What happened to me?. How I could let the company is in this situation?. Who he failed?.
How to govern a company and its financial structure are closely linked: owners decide how much to invest and how much they will invest external.
Manage the economy and finances of the company can be somewhat complex for the entrepreneur, either micropymes, the autonomous startups. The property is proposed and decide their degree of financial leverage: how much money we put ourselves and as external, being aware that want to influence decision-making..
The daily life of a business is never the same; are constant changes, decisions to make and responsibilities to take. Nevertheless, questions as I indicated below could have an effective response if your company is prepared:
What functions I leave in the Council, the family office, the steering committee,..?
¿Projects financed with own money or I borrow?. Under that scheme financial?
Is it feasible to expand my activity or incorporate new business lines?. ¿I will die for lack of success of the current funding?
Will I be able to attend my own stand at the most important fair of the sector?. Will I be able to supply all orders get?
What product or service is more profitable? You could improve gross margin?. What lines or products must leave and why?.
How would economically and would cause a campaign of marketing at present?
On what product or service I have to make more sales efforts?. What price should I apply for positioning in the market segment expected?.
In day to day, You improve your company's finances would be based on numbers: KPI ( Key Performance Indicators)
The basis for optimizing finances and prosper is to obtain real data, reliable and accessible at the right time for the right decisions regarding the future of the business.
Then, let five recommendations you sure will be useful to improve your company's finances:
1) Organize themselves economically and financially.
It is collecting and structuring those key financial data:
accounting information, tax and labor extracted from your gestoría
contracts with financial institutions, supply (light, phone / internet ...),insurance, rental, and extracts bank, documents and other income and expenses that the characteristics of the business necessary.
This step is one of the most important. If we start from these data, we will have a clearer vision of what we stand. That will allow you to make an action plan to improve the finances of our company.
2) Perform financial analysis of the actual situation of the company.
A financial information orderly, useful and easy to interpret reduces uncertainty in the economic field when making decisions.
Two key tools to assess the viability of the business, creditworthiness, profitability and liquidity are the state annual budget, which it is a look into the future aligned with our strategic objectives
and the Economic and Financial Report, where periodically it summarized what the real and current economic situation of the company.
3) Surround yourself with experts in business management control. It is the figure we call Controller. On staff or external.
Controller delegate the tasks of financial analysis, planning and control of finances eases administrative workload.
The figure of the Controller helps us understand the numbers of the company and clarify ideas. It anticipates the possible economic deviations and establish corrective measures if necessary in order to achieve business success.
4) The fourth point is based on scheduling a number of hours a week solely to assess the economic and financial management of the company.
They must be used, as a minimum, a couple of hours a week to perform the tasks of the CFO. This will make management and finance is optimized in a short period of time.
However, when the situation of the company does not possible, It is advisable to seek external partners to advise and assist the employer to control your business.
5) Implement working methods
When a company has expectations of evolution must do so in an orderly and effective.
Part of the change, sometimes, It is to modify the internal working methods. You have to set priorities, define procedures to help reduce the risks in each project, streamline and strengthen the structure of the company.
Today, We have at our disposal a lot of free or affordable software plans that we can use in our routine. The key lies in betting on those that provide the best performance for the company.