Financial Management. Is it all a bit Greek to you?
How many times have you had conversations with folk in recent months about whether or not you really understand why Greece has run out of money, is not paying any taxes and their economy is on its knees? Do you sometimes feel a similar (but hopefully, not as cataclysmic!) sense of confusion around your own numbers?
So, as an MD/Director, how well do you understand your own numbers in your own business – are you learning on the job, relying on your accountant to let you know what you need to know at the end of the year (and then get all frustrated when the numbers look bleak and you don't understand – not actually your accountant's fault) or you may be a "natural" with figures (if you are lucky). Most entrepreneurs are very good with figures but very few of us go into the MD role knowing about how to put together a cash flow, a budgeting forecast or a profit and loss account.
Financial management is one of the key areas that MDs often keep quiet about, until the going gets tough and you need to prepare figures for an investor, bank loan, overdraft or when you need to examine hefty losses.
Great financial management and understanding can help you to feel in control of all of the above and it can also give the confidence to increase prices, profitability and take your business from strength to strength.
MDHUB is now offering Financial Coaching sessions on a 1 to 1 basis for MDs.
Contact Phil Green on 07970 193053 or firstname.lastname@example.org