Businesswise – what darkest nightmares keep you awake at night?

The struggle when you start losing control, hope that the money in your account will cover the bills and that the project “will be completed eventually”. When it is a success, you forget the struggle, but if it is not, you look for whom to blame. The truth is that the more you are in control, the more chances you can take action on time to avoid a disaster.

The numbers don’t lie, and if they are far from the truth, they mislead you into taking wrong decisions. The steps can help to eliminate unnecessary costs and improve cash flow in your business in the long term:

• Sort the finances – when we define the processes for any activity – we can eliminate what we find as waste. If you struggle to manage your finances – prepare the process map of how things are done:

1. 1. Who manages the purchase orders?
   2. How and when are the invoices being issued?
   3. Do you allocate costs to every project?
   4. Do you control your costs in real time?
   5. Do you know if you make a profit on your project?

Answering these questions will help you discover why there is a lack of control over projects and cash flow.

• Outsource work that is not your core expertise – Engage with the experts to set things up correctly to save money and headaches! It is not an extra cost but a value to your business, which can bring higher returns in the long term.

• Make incremental changes - Acknowledge your current situation and gradually improve by setting achievable targets and SMART goals. Focusing on one problem at a time, the root of your struggle will help solve other issues.

We have years of experience in streamlining finance processes in the construction sector. If you need help to improve your cash flow and control over projects and cash flow - you are in the right place. Contact us today.

Katarzyna Machalinski ACMA