Stay in control of your business......

........ by being able to answer just three questions. Quite simply, if you can confidently answer just three key questions, the chances are your business is under control.

1. How much profit do you need?
A surprisingly obvious - yet often overlooked - question. And the best way of answering it is to produce a budget.

2. How much cash do you need?
Even the most profitable businesses can go bust. And the reason is simple - lack of available cash. So how much cash does your business need over the next year or two? A cashflow forecast will help you find out.

3. Is your business performing to plan?
Having established what profit and cash you require, you need to measure and compare it to the actual performance of your business. Comparing actual and planned figures will help you to achieve your targets and significant discrepancies should then be looked at and remedial action taken as necessary.

If you need help answering any of these questions, or just want a second opinion on whether your business is under control, take a look at Your Financial Manager (Taking the guesswork out of running your business) in our on-line publication Business Forum. Alternatively, please contact John Moore on 01622 213747 or email john.moore@dsh.co.uk