Functional Business Solutions
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Functional Business Solutions provides a range of practical solutions to businesses looking for dedicated, professional services without the expense of employing someone in-house. Our team of qualified specialists offer reliable, affordable solutions and advice specifically designed to meet your business’s needs. Our services are:
* reliable and affordable
* provided by specialists
* offere
The financial implications of your goals and strategies will be reflected in the financial forecasts in your business plan. Your goals will identify the areas of improvement, like an increase in sales or a reduction in costs, and your strategy will identify any additional expenditure needed to achieve these goals.
Most business plans will include a 12-month cash flow forecast, a profit and loss forecast, and a two- or three-year projection.
Your cash flow forecasts will identify whether you have sufficient financial resources to implement your plans immediately, or whether you will need to explore other financing options. Monitoring your actual spend against your projections is a way to ensure that new project costs do not escalate much beyond planned expenditure.
28/03/2022
Robbo is an electrician (yes we changed his name).
During business hours, Robbo would be busy getting contacted by potential clients for quotes and complete jobs on his very busy schedule. It wasn’t until he finally got home at night, he would then have to sit down at a computer and do all the quoting and invoicing.
Robbo was spending so much of his personal time playing catch-up. So we helped his business implement Quickbooks on a tablet.
This allowed him to take notes while chatting to potential clients and send a quote straight away, locking people in sooner.
It also allowed him to invoice instantly at the end of a job and store photos so he could look back and see exactly what was done.
This simple online system made life so much easier for Robbo’s business and gave him back important time in the week.
24/03/2022
Setting goals might sound scary but your business will not operate as efficiently and effectively without defined goals. They’re also a great reminder in tough times what you’re here for.
In your business plan, consider goals for some or all of the following topics:
Financial objectives – for example, to increase turnover or reduce operating costs by 5% this year.
Strategic objectives – for example, to increase the number of corporate clients by 20% within two years.
Operational objectives – for example, to increase output by 10% within six months.
Marketing objectives – for example, to increase total sales to existing customers by 10% next year.
Social/Environmental objectives – for example, to decrease your carbon footprint by 5% each year for three years.
Don’t forget to make them SMART and put To-Dos for your top priorities.
08/03/2022
Your business plan is a living document that grows and changes over the lifespan of your business.
Reviewing your progress against your business plan, on an annual basis, is a good way to measure actual performance, and will form the basis for revising and updating your plans.
When was the last time you reviewed your business plan?
Check out our Business Planning article: https://functionalbusiness.com.au/resources/the-importance-of-business-planning/
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28 Leigh Street
Adelaide, SA
5000
