Numbers don’t need to be scary – in fact, understanding your profit margins and cash flow can be the key to your business’s success.
Set up bookkeeping from day one
This can be a simple spreadsheet, accounting software or a hybrid system if you take cash.
The goal is to track:
- Income
- Expenses
- Bank transactions
- Any money you take out of the business
- Any money you put in
This makes your annual accounts and tax filings much easier!
Understand cash vs profit
These two numbers don’t always match: knowing the difference helps you avoid overspending just because your bank balance looks healthy.
Know your key financial dates
Depending on your structure, these may include:
- Companies House filings
- Self Assessment deadlines
- Payroll dates
- VAT payments (if relevant)
We recommend keeping a financial year calendar. We can provide you with a personalised list of your annual deadlines.
Price with intention
Your prices need to reflect:
- Your costs (fixed and variable)
- Your time and expertise
- Market value
- Your profit needs
Pricing is not a one-time decision: your first 100 days are a chance to check whether those prices work for you and your customers.