Financial and Lifestyle Freedom for UK Business Owners

Today, on Day One of our Get Profit First Installed , we're going to get down and dirty with the foundations of Profit First. The rules, definitions, and framework could make all the difference between profit first helping you or forcing itself out of a job. This may sound daunting if you've never included this in your business, but the initial steps are exciting, and they include setting up those...

When your business is service-based, pricing can seem to be very daunting. The price you charge for your services is one of the hardest decisions you make because setting a price that is too high or too high can limit your business growth. Worst, it can cause serious problems for your cash flow.     In this episode, Annette will help you look at the two sides of pricing perspectives...

Annette will speak about the different things in your life and how that plays out in reality. We may have some ideal situations in mind but understanding that there will be some point in time that we cannot achieve is part of the journey. What truly matters in our business is we keep making steps toward our dreams and progress in reaching our goals. Here are the questions that came in during the l...

Today, Annette will talk about time. It is one of the important matters for most people, especially people who are running a business, time freedom. Though financial help helps business owners but vast majority seeks freedom of time. There is no judgment on how you want to spend your life but being clear on what you want is truly important.  Here are a few insights you’ll hear in today’s show...

A double-entry system of bookkeeping helps businesses keep their books in balance. When recording a transaction, every debit entry must have a corresponding credit entry for the same amount, or vice-versa. Confused? Now, this can be quite complicated in layman's terms but Annette made sure to explain these two accounting jargons very clearly. Don't let these accounting terminologies confuse you, u...

Annette wanted to have these Q&A sessions regarding Profit First because she wants to share how it has changed her life since she embraced the principles of Profit First.  These sessions offer so many valuable opportunities for you to learn and Annette will be happy to answer any questions you may have.  It is also possible that you may have the same questions as other people, but ar...

Could there be more things that you are not claiming as a tax relief, but should be? Definitely yes! In this video Annette will walk you through several tax tip secrets for UK consultants and coaches. That means you pay less tax and you'll take home more of your income.  Listen carefully and start taking a stack of those things that can be deducted from your tax payments. Here are a few insig...

Cash flow problems in your business are not a good thing. That is why it is of utmost importance that you are able to calculate the cash break-even point of your business because that ultimately is what matters. It is also important that you eradicate money leaks in your business so that you are able to generate a revenue that is achievable, ensure that your costs are in alignment, so that you are...

In life we do have plans for things we want to pursue and it is the same with business. Sometimes life lessons are the very same thing that you can also apply in business,  when things don’t go according to the plan. You can try harder, assess the situation or any given information available or you can maybe ditch the project and start over. As a business owner, it is very important to have a...

Running and any form of movement is very important because it is crucial to your mental health specially when you are running a business.  Running is that pause that every business owner needs  in order to reduce stress, be more productive and gain clarity to be able to make sound business decisions. So, be kind to yourself and clear your mind through running or if you can’t run, do some...

The failure or the success of your business lies with you as the owner of the business.  You cannot blame someone whom you’ve hired to do the marketing strategies when the business’ marketing campaign fails.  Your responsibility as the business owner does not end when you have hired someone to do a particular job for the business.  It is important for you to still know what is happe...

When your Profit and Loss Statement shows that you have  positive profit, you need to really check if that is real profit because it may not.  Positive  doesn't mean the business is financially healthy.  This is the case of  just “paper profit”.  Why does this happen?  Unreal profit happens  when profit that does not equate to having actual cash in the bank....

Understanding the accounting equation is very hard to comprehend for some, but in this episode you will learn about the most important accounting principle that is applied for all businesses. The Balance Sheet is all about being equal, it should be balanced and it is not possible that your Assets and Liabilities + Equity will outweigh each other.  When you understand the accounting for your b...

It is now common for people to be employed and at the same time to have a side hustle or what we call as self-employed.  People don’t leave their 9 to 5 jobs yet, as they weigh on what to keep between the two sources of income. It looks promising for the profit side of it, but there could be some problems here if you do not know the tax implications for both. Plus there are also rules with re...

Today’s episode is inspired by a conversation that I had with my client and it is all about payment terms. Understanding the payment terms is essential to grow your business and this is applicable for both product-based and service-based businesses. Stay tuned as I give different scenarios that will help you understand what should be done to help grow your business.     Here are a f...

The 'Profit and Loss Statement' (P&L), or ‘Income statement’ is one of the three major Financial Statements. In this video, you'll find out what the Profit and Loss statement is and how you can use it to measure a business's financial health. Here are a few insights you’ll hear in today’s show… - What is a Profit and Loss Statement and why it is one of the important financial statements of a b...

For most part, it is really hard to measure the ROI when it comes to our team.  Business owners invest in their people because you cannot do everything by yourself.  You need to delegate tasks in order to free up your time to focus on your expertise to do profit producing tasks.  However as in other businesses,  some of our team members do not understand that they are also part...

Businesses have their season of push and pull and as business owners you can use the season of pull in order to take a pause or have vacations.  Summer is a season that most people look into and have planned for way ahead. Part of the planning has something to do with the continuity of the business even if you are not around.  Imagine when you are on vacation and your team keeps on calli...

Sometimes  success is only superficial because our vision of success is limited.  This is the reason why some businesses are able to take off, but at some point hits the plateau and oftentimes drops down.  That’s because we only look at the sugar coated version, which is fine, but are you able to look at the deeper level of success?   It is necessary that you are able to p...

Will your business operations continue if you are not around? Some business owners are not able to let go of the helm in managing their business because they think that their presence is crucial in the business.  But what about if there’s a situation that you can’t be around, are you prepared for it? A  big disruption happened to Annette’s family, but it was still manageable  for he...

Are you considering borrowing to get cash infusion for your business?  Don’t do it just yet unless you hear what Annette has to say about borrowing.   Over the past two years, most businesses were in a bad shape because of the pandemic, but borrowing is not the only solution to rescue the business.  Now lack of funds may not necessarily be your fault, but resorting to borrowing...

VAT registered businesses act as the collecting agency for HMRC and as such are required to submit a return and pay VAT to HMRC.  In this episode, you will get important information on how to pay VAT in the UK and also the basics of VAT for your business.  Be sure to pay attention to everything being said here so you can be guided accordingly and not incur penalties if you can't comply w...

I am opening the doors to Business Wealth Academy on May 26 and 27 so you can get the help that you need. As soon as you join me inside, you’ll have access to hundreds of video resources and regular live calls with me so you can take action towards more profit.  Not only that you will also get access to our private podcast. Here is a sample episode that will be made available to your once you...

Some people define success by the fact that they have more money in their lives, to be able to enjoy the perks that money brings. Some would define success as having a wonderful family life.  Financially successful people claim that family comes first, but their divorces and broken families refute that claim. Ultimately, the question that arises is: what is the price you are willing to pay fo...

As a business owner, you usually experience more stress than working a 9 to 5 job. There are more responsibilities to keep the business afloat, think of projects to add to your existing niche, plus hiring and managing a team, to mention a few.  Business failure can be a hard thing to recover from, so you'll need to devise strategies to stay in business.  Staying focused despite the overw...