The document discusses 10 finance must-haves for growing a business. It emphasizes the importance of knowing your ideal customer and adjusting cash planning accordingly, understanding your break-even point, paying taxes to create long term return on investment, having different sources of capital, treating investments as true investments rather than costs, prioritizing cash flow, focusing on profit and control before growth, having a long term plan, and regularly monitoring actual performance versus forecasts.

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

2. 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?

3. 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.

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

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

6. Monday 26 October 2009
You need a goal to score

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

8. 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

9. 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.

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

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

12. 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.

13. 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.

14. 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

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

16. 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

17. 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.

18. € €
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

19. 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.

20. Monday 26 October 2009
Cash = Oxygen.

21. 7. Grow = Profit
Monday 26 October 2009

22. 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.

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

24. 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.

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

26. 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.

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

28. 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.

29. Monday 26 October 2009