Business Advisory

Case Study: Using Financial Forecasts to Drive Growth and Profitability

Client Nicole and John McGee started Busy Bee’s Cleaning Service five years ago. The business services homes, offices, schools and corporate clients. Problem While Busy Bee is a terrific business with strong revenue, it could not turn a profit. After deciding to end a large labor hire contract and losing more than 60 team members, Nicole and John were unsure how the business was going to survive and were desperate for professional advice. Solution Nicole and John contacted their Accountant. They needed urgent advice and help to update their business plan and financial forecasting. The Accountant assisted them to reassess [...]

2018-03-03T11:55:20+00:00March 3rd, 2018|Business Advisory|Comments Off on Case Study: Using Financial Forecasts to Drive Growth and Profitability

Advantages of Business Forecasting

Financial forecasts assist in managing your finances. They are future predictions of your business finances, as compared to statements, which provide details of actual results of progress. The following are five ways forecasting can help your business: Focus on the Future By forecasting on a regular basis, it forces you to continually think about your future and where your business is headed. This will allow you to foresee changing market trends and stay ahead of your competition. Customer Satisfaction Keep your customers satisfied by providing them with the product they want, when they want it. The advantage of forecasting in [...]

2018-03-03T11:54:57+00:00March 3rd, 2018|Business Advisory|Comments Off on Advantages of Business Forecasting

Case Study: Build An Online Community To Grow Your Small Business

Client When Susan Blanchett was told she no longer had a job, she decided to start her own business making and selling macaroons from home.  Requests from friends turned into orders, orders turned into an online business:  Macaroons4U.  Within six months, she was taking so many orders, she decided to open her first store with her partner, Neil. Problem Susan and Neil had limited funding.  They could not afford an expensive professional marketing plan.  They knew that social media and developing a loyal online community would be key to their success.  Susan enthusiastically created a Facebook page and boosted some [...]

2018-02-05T09:00:53+00:00February 5th, 2018|Business Advisory|Comments Off on Case Study: Build An Online Community To Grow Your Small Business

Stand Out With Your Brand And Presentation

“The most Beloved Brands are either different, better or cheaper. Or else, not around for very long.” Firm Branding Branding your business is important.  It helps customers and prospects identify with your business.  Consistent use of your logo and presentation of materials is critical to building that recognition. Also consider your business name.  What message is that sending to customers and prospects about the type of work you can do for them? Firm Presentation The following six (6) simple tips can be easily implemented to make your business stand out in the marketplace: Signage: Your signage and the way your [...]

2018-02-05T08:58:33+00:00February 5th, 2018|Business Advisory|Comments Off on Stand Out With Your Brand And Presentation

Case Study: Partner With Your Accountant To Improve Your Business

Client INNOVAT is a graphic design studio.  The business employs 20 talented people and is the brainchild of entrepreneur and owner, Richard Brown.   Problem The business had a relationship with an Accountant but Richard wanted a fresh start.  He approached a new Accountant to take on their work.  The initial brief to the Accountant was to assist the business with a review of their systems and processes.  In a nutshell, Richard felt they were inefficient.  His team worked very hard but he wanted them to start working smart.  The measurable outcome Richard wanted was an improvement in billable hours for [...]

2018-01-05T09:00:48+00:00January 5th, 2018|Business Advisory|Comments Off on Case Study: Partner With Your Accountant To Improve Your Business

Mentoring For Growth

A business advisor can help you take your business from where it is now to where you want to be.  They have the advantage of looking at it from the outside without being tied down by the day-to-day running of your business.  A business advisor can help you see what is holding your business back and put it back on the path to success. These are some common areas that your business advisor can step in to assist you with. Dwindling Profits: If your profits are inadequate, dwindling or stagnating, it may be time to get help.  Your business advisor can [...]

2018-01-05T08:59:57+00:00January 5th, 2018|Business Advisory|Comments Off on Mentoring For Growth

Case Study: How A Cost Accounting System Improved Efficiency And Profit

Client Ann Marie owns a manufacturing business which makes a high-end product. She varies her design from time to time so there are many versions of her primary design. Problem Ann Marie did not have a cost accounting system that would determine the cost of producing each version. So she did not know which ones were cost-effective to produce and earn her more profit and which ones were not. Solution She engaged her Accountant to select an appropriate cloud-based cost accounting system to tailor to her needs. The Accountant analyzed the manufacturing process and determined the basic activities involved. The [...]

2017-11-29T11:37:21+00:00November 29th, 2017|Business Advisory|Comments Off on Case Study: How A Cost Accounting System Improved Efficiency And Profit

How To Know What It Costs To Create One Widget

Cost accounting is about calculating the total cost involved in the process of production.  In a nutshell: “What it costs to create one widget!” Estimating the accurate cost of products is critical for profitable operations.  A business must know which products are profitable and which ones are not, and this can be ascertained only when it has estimated the correct cost of each product. Key Objectives of Cost Accounting Cost finding Cost planning and controlling Cost analysis for managerial decision Six Advantages of Cost Accounting Helps in cost control Helps in decision making Guides in price fixation Helps in cost reduction [...]

2017-11-29T11:36:50+00:00November 29th, 2017|Business Advisory|Comments Off on How To Know What It Costs To Create One Widget

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