Time management is something many people struggle with.
Part of the problem I think is with this concept of ‘time management’. We actually cannot manage time at all – it carries on regardless of anything we mere mortals do. We cannot ‘create’ time or make it stand still whilst we catch our breath. All we can do is allocate the tasks we have to the time available.
There are as many different techniques for doing this as there are exponents of ‘time management’ and some will work for some people and some will work for others. Some people just can’t get themselves organised no matter how many techniques they try.
Much of effectively allocating tasks to time is about your frame of mind. If, in fact, subconsciously you quite like being disorganised and see it as part of your personality, no time management technique in the world is going to be effective. For ‘time management’ to be effective you have to really want to be organised.
If you do want to be effective in your working environment the key is to try different methods and see which one works for you.
For a guide to different ‘time management’ you can download a free guide from my website http://www.fionabevanfinancialmanagement.co.uk/guides.php
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.
Until 2008, when overdrafts were pretty easy to come by, you could get away with not managing your money quite so well. But now the banks are reluctant to lend money, businesses that don’t ensure they 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
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