Monthly consultation with your Accountant - ongoing financial planning that brings results

Business owners' Accounting & Finance: The vital necessity of financial planning

Financial planning is the kingpin of business management. It is in this area that you can booster the results of your own hard work by using a few minutes weekly or monthly for financial planning.

The basic rule of financial planning is that the more experienced the person doing it, the better the results.

For a business activity, financial planning (and monitoring) is what maintenance and servicing is to a car.

Without routine financial planning it is more than likely that your "engine" is using far too much fuel - costing you more to run it than necessary and robbing an unfair share of your profits.

Many business owners are practically orientated and the sharpest edge of their expertise is often targeted at the production and/or sales of their chosen goods or services.

Also, financial planning has traditionally been considered as something very challenging and complicated. Thus, many business owners tend to back off from it just a bit.

This leads to some degree of uncertainty, which is the worst element to have in financial planning. In fact, it's fatal. Uncertainty leads to indecision, which leads to the needed corrections being left out.

Essentially, financial planning is very easy when done the practical way. Decisions are easy once all the data about the situation is fully known, verified and set in a correct order of importance.

While none of us particularly like problems, it is of course easier to solve them when they're small. A minor adjustment is usually all that's needed. It's fast. It's easy. And the overall cost of solution is definitely at its lowest!

But to get to solving problems (and utilising positive trends) almost immediately after they've been born, you need to have the monthly accounts closely monitored... and you need to have certainty on what to do.

This is the area where we tend to waste tens or even hundreds of thousands of pounds... just to save a few hundred per year.

Using the Accounting Professional's most in-depth expertise in your company's financial planning

It is said that an intelligent person solves his problems on his own but a wise one utilises the top expertise available to him.

When it comes to the ongoing month-to-month financial planning of a company, it is vitally important to have more than one investigative mind searching for solutions.

And here, definitely, it pays off to use as TRAINED and EXPERT a "financial mind" as possible. It simply minimises the chance of something being left out - and, above all, gives yourself an excellent opportunity to learn from the best as a free bonus.

Financial planning is, of course, the thing many Accounting Professionals excel in. If an Accountant has a knack for it, if he has a fair amount of experience in it with other businesses... his knowledge is definitely a very valuable asset if you can get to use it in your own financial planning.

Whether or not you currently USE an Accounting Professional in your ongoing financial planning, it is valuable to choose one that can and will help you, if and when you need it.

It might well be the one thing that could save and/or earn you quite a bit...

INSIDER TIP

When choosing your Accounting firm, interview the specific Accounting Professional that will be serving you if and when you sign onto their service. Listen to whether or not he suggests monthly consulting - and what type of consulting and advisory services he speaks of in general. If he offers it and discussess it in some length, you will know that he most likely has the knack and experience to DELIVER this invaluable assistance. If he DOESN'T bring the subject up at all or explains it in very round terms, it shows that he probably hasn't delivered such consulting. People generally like to talk, present and offer the type of services they're most familiar with.

Correct gradient of consulting, keeping it simple and pertaining to essentials

As a chartered accountant, I can tell you that we accounting professionals easily start making things way too complicated. It is easy to slip into using accounting terminology that isn't NECESSARY to use in order to communicate the matter at hand.

Most subjects within accounting & finance CAN be communicated in normal, understandable English without the use of specialised terminology.

And they SHOULD be explained in plain English simply because a business owner shouldn't be required to have a command of OUR professional terminology, don't you think?

You're essentially paying for INFORMATION, not a course in accounting terminology - and the accountant should be able to DELIVER that information in an understandable form.

When choosing an accountant, be very conscious about how plainly he talks about financial planning. Be wary of anyone talking in complicated, hard-to-understand terms.

The bottom line is that if it isn't relatively easy to understand the accountant when he PRESENTS his consulting service, it might only get HARDER once you've signed onto the service.

Trust your own instincts. Allow SOME leeway for learning but hold onto your right to be communicated to in understandable terms right from the onset.

