I am still at it!

Unbelievably it was four years ago, September 2013, when I returned from the Entrepreneurs Convention in Birmingham buzzing with ideas.

Helen Lacey, Red Berry Recruitment, and I had a very bouyant discussion on the way home in the car, and I was all inspired to give producing a newsletter for my clients and contacts a try.

48 editions later and, hopefully, I am still producing something worth reading!

So you may well ask “Why?”.

There are various reasons why I find writing this newsletter a great discipline to do each month.

Firstly, despite the joke about creative accountants, I do not have much opportunity to be creative in the day job. Producing a monthly newsletter helps me to feel I am a bit more creative than I would otherwise be.

Secondly, being forced to come up with new material each month flexs my ‘writing muscle’. This has been particularly helpful when I have wanted to write new published material – whether it is the free guides on my website or the three books I now have for sale on Amazon.

Getting started is always the most difficult part of any project so having to ‘get started’ each month on my newsletter is certainly a help.

I have lots of people I would like to keep in touch with and sending the newsletter to these people is one of the tools that allows me to do that.

Finally, I love having the opportunity to feature businesses I have come across, and want to promote, and people I would like to thank publicly.

I have been asked on several occasions why I print the newsletter and send it via snail mail, rather than emailing it.

Nigel Botterill at the Convention pointed out that if you do what everyone else is doing, you will be lost in the noise. I get lots of emailed newsletters and never have time to read them all, so I don’t read any. But I get hardly any mail.

Hopefully you like receiving this newsletter in the post and are more likely to read it because you do.

Fiona 🙂

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Is it just the weather we should be forecasting?

Forecasting

If you mention forecasting in mixed company you can see a small shudder run around the room.

Many business owners don’t know how much money is in their bank account on a day to day basis and look at their accounts only once a year, so the idea of forecasting for the future leaves them cold.

However, in not doing cash flow forecasting (at the very least) these business owners are putting their businesses at real risk. Banks are reluctant to lend money unless businesses can show they have a solid financial base and businesses that don’t control their cash flow can find themselves really struggling – even if they are profitable.

Forecasting forward can help ensure you don’t suddenly run out of money. If things are going badly you at least have forewarning of when you MUST get some money in and have time to do something about it. You can then use your forecast to help the bank – or any other parties you are hoping to secure funding from – understand your business and who investing in your business is a good bet for them.

I have written a free guide to help you with forecasting for your business which you can download from my website http://www.fionabevanfinancialmanagement.co.uk/guides.php

Fiona:)

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Just do it!

Last month I wrote about the conference I had recently spoken at and how great that was.

Well, since then I have had a variety of ‘wins’ I would like to share with you because they came about because I was able to just take ideas and run with them – surely one of the biggest advantages of running my own business.

Firstly, my second book that had been launched at conference started to sell. I had written it primarily to accompany my conference talk so I had 10 copies printed to sell there – without much expectation that any one would want one! I sold those copies quickly so I decided to promote the book’s availability on Amazon.

Since then I have steadily sold further copies and now there are 60 out there in the big wide world and apparently being read – a real success from my point of view given the very specialist nature of the subject matter.

So it got me thinking was there a lack of training out there – a gap I could fill?

Several of my contacts agreed with me and so I set about creating and then publicising a pilot workshop to be held in Bristol at the end of September.

I have had such a great response that I am not only running one workshop but two and I have a list of people who want to be kept informed of workshops I might be running in other parts of the UK.

Then, out of the blue I was contacted by company I had never heard of before that wanted to be involved in sponsoring the workshops. It turns out they work closely with a good contact of mine, which is how they came to hear about what I was doing.

It’s all been very exciting.

Finally, I have been so motivated by these successes that I became inspired into writing my third book. I woke up at 5.30 one morning with lots of ideas buzzing in my head. So I got up and just started writing!

I have not accomplished so many things, which would normally be right outside my comfort zone, so quickly, at any time in my career so far! I feel completely energised.

It just goes to show what can be accomplished if you just crack on!

Fiona:)

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Price effectively

Pricing Pricing is a big problem for most businesses.

In simple terms if you charge too much you may struggle to get customers. Charge too little and you won’t make enough money.

But pricing can reveal more about your company than you may think.

If you regularly price at a lower level than people would expect to pay for your product/service, prospective clients may assume that your work is of a low quality. So bizarrely you may find you don’t get approached by your ‘perfect’ client because they think you are not up to the job.

On the other hand you can be ‘reassuringly expensive’ and draw people to you.

For help with getting your pricing right you may like to download the free pricing guide on my website http://www.fionabevanfinancialmanagement.co.uk/guides.php

Fiona 🙂

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It’s good to talk

The end of June saw the annual CIMA Member in Practice Conference. You may not have any idea what that is but suffice to say it involves lots of accountants getting together for a two day shindig.

