Podcast Episode #20
Tony Barakat is the Chief Executive Officer and Co-Founder of ABJ Business Solutions. He devises strategies and provides data that improves business performance.
At ABJ Business Solutions, the objective is to provide SME’s with an expert business solution to help their business lay the foundations for growth; put in place efficient processes; understand their numbers; use specific indicators to measure and drive business performance.
ABJ Business Solutions provides a complete finance solution covering bookkeeping, CFO expertise, tax strategy, and compliance, along with innovative IT solutions – at an economical price.
The team demonstrates hands-on expertise in embedding financial information as a core necessity for organisations through the effective delivery of cash flow management, including satisfying bank requirements and negotiations; debtor control; accurate billing; reviewing monthly accounts against budget; maximising existing system reporting; planning and measuring the future through expert financial modelling; and partnering in the key decision-making events.
ABJ has a proven track record of cost control and profitability analysis by product lines so that businesses have the confidence to know exactly where they stand and what they need to do to move forward successfully.
How to Build a Budget and Monitor Business Performance Through Reporting
Part 1: Build a budget in 4 steps
Step 1: Set your initial yearly targets using a top-down approach
Step 2: Review/compare your targets using a bottom-up approach
Step 3: Set yearly targets for operating expenses
Step 4: Break your yearly targets into monthly budgets
Part 2: Reporting and business performance
Step 1: Create a monthly reporting process
Step 2: Schedule a monthly review of the reports with your management team
Step 3: Select the KPI (key performance indicators) for your business to monitor on a monthly basis
Step 4: Use the reports to understand the breakeven point and profitability of your business
Thank you for listening!
Thanks for joining us for this episode. Do you have any questions or feedback you’d like to share? We’d love to hear it! Let us know in the comments section below.
Remember – the next system we share could be just the one you been looking for, so subscribe on iTunes so you can get the latest episodes as soon as they’re published.
About The Show
Business Processes Simplified
We interview industry experts and have them share their best small business systems and processes. This is the quickest, easiest and most efficient way to build a systems centered business.
Podcast Episode #97New York Times Bestselling book ‘What Is Your WHAT?’ author, Steve Olsher, shares his profiting from podcasts system that helps business owners gain and increase their visibility as well as monetize every visibility opportunity that comes their way....
Podcast Episode #96This system shows the step-by-step process of launching a successful webinar. Unlike live sessions, a webinar is an event that is triggered after a series of events.Today's Guest Zhu-Song Mei Zhu-Song is the Founder & CEO of BigMarker.com....
Podcast Episode #95Narrowing your focus on only 1 or 2 products or services, instead of being a Jack of all trades, will make you referable and help you scale your business. The system below represents the scalability track - a process that identifies which products...