Frequently Asked Questions
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.
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.
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.
After the initial download, we would advise what is the best format that supports your day to day decisions in the future – for example, integrate customer data with service data so that you can constantly see how much of what was sold and delivered and when. You can then start using that format and we will no longer need to download it, you can do it in-house. We also help with thinking through detailed IT specifications that help you collect better integrated data.
A more important reason why we start with data before the strategy is that what you want is not always what you get. The numbers will tell us what part of your strategy worked and what has not, so we don’t have to repeat mistakes in the future. And numbers can tell a different story that can be used for growth.
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.
If you would rather sell and manage than get buried in Excel spreadsheets, we can do it for you and in time we’ll make sure we transfer some of the skills to you and to your people so you will be able to update the data by yourself, should you want to.
Transparency – our clients appreciate the transparency that our timesheets bring about. We can check why something took 10 hours. If someone charges you a fixed fee, you cannot check how long it took and whether you got value for money.
Flexibility – it allows us to start and stop working with you when and how you need it and we are not pressed by the time that was calculated into the fixed fee.