Health Check for Your Business

Finally some good news! We are getting closer to a Covid 19 vaccine after this dreadful Pandemic has caused the unfortunate deaths of 1.27m people around the world.

Covid has also caused the demise of many businesses across the nation. But even before the Pandemic crisis in Australia, only 64.5% (63.3% in QLD) of businesses have survived since 2014.

What about your business?

How healthy is your bottom line? Will you survive to 2025?

Businesses which survive are those businesses that do the basics really well. Let’s forget about the bells, whistles and window dressing as they do not contribute to the bottom line.

It reminds me of an article written about corporate collapse. The first signs are the three F’s. In America, corporate head offices which had Flags, Fountains and Fishponds did not survive the obstacle course of increasing shareholders wealth.

In todays environment it is more important to understand the risks and take action early, and your business needs the tools to do THAT!

A health check of your business is the place to start:

• Do you have a simple but detailed daily cash flow which is forecasted into the future that you can rely on?
• Do you understand your financial position of the business through quality, timely and accurate monthly financial reports?
• Do the financial reports have indicators which demonstrate the areas to improve and forecast at the right level of detail to predict future performance?
• What are the key drivers that will lever improvements in your business?
• Are all your processes clearly defined to drive productivity and ensure proficiency of staff to improve profitability?

If you don’t have adequate answers or responses to the questions I pose above, perhaps we need to chat?

Contact Andrew Walker
CEO Improcus,
Tel: 04 1775 1775.