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No one likes dealing with finances. It’s confusing, it has hard truths, and it’s not a fun conversation. It is, however, one of the most important areas of your business, and my three stage process can help bring you peace of mind and clarity. Without having an understanding of what your financials are saying, how can you know how well (or bad) your company is doing? How can you figure out what needs improving, or how to measure progress?

There are three stages to effectively implementing and incorporating a finance process into your business.


 
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STAGE 1:

As with most things, you need to walk before you can run, and finances are no exception. Understand how to read the financials, know what they say, and be familiar with how they all connect.

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STAGE 2:

Take what you’ve learnt and apply to your company. You can read the same information over and over, but you’ll only get the value behind it once you fully utilize in your business itself.

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STAGE 3:

Managing your finances isn’t a one-time thing. It requires regular and continuous review to analyse progress and help make business decisions at any stage of your business.