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Finance Coaching

The importance of a solid finance operation can’t be understated

Many new business owners feel the job’s done once the invoice is issued. You’ll soon learn that your eagerness to issue an invoice is only matched by your client’s eagerness to delay payment. If you don’t keep on top of your invoicing, you’ll soon have an aged debt issue which means you’ll also have a cashflow issue.

But the finance department isn’t there just to chase money. It’s there to ensure every area of the business is performing to its best ability. It should be looking at your marketing spend, analysing where the best returns are being achieved and funnelling funds from poor performing marketing channels into the strong performing.

Your finance department is running the numbers on your sales team, measuring conversion results and advising on changes.

They’re looking at your spend in operations, constantly searching for ways to make money go further.

In the finance department they’re constantly monitoring your money in & money out, juggling payments to suppliers so that the money due in arrives before it’s due out.

As the company grows and increased investment in staff, materials, office space etc increases the finance department will be forward projecting the call on funds to ensure you remain liquid during the growth phase. If there’s a need for short term funding during the growth period then a detailed forecast can be presented to potential funders, creating the confidence to lend.

A great functioning company is not ruled by the finance department, but their input is definitely sought on every decision.

The constantly evolving finance section of the grow Partnership website gives you access to videos, written text & downloadable documents to help you navigate the world of finance.

Contact Us Today To Have Your Free Consultation & Start The Journey That Takes Your Business From Surviving To Thriving