Complicated terminology requires learning. Accountants have had to study the technical side of accounting and finance - and that's where the specialised words come from.

Choose an accountant you can understand.

Done correctly, the consulting itself should be short, requiring only about 15-30 minutes of your time once a month to maintain. The accountant will use more time at it, of course - he needs to monitor, analyse, graph and evaluate your Key Figures before the consultation and, if needed, prepare a written programme for you after it - but YOU don't have to use much time at it routinely.

The consulting should also progress in an easy gradual pace, handling one thing at a time.

Trust me, it sounds much more complicated than it really is, once you get down to it.

Once a month, you sit down - face to face or by telephone - and talk over the previous month's figures with your accountant.

He should explain each of the Key Figure's ramifications to the various activities and fields of your business. He should give you the KNOWLEDGE of where you are, how last month compared with previous months' output and the target you set for it... things like that.

It is simple and easy - but, eventually, the RESULTS are nothing short of spectacular. The constantly increasing certainty and direction in your financial planning will inevitably improve the "power output ratio" of your business activity, leaving more fruits of your hard work for you to enjoy.

A simple way to experience what monthly financial consulting feels like

For a short while, you can get to test what it feels like to be in consultation with a chartered accountant.

We offer a special publication called the Business Owner's Profit Guide and, for a verys short while, you can also receive a bonus service with this manual.

This service is called the Business Owner's Accountancy Requirements Analysis and all it does is help you answer the questions YOU have on Accounting and financial planning.

This is the best part: You will find out exactly HOW the monitoring of your Key Figures and a monthly consultation about these would serve YOUR needs and wishes best.

The Business Owner's Accountancy Requirements Analysis normally costs £397 but if you use this offer NOW, you will get it absolutely free of charge as a bonus when purchasing your Business Owner's Profit Guide - and there's NO obligation!

But don't wait - for this offer will NOT last long... and when it's gone, it's gone!

CLICK HERE to read an introduction to the Business Owner's Profit Guide!

Robin Darch
Church Street, Tewkesbury
Gloucestershire GL20 5PA
Telephone: 01905 821200
Fax: 01905 821568
E-mail: robin@prtservices.co.uk

TOO MANY PROBLEMS coming your way in day-to-day running of your business?

Are you getting too many unpleasant surprises in running your finances? There's a specific REASON why daunting problems can spring up unexpectedly - and a relatively easy way to avoid MOST problems by a simple detection system. For even the most horrifying problems are born very small. If detected at that time, their solution requires usually nothing more than a fast adjustment.

CLICK HERE to read how you can get your Accounting service to DETECT problems immediately and help you solve them BEFORE the trouble spreads!

LOSING OPPORTUNITIES already created by your hard work but not utilised just because they go unnoticed?

Have you ever had that feeling that the TRUE potential of your business activity is even greater than what you already achieve with it? That there's something you could cash in on right now... if only you could put your finger on it?

If so, don't underestimate your insight. After all, no one knows your business and strong points better than you. But LOCATING the opportunities within your financial structure requires some "detective work" by an outside financial expert.

CLICK HERE to read how ANY business will have one or more hidden treasures - potential resources that simply haven't been noticed - and how you can tap onto yours within weeks!

BENEFITS available from Accounting service:

Which benefits should you get from Accounting services - what is really available for he who knows to ask for it?

MONITORING your Key Financial Figures:

Why should your Accounting service definitely monitor the Key Figures of your finances? Which figures - and how?

COMPARING Accounting services without being expert:

This is how you can evaluate and compare Accounting services without being an expert of finance or accounting!

COMMUNICATING without Accounting terminology:

How to estimate how clearly an accountant can communicate the essential points of finance without using professional hard-to-understand terminology?

TAILORING Accounting to meet your needs and wishes:

How to evaluate the willingness and ability of Accounting firms to tailor your service precisely according to your individual needs and wishes?

CONSULTATION on the development of your fiscal:

Why is it so important to get together with your Accountant once a month for a consultation on the progress of your fiscal year?