“If you don’t know your numbers you don’t know your business, it’s that simple.” – Marcus Lemonis, The Profit
Creating a financial plan is always missed by most biz owners.
Often, a number is set which is the overall budget BUT the allocation of which is not planned strategically.
Worse is this number is forgotten after some time.
Who are you among the following profiles?
a. I don’t have any amount set as my budget. I just went straight in.
b. I set an amount at the start of my business. Oh wow! That course looks fantastic. That membership program seems to fit my requirements. Oh wait! I don’t have money set aside for it.
c. I set a budget every start of the year. Do I need to review it? I know how much I earn every month.
d. I have my budgeted amount according to expense and I have my target income. Reviewing and adjusting is done regularly, like monthly.
If you answered a, b, or c, you are not driving your business to success and not maximising its potential.
To simply describe, a financial plan translates your strategies into numbers.
This is your initial gauge if your new services or products can bring higher profit to your business. Before even executing them.
True. You can make high-level assessment like get the number of potential subscribers to a course multiplied with the course pricing.
But have you accounted for expenses? Direct and indirect expenses?
Lack of financial plan often leads to closure of business due to uncontrolled spendings and unaccounted income sources.
How can I help you?
I review your process, create and organise a functional and efficient system.
Translate your biz strategies into a financial plan that ties up everything you do.
Review your monthly financial plan to avoid surprises and maximise what is working well for your business.
Find out what’s generating the most income.
What I do
- Budget, Forecast, Actuals
- KPIs / business metrics
- Business set up – COA, accounting software
- Variance analysis + action planning
- Monthly review of finances
Systems Review + Set up
- Review existing processes and guidelines
- Create workflows (up to 3 workflows)
- Organise system
- Link social media analytics to income plan
- Documentation of business processes and guidelines
One time set up
4 hours which can be consumed for one month only for
8 total hours which can be consumed up to 3 months for $1,100
15 total hours which can be consumed up to 5 months for $2,100
*Growing and Fabulous packages will be invoiced every 1st of the month. Data recording or journal entries posting is not included in the pricing but can be included at a minimal cost.
How does it work?
This is an overview of the process.
1. Assessment call. We will hop on a 40-minute call to discuss and assess existing financial structure and situation and review existing system. Through this call, we will identify what financial items will be included and KPIs to measure and what workflows and documentations we need to create.
2. Client workflow + monitoring. I will create your client workflow in Asana or Trello detailing every item and tasks so we can track progress of every task + time spent and remaining hours. The items are based on our discussion and assessment.
Workflows agreed will be created in Asana or Trello. Limited to 3 workflows only. Additional workflows can be added at a minimal cost.
3. File storage and coordination. I will create a client folder in Google drive where we will save all needed spreadsheets and files. All files are required to be encrypted or password-protected.
4. Strategy Call. 30-minute call will be set to present the financial plan and action items to be implemented. Who will execute is dependent on the action required.
5. Review / Final Call. 30-minute call will be set at the first week of the following month, after all accounts and transactions have been recorded and reports have been prepared, to review financial plan. Accounts must be submitted latest 2 days after month-end close or 2 days after the last day of the month.