Your next thought may well be “Nightmare!”

But I am here to tell you we have the BEST fun and our speakers give us terrific feedback about how they find us as an audience!

For me it is a great opportunity to spend two days just thinking about my own business and not those of my clients. I come away with a shed load of new ideas and more new friends and contacts than I can shake a stick at.

In the past I have presented in break out rooms to a smaller subset of the total audience. This has meant a workshop style of presentation is possible – and fairly low stress if you prepare well.

This conference though I was down to do a main stage slot, for an hour, to pretty much everyone! I even had a couple of the key note speakers (proper professionals on the speaker circuit) sitting in. So no pressure!

Talking on the main stage is a completely different ball game than presenting a workshop and requires a different way of preparing.

For one thing it is less interactive meaning you are less guided by audience questions and have to be more prepared to take the gamble that you are covering all the information the audience may want or need.

You also need to put more effort into producing slides (I don’t usually do slides as death by powerpoint is the death of many presentations) which were engaging.

Thankfully everything went off well and I had some great feedback from MiPs afterwards – I even sold some copies of a book I had written on the theme of my talk.

It was a great experience and one I would be glad to do again – getting out of your comfort zone is generally a good thing. If you can, give it a try!

Fiona 🙂

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Row, Row, Row your boat

Over last month my son Simon was involved in the bumps rowing (Summer Eights) for his college Oriel at Oxford.

Rowing is one of those sports which involves a group of individuals pulling together to achieve a common result. Unlike traditional team sports like rugby or football there is little interaction between the individual rowers during the race – but they are a team none the less.

For many business owners who work on their own having a team of others around them who can ‘join their boat’ at key points, can be a great way to move their businesses forward.

Last month I had a great example of this.

I meet people through networking I think may well be able to help clients and contacts of mine in various ways. However, it can be difficult to guage how these people work and what it feels like to use their services.

Rachael Wheatley, of Bluegreen Learning, was one such individual. We had met at Curious Conversations and the Bristol Circle events and got on well from the start.

But how to know assess Rachael’s approach to marketing strategy? And how to facilitate her understanding of how I help business owners to master their finances?

It struck me that the easiest way for each of us to do some relevant work the other.

I needed a fresh look at how I found new clients and engaged with them, and Rachael and her husband Rob needed to do some 3 year business planning work – for which they needed some robust figures.

By the end of the two half day sessions (one concentrated on my busines and one concentrated on hers) we had achieved what we needed for our businesses – and as a bonus we both had a clear idea of how the other worked.

I found the whole exercise enlightening and would now have no hesitation in recommending Rachael. Hopefully Rachael feels the same way!

Fiona 🙂

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All hands on deck

Having had an extension built to our house last year the next task on our list this year is to sort out the garden – and a key part of that task is to build some decking.

So we started off by drawing up a plan asking ourselves some key questions:
1. What is our budget?
2. What should the deck look like?
3. Who should build the deck?
4. Where should we get the decking and other materials from?
5. When do we want the deck built?

As you will know from previous articles I am a great believer in getting a professional to do a professional job. However, my husband Jeff is pretty handy at woodwork so we decided we would do the work ourselves – thus handily reducing the budget needed – and I would be his labourer!

A couple of Saturdays ago was D day!

We had to make sure we had all the tools and materials we needed before the weekend as the time we had available to complete the job was limited.

Google was a great help in providing tips and hints on how best to build a deck and what quantities of wood etc. we would need to build the size of deck we aspired to.

We did our homework and investigated several suppliers of decking to find the best quality materials for the lowest possible price.
Luckily, we were able to use a local supplier of decking, posts and screws who delivered everything in good time and for free!

The only new tool we needed – a fence post borer – along with the brackets and post crete, we also sourced ahead of time.

This gave us a clear two days to get the job done. Day one was taken up with sinking the 15 posts needed to build the frame on, and building the frame. Day two was attaching the decking.

The result? A great looking addition to our garden, which came in on budget, and was completed in the timescale we had given ourselves. This would not have been the case had we not done the legwork at the outset and planned everything effectively.

The lesson from all of this? If you have a project, whether business or personal, plan for success and you are much more likely to get the results you need.

Fiona 🙂

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Master your Business Finances

If you are interested in mastering your business finances perhaps you would like to download the interview I did with Alan Philpott of Glastonbury FM.

Posted in Small Business Confidence, Small Business Effectiveness, Small Business Entrepreneur, Small Business Finance, Small Business Owner, Small Business Strategy, Uncategorized | Leave a comment

Business Planning is Great – Part 3

And finally here is Part 3 of the Glastonbury FM Business Planning radio show.

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Business Planning is Great – Part 2

Following on from my blog last week here is the second part of my Business Planning radio appearance on Glastonbury FM for you to download.

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