mtGrow

Analysing and Improving your Business

Insert Overview of Service

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Key Selling Point One

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Key Selling Point Two

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We can handle all this for you:

Profit Reports

Profit Reports play a vital role in measuring your success in terms of overall profitability. By analysing your revenues in comparison to your expenses, profit reports are able to provide a clear snapshot of how profitable you are at any given time, in addition to highlighting any areas in which the business should minimise expenses. Profit reports are also able to show you how potential increases in revenues and decreases in expenses will affect your bottom line. Your Accountant at Marsh Tincknell will be able to utilise profit reports to convey how your business is currently travelling, and how you can maximise profitability in the future.

Net Worth Reports

Net Worth Reports provide you with an accurate depiction of your company’s total worth at a fixed point in time. By analysing your assets, liabilities and equity we are able to clearly display how your company’s value has progressed over a given period of time, and highlight areas which are limiting your growth.

Budget Preparation

You may know where you want your business to go, but what is often clouded in mystery is how you’re going to finance it – in real dollar terms. That’s where budget preparation comes in handy. We can assess your finances, look at your strategic plan – and make sure that the two properly align. There’s nothing like the feeling of peace of mind you’ll gain knowing that your vision is supported by the funds that will get you there. We are experts when it comes to budget preparation and we can properly utilise it to help your plans achieve fruition. Check out the quick video we have made below, to get thinking about the importance of budgeting.

Budget Monitoring

Once budgets have been implemented, they need to be monitored and controlled because cash flow management and careful budgeting can be the difference between your businesses success and failure in the future. It is important to know that your targets are being met – so that you know you’re on the right track and can correct course if need be. By tracking how your resources are being allocated, you will be given the opportunity to make advantageous modifications and ensure maximum efficiency is being achieved.  You will also be prepared for any unexpected changes to cash flow in the future, to ensure your long term goals are met. Effective budget monitoring consists of analysing and interpreting financial data to assist in identifying how closely your performance is aligned to budgets over a given period of time. This can be quite a confusing and complex procedure, but fortunately it can be easily handled by your Marsh Tincknell Accountant.

Cash flow Management

Why we developed this service:

Cash Flow planning is best practice in any business and critical to survival and growth. Setting Cash Flow targets and regularly monitoring your actual Cash Flow against your forecast will enable you to predict large cash outflows and respond to changes in your business.

Inadequate Cash Flow is a symptom of management problems in a business, NOT the cause. Helping our clients look ahead with confidence and putting in place basic Cash Flow maximisation strategies is core to our purpose as your accountants.
Who should use this service?

If you require a Cash Flow Forecast because your bank manager has requested one, we can create one for you. However, this service is fundamental as every business owner needs an understanding of cash and liquidity for better decision making. Recognising the difference between profit and cash and the impact improving your Cash Conversion Cycle will have on your business is essential to managing and growing any business.

What is involved?

There are two service options. Both include the completion of a Cash Flow Forecast and the inputting of your Cash Flow Forecast into your accounting or reporting software.

Service one: A Cash Flow Forecast. Preparation of a Cash Flow Forecast and a one hour Cash Flow Forecast Review to discuss and finalise the Forecast.

Service two: Cash Flow Management Coaching. Preparation of a Cash Flow Forecast along with a three hour Cash Flow Management Coaching session to:

• Discuss and finalise the Cash Flow Forecast
• Identify your current Cash Conversion Cycle
• Identify the likely causes of Cash Flow problems within your business
• Set 12 month and 90 day Cash Flow improvement goals and actions

This initial session is followed by four quarterly accountability coaching sessions ensuring you:

• Put in place essential Cash Flow management strategies
• Achieve your Cash Flow improvement goals

When should I have a session?

Businesses should have a Cash Flow Forecast in place before the beginning of the new financial year. Having said that, we can provide this service at any time.

The sooner we complete a Cash Flow Forecast for you, the sooner we can work together to agree strategies for improvement.

Benefits of Cash Flow Management

• Assists with bank lending requirements
• Identify ways to avoid late payment penalties and interest from suppliers
• Improved communication and stronger relationships with your financiers and suppliers
• Gain an understanding of cash and liquidity for better decision making
• Understand the key Cash Flow drivers and the Cash Conversion Cycle in your business
• Ability to predict and plan for large cash outflows
• Learn to monitor your actual Cash Flow against forecast in your accounting or reporting software
• Peace of mind that your Cash Flow needs are known and properly funded
• Improved business processes that maximise Cash Flow, profit and business value
• Drive your business to achieving your goals in a controlled and managed way

Business Planning

Why we developed this service:

Success is about planning; we want to help you achieve success.

• Do you have a current Business Plan?
• Have you set realistic and measurable goals?
• Do you have clear strategies to achieve your goals?
• Do you regularly review your goals in regard to changing circumstances?

