How to build your business as a WEALTH ENGINE
Do you think of your business as a financial investment? Do you make time to review your strategic progress? Do you have clear measures by which to measure your strategic progress? Are you clear about the short-term, medium-term, and long-term objectives of your strategic plan? Do you see your strategic plan as a series of strategic projects, or do you see it in terms of the overall growth and wealth creation objectives? Ultimately, your business is a financial investment, and the objective of financial investments is to achieve a financial return. Taking an investment management approach to your business means [...]
Have you got your business WEALTH ENGINE turned on?
Investing in a business is a risky venture. It can take many personal sacrifices to build a business and achieve success. These efforts are generally accepted and profits expected but few people appreciate the ownership of their business itself as a 'wealth engine'. Learn more about this concept to empower your business decision-making and maximise the value you're gaining from your business. Business as a wealth engine is a simple concept. You have invested capital in your business (equity or net assets). You get a return on your investment from the business’ profits. This is represented by your NPAT (net [...]
How expert financial reporting helped Detector Inspector grow quickly from micro to major-sized business
Often the most successful business ideas are founded on the simple premise of identifying a need or gap in the market and developing a service offering that fills it. Detector Inspector have done just that and grown into a multi-million dollar business within about ten years. Rapid growth can be challenging for business owners and in 2014 directors Jordan Kagan Gescheit and Jason Radolnik engaged the services of Colin Wright as their freelance CFO (“ceefo”) to help guide them through this time of great challenge and opportunity. This is their story. Tell us a little about yourselves and your [...]
The 3 BIGGEST REASONS why your monthly reports are MISLEADING you!
Ceefo has worked with numerous small and medium sized businesses over many years. Without exception the first few months tend to always the same. When we review their financial reports at the end of each month, it’s very common to find that their financial results are inconsistent. So we ask a range of questions about how their business is handling a number of basic accounting requirements. In most cases, we find that the inconsistent results are an outcome caused by incorrect accounting treatments. How big an issue is this? It is a huge issue. All too often we hear [...]