joanne s

Author Archives: joanne s

August 4, 2016

What are you really worth?

That’s got you thinking, hasn’t it? Where do you start? Your net income? Your net assets? Your intellectual property? Your business may have a high turnover, but how much of that is actually profit? How much would your business be worth if you decided to sell it tomorrow? What is its future value?

The Business Growth Academy helps you to understand the numbers that drive your business and calculate its true value. Founded by Jo Stevens, a qualified accountant and number strategist, the Business Growth Academy shows you how to increase your net profit and increase your personal net asset position. We will guide you as you take your business apart figuratively, analyse the numbers and put it back together in a much healthier position. You will see where your hidden profits are and learn how you can release them.

As our name suggests, we are all about business growth! We know we can make your business more profitable, and if you come along to one of our introductory sessions http://business-growth-academy.co.uk/register-for-business-boardroom/ we can show you how we will do it. We’re not about gimmicks or fast fixes (although you will be amazed at how quickly you will see results), we’re about finding ways to maximise your profit, looking at the ways you can grow your business and seriously increase your value.

Because whatever you think you and your business is worth, the Business Growth Academy can multiply that figure beyond your wildest dreams.

August 4, 2016

What is the true cost of acquiring a customer?

When we acquire a new customer we anticipate that they are going to represent value for money and increased profits in the long term. But what is the true cost of each new customer?

When we work with business owners at the Business Growth Academy we don’t just look at how you can get new business, we look at the numbers involved in acquiring it. The key is to identify the Return On Investment (ROI) on all activities.

There are many ways to acquire a new customer:

  • Buy in – pay for each lead you receive
  • Up sell – sell more to an existing or previous customer
  • Cross sell – either something new to an existing customer or to a new customer via an existing contact

Each method brings in new business and we show you how to evaluate the benefits of each and measure the ROI on the time/money and other resource it takes to achieve each.

We also look at the lifetime value of prospective customers, and we help you to strategize for customer retention and growth. Together we find the most cost effective means of gaining, retaining and growing new business.

Think about how you acquire new business. What do you include when you calculate how much it costs you? Your advertising costs? The time you spend networking? The time you spend on social media?  The time the actual sales process takes? Are there costs involved in the sign-up? (this will vary significantly depending on the type of business you have but could involve credit checks, business research, new software, new hardware, the list goes on).

Could investment in your staff mean they can take on more responsibility for gaining new business? Can the customer service role be enhanced to include customer acquisition?

There is a lot to think about, but don’t be daunted, come along to one of our introductory events http://business-growth-academy.co.uk/register-for-business-boardroom/ and find out how you can increase your profits and start making your business work harder for you.

July 25, 2016

How much is it costing you, not knowing your numbers?

As a business owner it is vital you know the numbers that make up your business. If you don’t, you cannot successfully plan for growth or be sure you are making optimum profits. In fact, if you don’t know your numbers, you can be pretty sure you are NOT making optimum profits!

Some of the fiscal penalties of not knowing your business numbers are: paying too much tax, paying fines from late HMRC payments and paying unnecessary borrowing costs. Are you seeing a pattern yet? All of these are examples of you paying out money that should be in your pocket, profit given away, because you do not understand the numerical workings of your business.

And it’s not just financial numbers. By analysing the numbers that drive your business performance you can drive your business results up.  Examples include productivity, efficiency, return on marketing spend, wastage.  They differ with every business we work with although there is common ground in that the businesses we work with that know these get better results every time.

But don’t panic, you don’t have to be a qualified accountant or a mathematician to get to grips with the digits that can make or break your business. Come along to one of the Business Growth Academy’s Introductory Sessions http://business-growth-academy.co.uk/services/ to find out how we can help you to maximise your profits and keep more of your hard earned cash for yourself. As a qualified accountant number strategy is what I use every day to see hidden profit in your business and show you how you can release it.

Once you understand your company’s numbers you will stop losing larger contracts and start winning new ones, because you will know how much you can spend on each; you will have a lower staff turnover, which will save you the cost of training new staff, because you will know your team’s value and be in a position to pay them what they are worth; and you will increase sales and profits.

The Business Growth Academy is the key to unlocking hidden profits in your company, because your business growth is our business goal.

Until next time keep growing

 

July 14, 2016

Is Your Money Working Hard Enough For You?

It’s not just your time and energy you invest in your company; you also have a lot of money tied up in there. But how much of it could be released? How much could be converted to profit? Every business has hidden profits – so why not unleash yours today?

At the Business Growth Academy, we can show you how to analyse your business to find those hidden profits and help you to release them. Every business is different, we understand that, but the same principles apply when it comes to business growth and increasing profits. Because the Business Growth Academy was founded on my background in accounting, our courses are all number-centred.

Areas we explore in the businesses we work with cover all the figures in their business, not just turnover and profit:

  • We look at how much you spend and where savings could be found;
  • We analyse how efficient your systems, processes and work output are and how they can be adjusted to represent optimum value for money;
  • We examine your pricing strategy and what improvements could be made.
  • We investigate how you can increase your turnover and how you can convert that turnover into maximum profits.

A key measure in all activities is return on investment – that could be investment in money, staff, technology, R&D, equipment, property or simply your own time.  What’s important is that the business is generating a return that is more than they would get if the same investment were invested elsewhere.  You probably recall the business owner I quote as finding out they were earning just 80p an hour – could you also make more stacking shelves at your local supermarket?

What we measure differs for every business we work with.  The list above is just a taster of the things we look at.  We do all this together because for your business to grow, you need to understand the figures that make it up, and you need to make the changes.

If you want to take your business to the next level and would like to see why our approach works register your interest in our next business boardroom, click here to find out more http://business-growth-academy.co.uk/register-for-business-boardroom/

Stop working so hard for your business, and make it work harder for you.

June 9, 2016

TAX – Be prepared

It’s not going away; it will only increase if unpaid, and could cost you a lot more than money, so come on, make HMRC your friend and make the process less painful.

At Business Growth Academy (link to course info) we will show you how to plan for the end of the tax year, minimise the amount of tax you pay and get back what is due to you. Jo’s accounting background means she is well equipped to provide you with guidance that will ensure you are not paying more than you should be, are recording transactions properly and keeping the relevant documentation.

Depending on the complexity of your business, tax returns may be relatively simple, with receipts acting as documentary evidence, or you may need the services of an accountant to file your return and provide you with tax planning. Whichever is the case, planning is key, and the benefit of budgeting for the inevitable return cannot be understated.

If you are not employing an accountant, keep yourself up-to-date with tax relief legislation, to make sure you are not paying more than you need to be and make sure you include tax payments in your cash flow, so there are no end of year nasty surprises.

We all know that death and taxes are the two unavoidable situations in life- don’t let tax be the death of your business.

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