Reviewing Financial Performance

Put Your Financials To Work In Your Business

Four Simple Steps

STEP 1 Decide what you need to know

Financials - Business owners and managers need accurate and timely financial information to empower their decision making. 
Know the answers to these questions and many others:

• How Profitable is my business?  
• How much can I borrow? 
• Can I pay my bills as they fall due?

Key Measures – Business owners and managers need to know the key numbers that drive the performance of their business. Find out what they are, and MEASURE THEM. They are the heartbeat of your business.

STEP 2 Measure what you need to know

Financials - Produce a Profit/Loss Statement, a Balance Sheet and a Cash Flow Statement regularly.

Key Performance Measures - Measure that heartbeat that drives the performance of your business.  

STEP 3 Understand what you need to know

Empower yourself with information and understanding about your business.
Review your financials and the key measures for your business regularly.

STEP 4 Act on what you have learnt 

Make informed decisions and take action based on the understanding you have gained about your business.
Ensure constant Improvement of your business.

OUTCOMES

• Well informed owners and managers
• Good, pro-active decisions based on accurate and timely information.
• A culture of constant improvement.
• A profitable business.