Mistakes help us learn and improve our businesses. While it is impossible for us to never make a mistake, you can limit the errors made by learning from others. Accounting mistakes from large businesses are often highly publicised and so much can be learnt from their experiences. So what are the three biggest accounting mistakes […]Continue reading
Category Archives: Tectona Ten – Reporting
Reporting in your business can help you build a strong business. Can you advance your business skills with these reporting articles.
48. Watch out for those start-up bear traps
I can safely say that a couple of my clients think I’m a pretty good guy; and for an accountant, that can be a slightly unusual place to be! The reason is embarrassingly simple. They are both CEOs of young businesses that have been going full steam for a year or so with the business […]Continue reading
42. A dashboard – as important to your business as to Lewis Hamilton
“The journey of a thousand miles begins with a single step.” However, if you don’t know your starting position, the journey may be considerably longer. For a business, this means knowing your most vital operating information. As your time is limited and information is not free, you need to identify the minimum facts about your […]Continue reading
28. So, you are thinking of starting a new business!
guest blog by Peter Rogol of Goodman Jones LLP. You have an idea that might work. The more you think about it, the better it seems. You’re convinced – people will love it! It’ll sell itself, it’s going to break the mould, it’s hotter than hot cakes, you’re more Zuckerberg than Zuckerberg himself. You talk […]Continue reading
25. Managing growth as we come out of recession
The United Kingdom has suffered 13 recessions since 1812. The Global Financial Crisis of the late 2000s saw the UK suffer its worst recession since the war. Revised GDP data published in December 2013 shows that the ‘double dip’ recession took place between Q4 2011 and Q2 2012. The catalyst for which was the European […]Continue reading
9. The importance of planning and forecasting
You wouldn’t embark on a journey without first planning your destination and how to get there, and the same principles apply in business – as the old cliché goes ‘If you fail to plan, plan to fail’. Planning makes perfect It doesn’t matter how large or small your company is No matter the size of […]Continue reading
7. 16th century philosophy, 21st century business. Using KPIs to improve business performance
The 16th century English philosopher, Francis Bacon, coined the phrase ‘Knowledge is Power’. Whilst some may consider it a cliché, the statement is just as true in 21st century business as it was during the English Renaissance. Without knowing what is happening within a business and knowing how to improve, leverage opportunities and grow, a […]Continue reading
6. Top tips for effective cash flow management in owner-managed businesses
Effective cash flow management can make it easier for SMEs to attract debt finance The latest Bank of England ‘Trends in Lending’ reports a decline in lending to UK businesses in the three months to May 2013; a contraction of around £4.5bn. Despite many lenders continuing to argue that demand for borrowing is somewhat muted, […]Continue reading
5. Is selling more, the best way to generate more cash?
Is “Sell More, Earn More” a false economy? When you interact with SME business owners on a regular basis it’s inevitable that many of your conversations will focus on the performance of the business; and if you are engaging with ambitious business owners, you are likely to have heard the following assertion… …“If only we […]Continue reading