flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

Planning for the Financial Future of Your Business

Editor's Note: Take a look at our featured best practice, Comprehensive Guide to Financial Statement Analysis (89-slide PowerPoint presentation). This document provides a detailed step-by-step guide on how to analyse financial statements. Designed for anyone who wants to understand how to review financial data and interpret the findings, the document is split into the following sections: Introduction to financial statements 1. Income [read more]

* * * *

Once you have set up your business, you may be looking at what the next steps are to ensure that your business continues to grow and has a stable financial future. When considering the future of your business, there are a number of steps that you can take to ensure that your business is able to grow efficiently and securely through its financial stability.

Use Comparison and Advice Websites

Many small and large businesses are over-spending when it comes to their energy and utility bills such as electricity and gas. This expenditure can be better utilized in reinvestment in your business and can help to destabilize the finances of your business. To check whether you are spending too much on your utilities, you need to take action by generating quotes from other suppliers. The best way in which you can do this is through a comparison website such as Utility Bidder. Not only is their comparison serviceable to find you quotes in a matter of minutes, but their advisory team can help you to make the right decisions about your businesses’ future when it comes to your utility bills.

Create a Financial Model

Financial models are virtual representations of real-life business situations that help to predict the growth and financial stability of your business in the future. These predictions are based on the history of your company and what you expect from the future, and you can fill these in by gathering statements on your cash flow, balance, and income. These can help you to plan your business’s future by understanding the likelihood of certain outcomes and using these to make changes that can help to grow your business, budget and allocate capital to certain areas. You can get documentation of sample models from Flevy that can help to form the base of your valuation.

Write a Business Plan

It is also vital that you start to create a business plan before opening your business as this is crucial to the expansion of your company. Business plans can help you to draw out your expectations in terms of funds, cash flow and growth as well as plan for changes and improvements that can help you to meet the goals that are stated in your plan.

Find Funding

Funding can help to grow your business and maintain financial stability by giving you extra money to reinvest into your business. If you are not able to provide the extra funding yourself, you should seek a mentor or apply for government funding and company schemes. Applying for these is time-consuming, but the benefits are incredible, with extra wealth to input into your staffing arrangements, training or the facilities that you need for your business to run smoothly.

Invest Your Business

Investing in other businesses can also be a key financial decision when it comes to raising extra capital for your business. Although you need to already have some financial stability whilst you wait for a return on your investments, if you have the correct knowledge at hand to make smart decisions about your investments. This can then help to fund the expansion of your business.

43-slide PowerPoint presentation
This document explains the financial statement analysis process. Most slides are instructional and covered topics include the financial statement analysis process, financial ratios analysis, accounting information (assumptions, principles, policies, procedures), and others. Financial [read more]

Do You Want to Implement Business Best Practices?

You can download in-depth presentations on Financial Analysis and 100s of management topics from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.

For even more best practices available on Flevy, have a look at our top 100 lists:

These best practices are of the same as those leveraged by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Improve the growth and efficiency of your organization by utilizing these best practice frameworks, templates, and tools. Most were developed by seasoned executives and consultants with over 20+ years of experience.

Readers of This Article Are Interested in These Resources


22-slide PowerPoint presentation
Evaluating Financial Ratios (or Financial Comparables) is a crucial method for evaluating the financial and competitive health of a company relative to its competitive peers. This document provides an overview to Financial Analysis, as well as deep dive into 20 widely used Financial [read more]


 
Excel workbook
 
 
192-slide PowerPoint presentation

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.


Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  

The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.
  


OUR CORE OFFERINGS
Flevy Marketplace: Top 100
· Strategy & Transformation
· Digital Transformation
· Operational Excellence
· Organization & Change
· Financial Models
· Consulting Frameworks
· PowerPoint Templates
FlevyPro (Subscription Service)
KPI Library
Streams (Functional Bundles)
Flevy Executive Learning (FEL)
PowerPoint Services

FREE Resources

About Flevy
Management Topics
Marcus (AI-Powered Consultant)
Partner Program
LinkedIn Influencer Marketing
FAQ / Terms / Privacy / Blog
Contact Us: support@flevy.com



CONNECT WITH US!
       
TOP 100 TRENDING TOPICS
Acquisition Strategy
Agile
Analytics
Artificial Intelligence
Balanced Scorecard
Best Practices
Big Data
Breakout Strategy
Business Continuity Planning
Business Plan Financial Model
Business Transformation
CMMI
COBIT
Change Management
Cloud
Communications Strategy
Company Financial Model
Competitive Advantage
Competitive Analysis
Consulting Frameworks
Continuous Improvement
Core Competencies
Corporate Culture
Cost Reduction Assessment
Customer Experience

BROWSE BY FUNCTION
Strategy, Transformation, & Innovation
Digital Transformation
Operational Excellence and LSS
Organization, Change, & HR
Management Consulting

Customer Journey
Customer Service
Cyber Security
Data Privacy
Decision Making
Digital Marketing Strategy
Digital Transformation
Digital Transformation Strategy
Due Diligence
ESG
Employee Engagement
Employee Training
Enterprise Architecture
Growth Strategy
HR Strategy
Hiring
Hoshin Kanri
ISO 27001
ITIL
Information Technology
Innovation Management
Integrated Financial Model
Kaizen
Kanban
Key Performance Indicators

ADDITIONAL RESOURCES
Business Strategy Frameworks
Case Studies
Consulting Training Guides
COVID-19 Trend Data
Digital Transformation
Financial Advising Services (FAS)

Knowledge Management
Leadership
Lean
Lean Manufacturing
Logistics
M&A (Mergers & Acquisitions)
Manufacturing
Market Research
Marketing Plan Development
Maturity Model
McKinsey PowerPoint
McKinsey Templates
Operational Excellence
Organizational Change
Organizational Design
Performance Management
Post-merger Integration
Pricing Strategy
Process Improvement
Process Maps
Procurement Strategy
Product Launch Strategy
Product Strategy
Project Management
Quality Management


Free Resources
KPI Library
Lean Management
Lean Six Sigma Training Guides
Marcus Insights
Operational Excellence

Real Estate
Remote Work
Restructuring
Risk Management
Robotic Process Automation
SWOT
SaaS
Sales
Scrum
Service Design
Six Sigma Project
Social Media Strategy
Strategic Planning
Strategic Thinking
Strategy Development
Supply Chain Analysis
Sustainability
Target Operating Model
Team Management
Total Productive Maintenance
Value Chain Analysis
Value Creation
Value Stream Mapping
Visual Workplace
Workplace Safety


Product Strategy
Small Business Owner
Startup Resources
Strategic Planning
Strategic Planning Process
Value Innovation Strategy


© 2012-2024 Copyright. Flevy LLC. All Rights Reserved.