MATS Consulting

Understanding Accounting & Finance, Part 1 – Introduction.

Some industries make use of lots of technical terms, and accounting and finance is one of the main culprits, it’s up there with IT.

Whilst you may be able to get away with not understanding a lot of the technical jargon (especially where computers are concerned) when running a business, accounting and finance is an area where it is worth getting to grips with the basics, and then some.

It doesn’t mean you need to be an expert, after all, that’s what you pay your finance team, a bookkeeper or an accountant for; what it does mean is that you are aware of what is going on.

Can We Make Our Own Rules In Business?

There is the standard check-list of things to things to think about when running a business, including staff levels, training, sales and marketing, finance and IT to name but a few, but what if you have all of this in place and are still struggling; could there be something else stopping your business from being the success you deserve?

In my last blog we explored Limiting Beliefs; what they are and how they are created, and these could be the unseen barrier in your professional life, as well as personally.

“Yes, everything is simple. It’s people who complicate things.”
Albert Camus

The workplace can be full of set beliefs or habits, those things that happen just because that’s always the way things have been done.

Are Limiting Beliefs Holding you Back?

Over the past couple of weeks my focus has been drawn to beliefs, in particular ‘Limiting Beliefs’. I have chatted to people over Linkedin about it, and it has been raised during a course I am doing called ‘YES to Success’, run by Deborah Poneman.

While examining and clearing negative beliefs is big part of the work I do, it feels as though this area is definitely being highlighted as something to focus on at the moment, both for others, and for my own journey.

During periods of change, our beliefs become really important, because if they are negative they can really block us. Having positive beliefs doesn’t mean you don’t have problems or challenges, or make you superhuman, it just means you can manage stressful situations with more confidence and creativity.

My Steps to Creating a Basic Budget.

As the the Coronavirus pandemic continues, more and more people are struggling financially; with more people claiming benefits, the pressures of managing money has become even more important.

Setting a budget is vital in helping get through tough times; it won’t give you any more money, but it will give you clarity, even if the picture is bleak. From clarity you can start to take action.

Budgeting can also give you a level of control, rather than the chaos of the snowball effect of closing your eyes and hoping for the best.

Taking responsibility for your finances can be quite empowering; you may still be struggling financially, but having a plan that you have created (even with help) will build your confidence and increase positivity. Continue reading “My Steps to Creating a Basic Budget.”

Business Finance; How Confident Are You That Your Accounts Are Accurate?

I found this blog in my drafts section, and wish that I had published it sooner, especially when I read the following sentence…..

“It is said that a crisis is the best way to change habits, but why wait? What happens if it is too late?”

The sad truth is that for some businesses it may already be too late, and they won’t survive the current crisis, especially those in the hospitality industry. Many businesses have been forced to close, and the opportunity to re-open seems a long way off.

Before the pandemic, if I’d asked you to write a list of the most important things you had to focus on as a CEO or a business owner, I would hazard a guess that ‘making a profit’ would have been pretty high up there; maybe even number 1.Continue reading “Business Finance; How Confident Are You That Your Accounts Are Accurate?”