140 – Stay on Top of Your Numbers: Expert Tips for Small Business Owners
June 19, 2024
In this episode of “The Business Behind Your Business,” we discuss the critical importance of understanding your financial figures as the year comes to a close. With tax season approaching, maximising your returns and profits is crucial, but many business owners often overlook the need to stay on top of their financial data. We highlight the necessity of maintaining accurate and up-to-date financial records to make informed decisions and improve your business’s performance.
Our host, Paul Sweeney, a seasoned chartered accountant and business advisor, outlines five key financial metrics every business owner should focus on: profit, revenue, net cashflow, inventory, and debtors. These metrics help track your business’s health and ensure you can make strategic adjustments as needed.
Additionally, we revisit the essential tools every business should utilise, such as accounting software and customer relationship management (CRM) systems, to streamline financial tracking and improve overall efficiency. Tune in to learn how staying informed about your numbers can empower you to make smarter decisions and drive your business forward.
Paul Sweeney Chartered Accountant & Business Advisor, launched Pretium Solutions after a long and successful career in accounting and business advisory. Paul credits his passion for small business with growing up in country NSW, where family-run businesses were the cornerstone of everyday life.
For Paul, the driving force behind The Business Behind Your Business was to make high end, proactive, directed and value-based advisory services available to small to medium businesses.
Paul brings to the table decades of experience as a highly qualified accountant and business advisor at every level of business. Through consulting, coaching and on-the-ground training and operations, his focus is on unlocking the untapped potential for greater profitability. Paul’s qualifications allow him to pair strategic advice with an advanced understanding of taxation and compliance matters.
