The Financial Fundamentals
A practical course on financial stewardship
In this practical course you will learn and implement the financial fundamentals into your business. The fundamentals are what you actually need to run your business effectively and maximise your profits and to run your business with excellence.
The style I work with is for you to learn and do as we go and use the class time, to answer questions that come up for you about your business from having completed the sessions each week.
7 Sessions
1. How the Numbers Work
3. Maximising Your Profits
2. What Each Report Means
In this session you will learn about gross and net margins and how the right margins help you win the game of business.
You will discover the hidden trap of mark ups.
How variable and fixed costs effect your profit.
And you will learn how to price for profits and win the business you need.
Plus, you will work out exactly how many sales your business needs to generate to break even and make the profit you want, and this is after allowing for the wages/drawings you’re taking and the cash you need to re-invest back into your business to continue to grow.
2. What Each Report Means
3. Maximising Your Profits
2. What Each Report Means
In this session you will learn about the key reports that tell you what has happened in your business so that you can make better informed decisions for the future.
You will learn how to read a Profit and Loss Statement and what it is telling you.
You will also learn the importance of the Balance Sheet and the story it is telling you about your business.
Plus, you will learn why a cashflow forecast and budget are important, and where they fit into the management of your finances.
3. Maximising Your Profits
3. Maximising Your Profits
3. Maximising Your Profits
In this session you will work out the best mix of your products/services to maximise the efficiency and profitability for your business.
The products/services that you have the skill set for, the time for, and the ones that you readily have the available materials, labour and other resources for.
You will create a model of products and services that makes your business the most profitable it can be for now.
4. The Debt Terminator
4. The Debt Terminator
3. Maximising Your Profits
Welcome to the Debt Terminator session where we will be helping you to create a plan to get rid of business debt as quickly as possible. In this session you will learn how to: Review and prioritise your current debts so you know which ones to pay off first; Negotiate your debts so you have a manageable payment plan; and Eliminate your debts by applying the debt terminator principle. So that you create a plan to better manage your debts and pay them off sooner.
5. Cash Control
4. The Debt Terminator
6. Managing Your Money
In this session you will learn how to set your credit terms so that they are favourable to you and fair to your customers.
You will document your credit terms so that they are clear and in writing; and learn how to maintain your credit terms as things change in your business and the economy.
Plus, you will learn the power of managing debtors and creditors in a fair and favourable manner that improves the control of cash for your business.
6. Managing Your Money
4. The Debt Terminator
6. Managing Your Money
In this session you will learn how to put together an income and expenditure budget for your business for the next 12 months.
You will analyse your income trends so that you know what to expect.
And you will analyse your costs, so that you budget for what you should spend, rather than have you have spent in the past.
By setting a budget up like this you will be intentionally budgeting to make profit in your business.
7. Making Your Cash Flow
7. Making Your Cash Flow
7. Making Your Cash Flow
In this session you will put into practise sound financial management for your business.
You will go through a process to help match your cash inflows with your cash outflows.
You will work out your working capital requirements to grow your business.
You will learn how to create a weekly cashflow forecast and to diarise to regularly update your cashflow forecast.