A Business Planning session will require you to take time out from day to day activities in the business to focus on the business. Together we will review your past performance and clarify future direction. You will set solid and realistic business goals and define strategies for achievement. At the end of the session you will have a one page Business Plan which will act as a guide map to ensure you are on course for success.

Who should have a Business Planning session?

If you answer yes to any of the following questions, we recommend you undertake Business Planning.
Would you like:
• To increase the level of growth, profitability and Cash Flow in your business?
• Support to unlock your business potential?
• A clear outline of what you need to do to unlock this potential?
• A document against which to measure your progress?

What is involved?

You’ll attend a four hour planning session facilitated by Marsh Tincknell. The key issues covered include:
• Discussing and setting both personal and business goals for the next 12 months
• Discussing and agreeing on an action plan with strategies to support achievement of goals
• Identification of Gross Revenue Targets and Key Performance Indicators
• Identification of opportunities and vulnerabilities in your business that need to be managed
• Establishment of a 90 day Action Plan to address immediate critical issues

We will provide you with pre-work, which you will need to complete prior to the Business Planning session to ensure you identify any issues that need to be discussed. That way we can prepare any information required prior to the session.

When should I have a session?

Any time is a good time to make a Business Plan if you don’t have one, however it is particularly relevant at the start of a new financial year. If you are contemplating a major change in your existing business or entering a new venture, a Business Plan is crucial. You will also be required to have a Business Plan to support any financial applications.

Call us now on 3422 8000 to discuss the preparation of your Business Plan.

Benefits of a Business Planning Session
• Gives you a chance to review and set the direction of the business
• Eliminates procrastination
• Helps you to find common goals amongst a number of Directors (if applicable)
• Identifies and prioritises your key goals
• Creates strategies for you to achieve your goals
• Identifies what you will need to achieve goals. This could be a combination of marketing, training, performance management, increased resourcing and cost cutting
• Sets timeframes for achieving goals and therefore provides accountability
• Provides a tool to communicate your business goals and vision with your Team
• Divides your goals into short term and long term – Quick Wins vs. Key Projects
• Provides you with a template to review actual performance against targets
• Provides you with a platform to develop Financial Forecasts
• It can be used as a basis for you to set team members’ individual goals / targets

Business Structures

In an ever increasing litigious corporate climate, there can be no substitute for proactively attending to the structure of your assets in a legal and commercial manner – and most importantly out of harm’s way.

Whether you are setting up a new business, or on the brink of a significant change or development in your existing venture, choosing the right business structure is vital to maximise tax advantages, minimise exposure and protect your assets and intellectual property.

At Marsh Tincknell, we work closely with you to determine the best legal and commercial structure for your business, considering factors such as:

• Ownership structure
• Industry
• Assets/investments involved
• Flexibility required
• Succession planning
• Exit strategies
• And future growth and employment strategies.

We can also set up processes and systems for financial management for the day to day running of your business.
For many years, Marsh Tincknell has been at the forefront of ‘up to the minute’ strategies for asset protection. Our significant commitment to the development of commercial, legal and effective structuring solutions will ensure that you have the best protection.

We establish the most effective structure for your individual needs, addressing asset protection, but also factoring in tax advantages, flexibility, succession planning, exit strategies and cash flow management.

Asset Protection

Although it can take a lifetime to grow your wealth an asset base, without effective asset protection, it can all be taken away in an instant. Protecting ones assets can be an afterthought to maximising revenues and minimising taxes, but the unpredictable nature of the future substantiates asset protection as a priority.  In an increasingly litigious environment, Asset Protection, is in our opinion one of the most important functions of a financial structure as it ensures that private family wealth is protected from risk (business and other) and litigation. In order to avoid significant losses, it is essential to have reliable and effective asset protection strategies in place, so you are able to continue to grow your wealth and achieve your financial goals regardless of what the future may hold. Marsh Tincknell will be able to implement the most effective asset protection and ultimately give you peace of mind.

Due Diligence

At Marsh Tincknell we understand that investing in a business, by way of acquisition or by becoming a shareholder, is a significant decision that must be approached with caution. There are various important aspects that must be taken into account. The optimal way to reduce any perceived risk associated with investment is to be in a position to make a well-informed decisions regarding your acquisition target, which evaluates all relevant risks and advantages. This is called ‘Due Diligence’ and is an important step in the investment process. While this process is often very time consuming, it can be effectively completed to the highest standard by Marsh Tincknell Accountants.

Risk Management

All organisations face continuous pressures and influences that render the accomplishment of organisational goals and objectives as uncertain. The multitude of risks that exist in today’s volatile business environment establish the concept of risk management to be paramount. Risk Management is the procedure of recognizing, evaluating and prioritising risks internal and external to your business. This is followed by coordinating a revised and economical application of resources to minimise and control the probability and/or effect of risky events. An effective risk management strategy ensures stability in your business which allows you to achieve your goals and protect the value of your business. At Marsh Tincknell we can implement effective risk management and protect you from the unpredictable future.