San Francisco, California
London, United Kingdom
Today’s workshop is on the topic Profits. Many times do I advice small and medium business owners on the importance of finance management especially in terms of managing your cash flow. Cash flow is of vital importance to the health of a business. One saying is: “revenue is vanity, cash flow is sanity, but cash is king”. What this means is that whilst it may look better to have large inflows of revenue from sales, the most important focus for a business is cash flow.
Many businesses may continue to trade in the short- to medium-term even if they are making a loss. This is possible if they can, for example, delay paying creditors and/or have enough money to pay variable costs. However, no business can survive long without enough cash to meet its immediate needs.
It takes money to make money. Businesses have to consider their finances for so many purposes, ranging from survival in bad times to bolstering the next success in good ones. How you finance your business can affect your ability to employ staff, purchase goods, acquire licenses, expand and develop. While finances are not necessarily as important as vision and a great product, they are crucial to the growth but most importantly the success of the business.
I also believe small business owners need to change their practices to focus more on profit and this goes hand in hand in looking at essential business strategies like reducing costs, increasing turnover, increasing productivity, increasing efficiency, expanding into new market sectors and/ or develop new products or services.
Today’s workshop will look at the following:
- Demonstration of how Profit Rocket works, a revolutionary system designed to take you through live stages related to your business and enable you to increase your profits by 20%.
- Money Motivation- How to motivate you to understand that money matters are not daunting but essential and can be fun depending on how you would approach it.
- Cash Flow Analysis- A detailed overview on how to compile and manage your cash flow in your business.
- Profitability- Effective short-term strategies to increase profitability within your business.
There will be a lot to take in today’s workshop but as a business owner you will come to terms with the fact that if there is no money to be made then why call it a business?
I hope today provides you with a new and improved way in managing your business finance and I look forward to receiving your feedback forms.
1. Mavis Amankwah
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Rich Visions Small Business
Rich Visions Small Business (RVSB) provides professional Business Support (for start-ups and existing businesses), Funding Assistance, Marketing and PR services to Small and Medium Enterprises (SMEs), Entrepreneurs, Sole Traders and Organisations that want to start, grow or expand their businesses and enterprises.