Frequently Asked Questions

Are you very good at managing your cash? Have created your own cashflow but you don’t get the point of having a similar spreadsheet for the profit and loss statement?  Have you asked your team to build reports on revenue per account and per project and the numbers do not make a lot of sense?

Have you tried to establish the profit per project to check your pricing and you have not managed to get too far? Did you give up in agony at the detail required? Do you think that there is not much you can do about the cost? Is it just about selling more?

If so, take a look at the Tool Kit section. If you don’t understand what those indicators are about, you have never calculated them for your business and you gave up reading in desperation, then yes, this is for you.

You can start with turnover, if you suspect that growth is not where it should be. Make sure you have a clean spreadsheet with all the clients who have ever bought from you, ideally with values (VAT excluded), unit of sales (for example, number of projects or days sold), year and month of the sale and other criteria you usually use when you analyse your sales. Create a similar spreadsheet for your database of sales contacts. First of all, ask us for a Non-Disclosure Agreement and then send us the data to try us out with no obligation.

Or you can start with the cost if profit is your issue. Again, ask us for a Non-Disclosure Agreement and send us your income statements for as many past years as you can. In this case, we will come back to you with a lot of questions to clarify what we see and build percentages around your costs. We promise it will be worth your effort.

Better still, go to WHERE TO START and you will find a diagnostic survey for your current needs. After you complete it, we will give you some pointers based on what you told us. We also post summaries from other entrepreneurs’ results of the survey and you can see how you compare with others. Rest assured, confidentiality is respected throughout the process and you can stay anonymous should you wish to.

No. It won’t cost you an arm and a leg. We know small businesses and we know the constraints. If you started talking to us, chances are you have some financial difficulties.

We always start with a free of charge exploration of your data to see whether we can be of any help. That is free because it is our due diligence. We usually find a lot of ‘fat’ in your costs the first time we look. Our consultancy fee will only be a fraction of what you already spend on things that you can do without.

When we charge you for work, you will always know why, what for, and how long it took. We will also account for our consultancy fee in your budget so your profit will be always way above what you pay to us. Actually, we want you to make a lot of profit and keep working with us in the years to come.

Unfortunately, no. If you have been chronically unprofitable and you have had years of over-spending or over-staffing your office, it will take around six months to feel more comfortable. Actually, you will get a little worse before you get better. You may actually feel worse when you see the effect of your past decisions and habits on your financial health. Yet, you will probably feel a real turnaround and stability in a year and a half. It could be even longer, if you are used to borrowing money when the going gets tough and your loans are piling up. Sorry, but it’s important to be realistic.
First of all, think about who that would be? Your accountants will not do your projections. They are busy counting the past beans to sort out your taxes. Chances are they do not know your business very well anyway. Do you have someone internally that can do that? That is great – but how do you know what to ask them to show you so that you can make decisions accordingly? Understand the basis of the information first, then make decisions based on that. This is your money, by the way.
Accountants are about precision. We are about decisions and believe that each number in your books uncovers a decision. Whether it is a decision to charge a certain price to clients or increase your marketing efforts, your financial results reflect them all.

You need separate and bespoke financial reports and projections that will help you do something different next time. You need embedded percentages, ratios, analyses and comparisons from the previous two, or ten years, whichever is of relevance to your business. It requires some accounting information, other data that you already collect and a lot of your thinking. This is called management accounts and yes, it doubles the effort and multiplies the benefits over and over again.