- Self Check Questions -
Management Systems and Business Management Practices
Curious about the business health of your current management systems and business management practices?
An answer “No” to any of the following questions highlights specific areas of the management systems that may require attention.
Three or more “No” responses may indicate that business management practices may need significant overhaul.
In Your Business:
- Is there a documented interactive business plan and is it regularly amended and referred to by management?
- Are regular reviews undertaken to analyse major cost elements and the relationship to revenue/operational activity?
- Are profit and loss projections and cash flow forecasts prepared, against which actual performance is monitored?
- Is the business monitoring and actively managing aged debtors and creditors?
- Is the management team meeting regularly to review operational issues?
- Is the business breakeven point known?
- Is cashflow managed actively and does management have the necessary tools to manage cash flow in times of tight credit?
- Does management set aside time from the operational side of the business to understand the financial position and what the key financial drivers are? (for example, stock levels, gross profit margin, debtors and creditors)
- Does management consider the impact of accidents or disability of key personnel on the business?
Book now for a FREE consultation! Phone (07) 3886 4148 or contact us online.
- Self Check Questions -
Cash Flow and Business Stress
Wondering if your cash flow position is showing signs of stress?
An answer of “Yes” to any of the following questions may highlight cash flow management issues.
Five or more “Yes” responses may indicate that the business may be showing signs of stress, and it is essential that controls be put in place now.
On your business:
- Is the business paying one supplier in priority to another?
- Is the business increasingly paying cash on delivery or seeking new suppliers to secure materials and/or stock?
- Is the business running down stock levels below efficient operating levels?
- Is the business experiencing a high level of debt?
- Is the business’ overdraft increasing and/or are borrowings increasing to service cash flow requirements?
- Are projects being priced to win the job rather than pricing for margin?
- Are sales static or declining, yet stock levels rising?
- Are your relationships weak with key suppliers and/or key customers?
- Are any applications for finance or funding being rejected?
- Is there high staff turnover or is the turnover rate increasing?
- Are Superannuation, GST, PAYG and other statutory payments falling behind?
- Is the aging of the business debtors increasing or have bad debts increased?
Book now for a FREE consultation! Phone (07) 3886 4148 or contact us online.
This document is intended to provide general information only and should not be relied upon in substitution for professional legal and financial advice.
While due care has been taken in preparing this document, no warranty as to the accuracy of the information contained within this document is given.
No liability is accepted by any member of the Shoreline Business Group Pty Ltd for any error or omission, or any loss caused to any person relying on the information contained in this document, except where such liability cannot be excluded.