.

As we are well underway in this New Year; now would be a fantastic time to ask yourself whether you have the right attitude?  Whether 2013 was a successful year, a year your company struggled or a year that simply could have been better; now is a great time to change your attitude and ensure that you don’t make the same mistakes twice.

Developing that New Business Attitude... 

Below are a few of the things to monitor, in order to ensure that you never make the same mistakes twice...

  • Accountants- It may seem as though we are being biased by suggesting you seek advice and outsource your financial needs but just ask yourself; how well controlled and monitored were your finances in 2013? Did you regularly maintain your books? Did you accurately record every minute detail? Did you file your tax and vat returns on time and when it came to your Year End, was it all easy to look back on? Maintaining your finances is no easy task and requires a great deal of time and effort, often something which many business owners do not have. Why not outsource one or more of your financial duties? There are several accountants who work on a fixed fee basis so you can ensure that your finances are being taken care of, without any surprises.
  • Employee Training- Your business is only as good as the people who work for it, so is your team at its best? It is important that you do as much as possible to help your staff members thrive and gain the skills they need to do their jobs efficiently. Have you been giving your staff enough time and attention? Have you been taking care of them, helping them to gain focus and feel confident in their roles? Take a step back and look at how you can bond with your team and help them get better in what they do because only a strong team with a strong and dedicated leader can be unstoppable!
  • Daily Financial Monitoring- Whether you choose to outsource one or all of your financial tasks or not; it is important to ensure that you are rigorously monitoring your incomings and outgoings. Cash flow can make or break an enterprise so consider looking at what you are paying and whether you could get cheaper deals and so on (we cover this more in an earlier blog post). Also consider whether your own clients are paying you fast enough and whether or not there may be something you could do to speed up the process. Good cash flow is crucial so keep this on top of your list.
  • Business Plans- For any business owner to have gotten where they are today, a solid business plan is a must but it is not surprising to find many have not so much as given their plan a glance in years. If your business is to ever maintain focus it is crucial that you remain aware at all times, of the short term and long term goals that you originally outlined.

The above are just a few points to consider in order to ensure that 2014 is a year to remember for all the right reasons.

If you haven’t done so already, give your attitude a little would be surprised as to how good things can get. 

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