Cynex Bizcamp Belgium 2009

Cynex Bizcamp Belgium 2009 - Presentation Transcript

Bizcamp 2009 10 ﬁnance must haves to grow your business 9 Jeroen Meens, Cynex www.cynex.com Monday 26 October 2009

Monday 26 October 2009 Think of bees as money. Do you wake up every morning with an empty net to catch bees? Or do you wake up every morning in a garden that attracts many bees?

Monday 26 October 2009 Here are my business ventures. Today, with Cynex, our business is helping you grow yours. We manage your bookkeeping, tax and accounting and you get all the coaching, expertise and experience included.

“Knowing yourself is the beginning of all wisdom ” - Aristotle Monday 26 October 2009

Who are you? Where do you want to go? Monday 26 October 2009

Monday 26 October 2009 You need a goal to score

Monday 26 October 2009 How will the business look like or garden look like?

1. know your ideal client and adjust your cash planning on getting them garden? bees? Monday 26 October 2009 PICTURE THE CUSTOMER FIRST, then design your garden NOT THE BEST PAYING CUSTOMER, BUT THE BEST CUSTOMER

money finance or not? € 3.000 time Monday 26 October 2009 If your burn rate is 1000 a month and getting a customer takes 3 months, then you need to be able to find 3000 euros. If you need to finance that, you need to see if the interest your paying is worth what you’re getting from your customer.

2. know your break-even Monday 26 October 2009 Not knowing your break even is not knowing how your business is doing.

money profit revenue total loss variable xed time Monday 26 October 2009 See if any investments you make, make sense.

3. paying taxes is cheaper than trying to avoid to pay taxes Monday 26 October 2009 Focus on profit first. You need it when dealing with a bank or an investor. Profit gives you oxygen and puts you in the driver’s seat instead of the other way around. Taxes are a short term cost for long term ROI.

tax = short term cost to create ROI in the long term Monday 26 October 2009 It’s what investors or banks need to give you money. Of course it does not have to be out of proportion, but some is important.

25K Proﬁt = 100K investment = 1 year time Monday 26 October 2009 With 25K proﬁt you can get 100K loan from the bank and have a year time to make a return on investment

Bank 4. Venture Capital Subsidies Own Cash Flow Pro t Private Monday 26 October 2009 capital: pro’s and con’s

5. Investment ≠ Cost Monday 26 October 2009 Saving taxes by making costs at the end of the year is not the same thing as investing

ceci n’est pas une investissement. Monday 26 October 2009 In you bookkeeping it says investment, but in reality it is proﬁt. Once payed off, value has decreased; an investment should have increased.

€ € 6. Cash is King Monday 26 October 2009 Car is payed off, no value left and no cash in business. Collect your bills, negotiate payment terms

6a. Emotional Flow > Cash ow Monday 26 October 2009 focus on what you do best, get the right people to surround you. know what you do at all times.

Monday 26 October 2009 Cash = Oxygen.

7. Grow = Proﬁt Monday 26 October 2009

Control Grow Pro t Monday 26 October 2009 Most want to go too fast. Control your business ﬁrst, take the proﬁt and get access to capital ti grow.

“Grow” without “Pro t” = useless “Grow” without “Control” = bankruptcy “Pro t” without “Control” = less pro t Monday 26 October 2009

Trust Control Capital Pro t Grow Liquidity Monday 26 October 2009 It’s the same principles as our ﬁnancial system and it’s what ﬁnancers use to lend you money.

7. Have a plan Monday 26 October 2009 Think long term

it’s not about the ﬁgures it’s about the “how” Monday 26 October 2009 How did you get to those ﬁgures? How do you reach x amount in sales, etc.

Look in the mirror and be honest to yourself forecast actual Monday 26 October 2009 Did you meet target or not and act accordingly.

9. Monday 26 October 2009 Not knowing how you’re doing is like fast food. You don’t know what’s in it, you know it’s bad for you, but you keep eating it. And slowly you get out of shape and die. Same thing with business. Know what you do so re- think your accountant.

Monday 26 October 2009