Support for Success: Know Your Numbers (Business Financials)

In partnership with the NSW Government and as a collaboration partner of the NSW Small Business Month program, the Australian Industry Group will be delivering a series of workshops throughout October 2024. These workshops aim to celebrate and support small businesses by focussing on filling supply shortages, finding new customers and growing their business.

SUPPORT FOR SUCCESS: KNOW YOUR NUMBERS (BUSINESS FINANCIALS)

Are you a business owner (or senior manager) but have never been properly shown how to read your business financials or understand the numbers in your business?

Would you like to learn how to better manage your business and make better decisions based on the numbers?

We always tell people that "numbers are the language of business". And if you really want to elevate the success of your business then you need to learn how to speak this language.

And if doesn't need to be complicated or confusing. It's all about keeping things simple, and this workshop is designed for people who have never had any financial training, and that may even be afraid of looking at their business financials or numbers.

And you are not alone. Numbers can seem confusing and a totally different language to the one that you are used to speaking... the language of customer service, of marketing, of team building. But it's a language that is vital for you to learn to run a successful business, and it's not as difficult as it may seem.

WORKSHOP AGENDA

• Understand how to read your Profit & Loss Statement and how it should be laid out (which even some accountants don't know)
• Have the Balance Sheet explained in simple terms and why it's important to the health of your business
• Learn all about KPI's (Key Performance Indicators) and identify the key numbers for you to track to ramp up the performance of your business
• Get clear on your Break-Even Point and how to use this knowledge to set sales targets for you and your team
• Understand the Levers of Cashflow, how to maximise them and why some businesses run out of cash as they grow
• Learn the Best (and Simplest) Tools to Forecast your Cashflow and make decisions ahead of time
• Complete a practical exercise (yes, you will need your calculator) to properly understand product/service margins and how this affects the profitability of your business

Leave with the confidence and understanding to better manage your business and put in place steps to boost your profits and longer-term growth

Learn the immediate next steps to continue to learn and stay focused as you implement these improvements in your business

PRESENTER

Anil Puri - The Profit Coach

Anil's whole career has been focused on helping business owners and managers to better understand how to grow and develop their businesses. As a trained accountant with a Master of Management degree, Anil has held financial management and commercial management roles in large and small businesses both here and overseas. He has a wealth of experience across a wide range of industries and has been running his own business coaching and consulting firm since 2005.

Driven by Ai Group’s 151 years of experience in understanding what makes Australian businesses successful, the Business and Improvement Growth (BIG) Hub is designed to provide businesses with a range of practical business assistance, resources and an extensive network of business consultants to help identify and solve short-term problems.

For more information, please visit: Ai Group BIG Hub