Latest News & Updates
Five reasons to ignore your numbers
It may seem bonkers, but I am going to give you Five reasons to ignore your numbers. It’s only fair that I balance things to give you Five reasons to take note of your numbers Here are Five reasons why you should ignore your numbers: Firstly, if you prefer to have no...
Why you should ignore your numbers
So, if you’re someone who hates numbers I have five reasons Why you should ignore your numbers. Firstly, if having no clarity or focus in your business sounds appealing to you then by all means continue to avoid looking at your numbers. Secondly, if...
Understanding assets and liabilities
One of the most important aspects of a business is understanding its business assets and liabilities. Assets are what a company owns and can use to generate income, while liabilities are amounts the company owes to others. In order for your business to be successful,...
Assets and Liabilities Explained: What They Mean in Business
Assets and liabilities are two of those accounting terms that sound more complicated than they need to be. However, understanding them gives us a much clearer picture of what a business owns or controls, what it owes and the resources available to help it generate...
Understanding gross profit
Business owners, Understanding gross profit should be on your list of need to know . Gross profit is one of the most important financial measures, this video will Firstly, explain what it is Secondly, tell you how to calculate it Thirdly, contrast mark up and margin...
Gross Profit Explained: How to Calculate Gross Profit, Margin and Markup
Gross profit explained simply: it is the money left from sales after you take away direct costs or cost of sales. Sales alone do not show whether your business is healthy. Instead, gross profit helps you understand pricing, costs, margins and whether each product or...
Understanding operating profit
Understanding operating profits helps you make better and informed business decisions. If you are serious about business, then it's important to understand key financial concepts like operating profit. Small businesses, arts organisations and social enterprises can...
What Is Operating Profit? How to Calculate Operating Profit and Margin
What is operating profit? It shows how much money your business makes from its core activities after you take away direct costs and operating expenses. Sales alone do not tell the full story. Instead, operating profit helps you understand how well the business...
Financial planning and mental health
Financial planning and mental health, there’s a link and it’s a positive one. In this video, I look at three reasons why financial planning is good for your mental health. When you have a plan and know where your money is going, it gives you a sense of control and...
What is operational gearing and how to measure it
Risk is a natural part of business life; using operational gearing measures one of those risks. Sorry to throw in a bit of jargon there at the start, my jargon buster ray gun is there at the ready. Have you ever wondered what operational gearing...
Break-even explained
For many businesses, break-even is a critical milestone. It can be a make-or-break point for small businesses and signifies the point at which revenue from operations equals total costs. But what does break-even mean? And how do you achieve it? This weeks video...
What does break even mean?
If you want to stay afloat in your business, understand break even and how it can help. Every industry needs this key number for different reasons but regardless of what kind of company or size you are you should have a grasp on these fundamentals!...
What is operational gearing
Operational gearing is an important tool for business owners and entrepreneurs. It's a measure of how much profits are being generated by the company's day-to-day operations, as opposed to its investments. In other words, it can tell you how lean your business is...
Keep your business afloat during a recession
A recession is a difficult time for any business, so knowing How your business deals with a recession is a vital part of your toolkit, It may be that your customers may have less money to spend, you may have to let staff go, and your bottom line may be...
How to survive a recession and prosper
As we all know, the economy is not doing so well, but I want to show you How to survive a recession and prosper There are things you can do to survive a recession and even prosper! In this blog post, I will share with you some tips on how to make it through these...
Cash Profits Explained: Cash Basis, Traditional Accounting and Tax
But cash basis accounting and traditional accounting can produce different profit figures in the same year. Understanding why helps you make sense of your tax return, your business performance and what the numbers are actually telling you. We use a straightforward...
Using the cash basis for tax
Many small businesses in the UK are Using the cash basis for tax. This is a simple and straightforward way of accounting for your business income and expenses. In this video I'll explain how to use the cash basis for tax and highlight some of the benefits it offers. ...
Self-Employed Tax Return: What Sole Traders Need to Report
A self-employed tax return can feel daunting, especially when you are staring at income, expenses, accounting methods and tax terminology that you may only deal with once a year. But the basic job is much simpler when we break it down. We need to understand what...
Completing your self employed tax return 21-22
Completing your self employed tax return 21-22 can seem daunting, but it doesn't have to be. This video, part 2 of 2, follows on from last week. The process is broken down, so you can ensure that you're getting the most out of your tax return. Whether you're a first...
How to Complete a Self Assessment Tax Return
If you need to complete a Self Assessment tax return, the job can look much worse before you start than it does once you break it into steps. You need to know whether a return is required, gather the right information, complete the main return and any extra sections...
How to prepare your tax return 21-22
How to prepare your tax return 21-22 may not get the pulse racing. For some it may cause anxiety, apoplexy and poking eyes with sticks may come to mind. However, if you are one of the 10.2 million + people that must complete a self-assessment tax return it’s a...
Making business decisions in uncertain times
Making business decisions in uncertain times can be difficult. There are a lot of things to consider and it can be hard to know what the right thing to do is. However, by taking a few things into account, you can make decisions that will help your...
Decision making under uncertainty
In business, it's essential to make decisions quickly and efficiently. However, Decision making when things are calm is not the same as Decision making under uncertainty. In this video, I go through the the steps you need to take to make rational decisions when...
How to deal with a cost of business of crisis
If you're a business owner, then you know that the cost of doing business is always on your mind. But what do you do when that cost suddenly skyrockets? Whether it's an increase in rent, wages, or material costs, a sudden spike can be disastrous for your bottom...
The cost of business crisis
Businesses are facing a cost of business crisis. This affects millions of business owners in the UK and around the world. Not in a good way. This is a crisis that's under reported, not widely discussed and very little financial support. However, it's something that...
Customer value – CLV, segmentation and retention
Customer lifetime value and segmentation is this week's episode of the I Hate Numbers podcast. Last week I kicked off with part one I will be continuing from part one my exploration of customer lifetime value by looking at Firstly CLV and net CLV calculation...
The power in customer lifetime value
What is the is a power in customer life time value. Using numbers in the right way in your business is a powerful way to Firstly, give you insight Secondly, make great decisions Thirdly, reduce anxiety Also, to provide clarity More importantly help you make money, be...
How to use customer lifetime value
Numbers gives you business superpowers, you should be Using customer lifetime value as one of those numbers. In this podcast I will Firstly, break down what CLV is Secondly, how you can go about calculating it for your own business. Lastly, why it's important...
How to calculate customer lifetime value
Have you ever wondered how to calculate customer lifetime value? Or what it even is? Above all CLV, as it is often called, measures how much a customer is worth to your business over the course of their relationship with you. Most importantly it considers all of the...
VAT Registration Impact: Pricing, Profit and Processes for Your Business
VAT registration impact can be felt across your pricing, profit, cash flow, records and business processes. Once your business becomes VAT registered, you are no longer only selling goods or services. You also collect VAT for HMRC, review how customers respond to...