GTB Growth Cube

Managing Cash

This involves understanding your cash position including quantifying expenses, estimating tax liabilities, establishing an effective debtor policy, preparing annual cash flows, overhead control and budgeting.

Once your cash position if fully understood we move onto improving your profit.

Improving profit

There are many ways for businesses to improve profit which we explore with each client depending on their circumstances, including: 

• Improved pricing - small increase to income with no change in overheads.
• Improved efficiency - small increase to income with no change in overheads.
• Decrease in overheads - labour productivity & selected expenses
• Comparison with industry averages
• Know breakeven point 
• Consider small increases in income and small decreases in expenses
• Prepare an annual budget
• Set KPIs for Income and Expense drivers
• Complete an annual tax review

Achieving Sustainability

In the next stage, Gauld Tulloch Bove’s experts work with business owners to ensure the financial position can be sustained and protected. This will include areas like income & life insurance, updating wills, retirement strategy, government assistance.

In this stage, we also focus on protecting assets like physical assets to ensure they are secure and insured, that you employ the right people, ensure legal ownership of intangibles, and more.

The final piece of the puzzle is protecting customers by maintaining industry knowledge, understanding future customer needs, knowing your competitors, and predicting problems.