Unlocking the language of your business numbers

James Marshall - Director, MWM Advisory

Numbers are fundamental to many things in our day-to-day lives – the score in sport, the odds on a bet, time, distance, weight, cost, price…

Numbers are also core to our language and our actions, and many of us take it for granted that we know how to use them correctly.

Yet, when it comes to business financials, many business owners are the first to admit they don’t know enough or don’t understand what the numbers are telling them.

The language of numbers

In business, numbers tell you what’s working, what isn’t, what’s risky, and where the safety lies – they are the language of your business. So, as in life, if you know how to understand them, you’re more likely to know what action to take.

Yet, for many business owners, this is an area they choose to steer away from. Why is this? Well, it’s human nature to want to defer away from brutal truths. We might discover we’re not the business owners we thought we were, maybe we’re not as profitable as we thought, or maybe we shouldn’t have spent so much last month… That’s where accounting comes in.

However, for many of us understanding the numbers of our business can seem challenging and confronting. And just like learning a new language, for many people, it seems daunting, too hard or far too time-consuming!

Take a trip away

A good way to get around the problem of learning business financials and accounting is to think of it in the same way we think about going on holiday.

As Australians, we love travelling, that’s what we do. Many of us will take the family and head to Bali without a second thought to the language barrier which lies before us.

Why is it that despite not speaking Indonesian, we’re still willing to go on holiday and navigate through a country where we don’t understand the language? Well, it all comes down to the fundamentals.

When we go on holiday, we might not speak the language, but there are a few choice phrases or words we can learn to help us navigate through our exciting new destination. The same rule applies to the language of business financials.

So, with this is mind, let’s pack our bags and go on a holiday to the magical land of numbers!

Navigating with the fundamentals

If you want to learn how to be a successful business owner, like having a successful holiday, you need to learn the core principles and a few key terms to help you navigate through the often-murky waters of managing business finances.

However, you don’t need to learn everything at once. Terms like profit, loss, balance sheet, cash flow statement, break-even analysis… all you need is about five or six terms and you’re set!

Once you understand these basic concepts, you can start to understand the numbers. Don’t let it overwhelm you or confront you – just focus on the key terms.

Know Your Numbers with James Marshall

Presented by MWM Advisory Founder James Marshall, Know Your Numbers is a 3-hour masterclass instilling 10 hours of content into an insightful and entertaining seminar that will give you a new understanding of your business numbers, and how to use them to fine-tune, grow and succeed in your business.

In the seminar, James unpacks the six steps you need to learn to manage, control and improve your financials, presented in simple language you can relate to.

Topics include:

• The importance of numbers
• If you measure it, you can manage it
• Turnover, profit and cash
• What are the key financial reports?
• Understanding profit and loss
• Understanding the balance sheet
• Is your business financially viable?
• Using budgets and forecasts effectively
• 5 ways to improve your gross profit
• 3 top strategies to grow your net profit
• And more importantly… Creating a break-even analysis!

Know Your Numbers is a FREE seminar, so if you’re a business owner, a sales manager responsible for preparing budgets forecasts and sales reports, a graduate accountant, or the spouse of a business owner… or any person invested in the success of a business, then make sure you reserve your seat here.

Testimonials

Here’s what our guest and clients had to say:

“James is highly engaging, keeping the audience on the edge of their seats at all times, about accounting of all things! His illuminating advice that numbers are a language will stay with me forever. Highly recommend the Know Your Numbers masterclass.” ⭐️⭐️⭐️⭐️⭐️ – Leah Elson, MWM Client.

“Amazing, and totally had my attention. James is the most amazing accountant and made me interested in really understanding my financials. He runs brilliant workshops and I learnt so much. Anyone with a small business needs to check out his Know Your Numbers seminars…” 👍 – Simone Patterson, Founder, CEO and Social Worker at The Sanctuary Women, Children and Pet’s Refuge.

“Thank you for today, it was very informative and a great initiative. Thoroughly enjoyed it.” 😊 – Louise, MWM Client.

Book now!

Where and when?

MWM Advisory Office – Level 4, 3027 The Boulevard, Carrara, QLD

• 9:00am to 12:30pm – Wednesday, 17 August 2022
• 9:00am to 12:30pm – Wednesday, 24 August 2022

Free parking is available onsite.

A light lunch and refreshments will also be provided.

Further details and tickets can be found here.

If you think one of your friends or colleagues would benefit from attending this seminar, be sure to forward this email on to them!

Book now!
Team member in the spotlight – Jake Turton

Team member in the spotlight – Jake Turton

In this series we’re spotlighting a different MWM Advisory team member each month, so you can get to know the team a little better. Say hello to Accountant, Jake Turton. “MWM Advisory has developed into an ambitious, motivating and diverse workplace. It is exciting to...

Know Your Numbers is back!

Know Your Numbers is back!

Presented by James Marshall, this 3-hour masterclass instils 10 hours of content into an insightful and entertaining seminar that will give you a new understanding of your business numbers, and how to use them to fine-tune, grow and succeed in your business.

Celebrate the End of Financial Year with your team and ours

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.