How the Profit Flywheel Accelerates Your Business
This is the 12Faces structured roadmap to growing your business. We use the flywheel to explain the structure of the material. It is one of many possible roadmaps to growth. Use it as a suggestion tool to incorporate into your business planning. Yellow Belt
How to Measure Net Cashflow
Cashflow is the lifeblood of any business. If the speed you collect cash owing to you is slower than the rate you pay it out to your suppliers, you are going to find it increasingly difficult to find the money to pay your suppliers. Unless this is rectified, you stand a good chance of going […]
Critical Financials for Business Explained
Many Owners overlook the vital business health information available by an analysis of your financials It all sounds too hard so keeps getting put off till “later” But your profitability and cashflow is easily monitored for adverse trends Accounting terminology differs between countries and even between accountants. Use our accounting terminology translator for unfamiliar terms […]
SM6.01 Introducing CashFlow Magic with “Piggy Banks”
Cashflow Piggy Banks: A Simple Way to Master Your Business Money 💰 As a small business owner, keeping track of money can be stressful. You might see a lot of cash in the bank, but how do you know if it’s really yours, or if it’s earmarked for a big expense that’s coming up? Cashflow […]
SM6.5 Profit Autopilot “Piggy Banks”
By the time you have reached this point in this 4 part series on Profit Autopilot, you have learned how: To be reasonably confident of making a predicted Profit and paying yourself a Salary. To be confident that you will have sufficient money to pay your Tax and at least break even at the end […]
How to Reduce Variable Costs for Better Profit
Summary Especially in a manufacturing business, the variable cost of parts, resources and energy etc are likely to be a substantial part of your overall costs. This 12Faces Menu is a collection of distilled business wisdom relating to managing and reducing these costs. Variable costs are those that are directly tied to your level of production. If you produce more of an item, […]
SM6.6 Profit Autopilot “Piggy Banks” Video
We have a 15 minute video on the use of Profit Piggy Banks as part of the Profit Autopilot series.
The Video gives you a speedy introduction to how the Piggy Banks work and why they will reduce your stress over bill paying.
They help to ensure you have money available when needed to pay bills as they fall due.
Watch this 15 minute video on the link below
SM6.1 Profit Autopilot – Background Information
Among the largest contributors to the failure of both small and larger businesses, are either, they fail to make a Profit or they incorrectly account for their cash and run out of money to pay their debts and tax liability.
This is particularly acute in small businesses where the owner/operators do not necessarily have much experience in financial matters and find themselves in an unexpected cashflow crisis.
The Profit Autopilot Skills Module turns conventional accounting on its head by starting with a focus on Profit first. It also introduces a simple set of “Piggy Banks” that give you a “set and forget” approach so that when tax and other expenses become due, you have sufficient funds to pay. And, along the way, you have also taken out not only a Wage but a Profit as well.
How to Boost Your Accounts Receivable
Accounts Receivable: “The process of collecting money your customers owe you.” Failure to have this process working well leads to insufficient cashflow and is a major contributor to business failure. Ignore it at your peril! Yellow Belt