Most companies waste at least 5% of their money on inefficient spending on their overhead costs.
As a business coach, helping your business owner to identify and focus their efforts when looking to save money on their cost base, will build trust and longevity. Moreover you will demonstrate your wider value as a coach with financial acumen and commercial sense.
This course, has been writtten specifically for Business Coaches and Consultants, who feel their lack of financial knowledge is holding them back. I show you how to practically pull out the costs that are most susceptible to overspending. Using some financial tools and techniques, I show you how to tell if these costs are being well managed and controlled.
I will also show you some financial metrics and measures commonly used by finance experts in industry which help you to make good decisions around whether to invest in particular areas of spend, especially your decisions around resource spend.
This course includes plenty of examples of where and how to find savings in your clients business. These are based on actual savings I have achieved through my work with small business owners.
This is a concise, 60 minute basic level course for business coaches. Aimed at those coaches working with small business owners with a turnover of less than £1m.
If you find financial information confusing, this will help you focus on a few vital areas which could release much needed cash back into the business.
This is a must for all small business coaches who want to help to grow small businesses and ensure their service increases as part of that growth.
Understand the growth cycle of the small business and 2 key mistakes to avoid
The two best places to find data on business overhead spend.
This gives you a good idea why this is the best area of costs to focus on. It is lower risk and more amenable to rationalisation and cost effficiency iniatives.
In order to save time , it is improtant to ensure you prioritse any cost improvement iniatives. This explains some techniques to help you do this.
The importance of identifying how these costs change and what determines the level of actual cost.
The need to understand what is driving the decision to spend.
Using materiality in your analysis
You need to look at the original scope and review it in light of where the business is today. This describes how to consider what options you have.
This lectures explains how outsourcing is beneficial to small businesses and some likely areas you can apply this to.
Renegotiation based on where you are today.
Looking at ideas to get more out of what you are already paying for.
Some pointers on how to rationalise and reduce spend on support resources in the business.
The importance of budgets and measuring ongoing.
The importance of getting quotations before you actually spend.
How to use PO to control spending in your business
How Authorisaqtion limits can save your business owner time, aswell as ensure there is still control over spending.
How to now practically apply your learning to your small business clients.A 6 step process to follow if you want to help your business owner to save money by rationalisation of his overheads.
A PDF to print off and review which summarises all the key learning points from this course.
Some frequently asked questions.
The complete audio version of this course incase you prefer to lister to this on the go.
I spent over 25 years working in industry with large corporations,Working for such large successful companies as Astrazeneca, Balfour Beatty and Unite Group I learnt and was trained in commercial finance aimed to support and grow the business internally.
I now work exclusively with small ambitious business owners, I run my own niche financial consultanty business called Better Numbers Ltd.
I specialise in cash flow management, financial measures and providing day to day and strategic advice on the financial impact of decision making in small businesses.
My lean 6 sigma green belt qualification and experience, coupled with being a qualified management accountant, has allowed me to gain valuable insight into the commercial and financial limitation a small business faces. I particularly love to see how quickly small but targeted improvements can really accelerate the growth of a business.
I work one to one with businesses turning over £1m+ but realised my knowledge and expertise could be effectively accessed through the use of online courses to help those smaller businesses
I am also a property developer and investor and blog frequently on my financial insights for a broad range of different industries. I pride myself as being an accountant with commercial and common sense!
I live and work in Bristol UK with my Partner, son and dog and I was born in Bath UK.