MBP Financial Awareness Coaching

The better you understand your business, the easier it is to make more money. Management decisions rely on a sound understanding of the financial implications for a business. We have developed this service to enable business owners to fully understand and interpret their numbers. Consequently allowing you to developing a strong foundation on which to grow your business.

If you are passionate about your business and want to better understand your numbers and answer questions like:

• How much profit have i made this year?
• Why has my profit increased but I have no cash?
• Is my cash level increasing or decreasing?
• What is affecting my cash level?

If you want to answer any of these questions, or any others, then our financial awareness coaching is for you.

You will attend meeting with us every two months (either in person or by video conference) to discuss your financial performance. The focus of each meeting will change and progress depending on your needs and objectives. You will:

• Develop an understanding of your key financial reports,
• Gain knowledge of key accounting concepts,
• Learn how to report on your cashflow and profit,
• Begin to produce your own customised performance reports on a monthly basis,
• Understand how to better manage your debtors and creditors,
• Learn how to monitor your income and expenses throughout the year,
• Find ways to save time on admin tasks that could be automated or outsourced,
• Identify weaknesses/ areas to work on between meetings to get better results,
• Iron out any existing errors (formats, coding, analysis, timing differences),
• Understand what other information you should capture monthly and how (e.g. stock, debtors, creditors).

The meetings are designed to develop your ongoing ability to manage and monitor these key areas of your business. As such, we will develop each meeting to meet your unique needs. Consequently, by the end of the program you will be able to confidently monitor your financial performance with minimal outside support.

Any time is a great time to start understanding your financial reports in order to improve your business performance.

The sooner that you start Financial Awareness Coaching the better. This ensures that you start to develop the skills and understanding needed to better understand your financial results. The sooner you understand your financial results, the sooner you will understand the implications of those results.

As soon as you understand the implications you can begin to take actions to control future outcomes.

Coaching sessions take place two-monthly. For most businesses this is the same interval for your GST filing. We therefore recommend that you start your coaching within two weeks of the end of your next GST filing period. This will ensure the most up to date and accurate information is available. The GST Audit Report is also a great tool to allow us to pinpoint ny existing errors in coding or reconciliation and get those fixed in advance of the next filing.

Undergoing Financial Awareness Coaching with your MBP Business Advisor will…

• Enable you to better understand our business,
• Ensure accuracy in your financial reports by ironing out any existing errors,
• Allow you to better manage and monitor your cashflow,
• Develop customised reports to ensure you capture the right information,
• Format your reports in a way that makes decision making easier,
• Allow you to gain better understanding of the financial implications of decisions,
• Empower you to make better informed decisions,
• Provide you with regular independent financial understanding and support,
• Regularly review your reports and record actions to be achieved before the next meeting,
• Hold you accountable to achieving progress between meetings,
• Identify burning issues that have critical impact and therefore need to be addressed,
• Allow you to access the collective wisdom and experience of our accountants, systems, products and services,
• Offer you unlimited phone and email support to address any issues between meetings.