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5 Tips For Making Sound Financial Projections
5 Tips For Making Sound Financial Projections.
Optimism is a healthy trait for entrepreneurs, who often need to stick it out through lean times before they build a successful business. When it comes to making financial projections, however, a healthy dose of pessimism comes in handy. Overly rosy income predictions could lead you to make decisions that jeopardize your business.
Whether you’re projecting the year to come or looking several years down the road, solid, reality-based financial projections provide a crucial road map for small business growth. Here are some tips to help you assess your success and make smart business decisions.
voice on the coast
Attracting, Retaining and Engaging the younger generation on the Sunshine Coast
“We envision a future for the Sunshine Coast that includes a thriving, diverse population of young adults and families as part of the make-up of our community. We aim to adjust the predominant image of the Coast from being primarily a retirement community, to a place for all generations to enjoy.”
via voice on the coast.
Ten Memorable Quotes from 2014
Ten Memorable Quotes from 2014.
Here are ten quotes from posts that appeared on Late Blooming Entrepreneurs throughout the year. I hope you enjoy these sayings – and perhaps find some inspiration, wisdom or food for thought as you set goals for 2015.
Burnout – the Balancing Act Between Success and Quality of Life!
We all suffer from burnout at some point in our lives, in our work, in our family life, or both. How do you know if you are just tired, bored, or really burnt out? There are some signs that can tell you when you’ve hit that tipping point or beyond:
- You work longer than you should. 8-hour days turn into 9 or 10 hours, 5 days turns to 6
- You are unusually irritable. Your fuse is shorter than it used to be and you snap at little things
- Denial and avoidance. “I’m not burnt out, just sleep-deprived.” “This workload will ease up soon and then I’ll be fine.”
- Procrastination. You put off tasks that need doing today because you think you’ll have more time to do it tomorrow or you just can’t deal with it today.
Whether you have a business to run, a demanding job, or an incredibly busy family life, or all of the above, eventually, if you don’t take of yourself you are going to suffer from some level of burnout.
That’s where self-care comes in. You know how they say that to secure your financial future you should pay yourself first by taking 10% of your paycheque and put it in a savings bank? And just for your interest, women should put away 12% because they live longer and are usually paid less – but that’s another topic!
Well you should do the same to look after yourself physically, emotionally, and mentally. What is something you can do for your self-care to prevent or counter-act burnout? For me it was taking an hour first thing in the morning to do whatever I wanted; take the dog for a walk, read a few chapters of a good book, even cook my dinner for that night so I didn’t have to when I came home. I’m a morning person so that worked for me. I started the day doing something for me. And that made me feel that I had invested something good in myself before I handed myself over to the demands of others for the rest of the day.
Being SELFISH rather than SELFLESS is a good thing! We are so programmed to give, give, give to others that we forget that we deserve some of our own hard work and devotion. Differentiate between “Shoulds” and “Wants” during your selfish hour of the day. Do what you desire. Fulfill your need to be free to make choices and do things unfettered by others. Put some good stuff in your Bank of Id so that you can be the best you can be when it comes time to put forth for others.
QuickBooks® Online Accounting Software – Free Trial
The wave of the future – accounting in the cloud! Migrate from desktop software to web-based software and you can access your QuickBooks accounting file from your web browser. No need to have your data on your hard drive – you just need an internet connection and away you go! Talk to me about converting to QuickBooks Online Accounting. As a QuickBooks Online ProAdvisor, I can offer discounts on monthly subscription fees for your business.
Don’t Just Count Your Beans, GROW THEM!
What do you need to run your organization?
You may need accounting and bookkeeping services, financial management advice, strategic business planning, coaching and training for you or your staff. But maybe those aren’t necessarily your areas of expertise. Or maybe those functions are distracting you from mission critical. The nuts and bolts of business operations and performance measurement may not be what you expect or even want to deal with. But you still need to have them to make your ideas come to life and achieve the goals you’ve set for yourself. You’ve got plans!
What can I provide?
Think of me as your CFO on-call! I love accounting and strategic management – so you don’t have to! As your management consultant I can help you sleep at night by helping you realize more return on your investment of time and resources. After all, the point of being in business is to make a profit (not a dirty word, by the way!) so that you can create financial stability, succeed at achieving your vision, and even enjoy a well-deserved vacation once in a while. Why else would you put in all that hard work?
Improved efficiency = Improved profitability
My knowledge and experience as a Chartered Professional Accountant – CPA (formerly Certified Management Accountant – CMA) can fulfill your needs for:
- strategic planning and implementation
- business operations and infrastructure
- training and coaching
- accounting, budgeting and forecasting
- risk assessment and management
- financial and management consulting
- accounting software installations and conversions
- accounting for non-profits and registered charities
Let me fill in the gaps for you and give you the tools you need to really succeed in your venture; to implement efficient, practical and effective ways to improve business performance; and to provide ways to measure your success and manage your future.
Diana Rae, CPA, CMA
Diana Rae CPA 