Financial Advisory is the Key to Growing Your Business
Struggling with your business growth? Financial advisory may be the answer you’ve been looking for. There’s only so much you can learn an do yourself and there comes a point in business when you need to rely on someone with niche expert knowledge to give you insights you would be able to find on the Internet or in business journals. A number of big and small organizations have come to realize that financial advisory is the key to growing your business. We will give you 8 reasons why this is so.
1. Measure of performance
For any business it is crucial to have a consistent measure of performance and financial advisory can help you identify if you have one. If not, then the expert advisor can work with you to create one. Without such a structure your firm will likely register big gaps in measuring cash flow and profits.
2. Unrealistic division profits
If one or more divisions of your company has more profits than the business as a whole that is a problem. It is usually caused by allowing an offset of supposedly one-off expenses and financial advisory can help you tackle this issue.
3. Knowing where you stand geographically
When you expand your corporation abroad you would want to know how well you are doing in each part of the world you operate in. Failure to do so can prevent you from fixing some mistakes in marketing, supply or product development. It can also help you understand what region you need to focus your efforts on the most. Financial advisory will give a helping hand in that process and move your business forward.
4. Stay on top of your Invested capital
What would happen if you don’t monitor closely the capital you employ? It will reflect on your clarity on which departments of the company make the most money and which spend the most. Again, this is a major stopper for business growth. Avoid this mistake by hiring a financial advisor who will look into your capital and provide you with a breakdown of the profits and expenses.
5. Make sure you are a sustainable organization
Financial advisory will get to the bottom of your sustainability as an organization. To be sustainable, a business should have less or at least not dramatically more debts than profits, like it is in the case of General Electric, outlined in the Economist article.
6. Measure you tangible assets
Business growth also depends on your tangible assets. The more you lose, the less likely you are to grow. With financial advisory you can avoid situations that make you lose big portions of your tangible assets. A good advisor will be able to even tell you how to gain more assets, so such a service is truly worth the investment.
7. Protect your partners and shareholders
Happy shareholders equal opportunities for growth. Financial advisory provides assurance to shareholders that the company is moving in the right direction and all important financial processes are managed appropriately.
8. Accurate balance sheet
An accurate balance sheet is extremely important as it provides all the financial information that is needed to know whether the business is ready for growth or struggling to keep its size. Your financial adviser will work with you to establish which of your assets are tangible and which are not and whether your expenses are necessary and in the acceptable amount. In the end you will get a clear picture of where you stand and what actions you need to take.
Let FAS CPA & Consultants help you grow your business with financial advisory. By choosing us you will receive a high quality professional service by industry experts whose main objective is to provide exceptional value. Call us today or email firstname.lastname@example.org and eliminate all the hurdles on the way of bigger success.
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