Make Better Financial Business Decisions

Making financial decisions in business can be a complex and intimidating process. The key to successful financial decisions is to have a thorough understanding of your business finances, a well-thought-out plan, and an awareness of the risks and opportunities associated with the decision. 

Start by making sure you understand the financial statements of your business, including the balance sheet, income statement, and cash flow statement. Use these to get a clear picture of the financial status of your business. Income statements and Cash Flow will give you the best and most accurate picture of your finances. 

From here, create a break-even analysis of the business or project you’re working on. This will show you how many units and revenue you need to sell in order to create a profit. This is where you must be honest with yourself. If it’s realistic that you’ll sell those units, great. If not, then it’s time to revisit the cost or project itself. 

Once you’ve done that, you can start developing a plan - and make it SMART. What does success with this project look like? How will you find clients or customers for the new services? What does the process look like? You can’t just create a post on instagram and hope for the best - been there done that! 

When I’m making decisions, I create a cashflow forecast, breakeven, with a mixture of gut instinct and client feedback. 

Finally, be sure to document your decision-making process and results for future reference. So often when we are faced with big decisions we freeze with information overload. Having a clear plan helps us navigate. 

Now, of course, you’re not alone. Book a 60 minute clarity session with us now