MYBC: A Unique Proposition

MYBC offers a complete solution to the management of your businesses financial and taxation administration. We specifically focus on helping business owners achieve greater profitability and improved cashflow through more effective financial management and decision making processes.

At MYBC our mission is to help business owners get in control of their finances so they can enjoy peace of mind... reduce their stress levels... get their time back... and focus on getting the vital information they need to manage and grow their business.

Business Owners Beware! Growth can cause financial management headaches

As your business expands, more financial issues arise and everything becomes more complex. This can leave you exposed to risk, so it's important to get your financial records under control to ensure your long term survival. 

  • The more complex your business is, the harder it is to know whether or not your bookkeeper is managing your accounts properly and efficiently. It also becomes riskier to rely solely on one person to provide you with all your bookkeeping and management reporting needs.
  • Many a report on business failures mentions poor financial and cash-flow management as one of the number one reasons for failure. Even experienced business owners and entrepreneurs are so focused on generating new clients - and forget about the area of financial management which causes significant financial challenges and prevents the business from steady growth.
  • Growth and expansion can leave you in the dark about whether or not you have enough cash to pay your staff / bills / GST / tax, etc.
  • (FACT: In a recent MYOB survey it was discovered that 64.5% of small business owners are relying on their bank balance as an assessment of their financial performance and 24.4% are relying on "Gut Feel"!)
  • With so much money coming in and out, it's often difficult to tell whether your business is profitable and making money. And whether or not it could be doing better and making more money. This can cause you to hold off on decisions which could allow you to expand your business.

Poor financial records prevent you from making decisions which could avoid cash-flow problems or ensure the growth of your business.

Remember: Information is Power.

And not having access to timely information from your accounting systems could mean you miss out on opportunities, or fall into cash-flow traps which could have been easily avoided.

Read more about challenges Small Business Owners face...

Knowledge is Power

It's vital to realise just how important accurate and timely information is to your business. Up to date and accurate information gives you peace of mind that your finances are under control and the knowledge you need to have more control over your business, so you can make the right financial decisions to ensure you succeed in today's tough economy.

Information gives you peace of mind because you know exactly where your business is at in any given moment. It allows you to stop worrying about your tax payments, how you are going to pay your staff's super or wages, whether you can afford to take on more staff, which bills to pay and which ones to delay, and how to forecast the expansion of your business.
 
With our best practice financial management systems, you can have the information you need to analyse your profitability, set budgets, forecast cash flow requirements, and identify and resolve issues before they become major problems.
With MYBC you'll get the same financial systems and controls normally reserved only for those companies turning over $10 million or more so you can monitor your performance, forecast and plan for your future, enjoy peace of mind that your accounts are in order and, above all, get your time back.
 
At MYBC we specialise in providing small business owners with the information you need so you can say goodbye to financial worries and focus on making the decisions you need to manage your business efficiently. If you've ever worried about your cash-flow, if you delay making decisions because you're flying blind, if you don't understand how to use your figures to grow your business; we can help you

It all seems so complex. How do I get in control of my business financials?

This is a question I am asked almost daily. And the reason why most businesses suffer from poor financial management is because their financial systems have been poorly set up from the beginning. Poor systems cause real damage to your company and to your ability to manage your business and make effective decisions.
Big businesses realise this and set up financial systems and controls which allow them to expand effortlessly. They realise that for a business to flourish, it has to operate just like a powerful machine. Otherwise it can never become that thriving autopilot cash cow you've always wanted.

Let's look at some examples of the sort of problems poor systems can cause:

Problem # 1: Poor systems mean poor internal controls

For example, customers not being invoiced properly or regularly enough, not chasing up debtors soon enough or at all, not managing supplier payments, not managing liabilities sufficiently and therefore incurring tax debts, interest and penalties, etc.

Problem # 2: Poor systems can result in poor cash flow management

Fail to keep on top of regular payments and liabilities, or plan for delayed liabilities (eg GST/tax etc) and you'll soon be in hot water with no money available when these payments fall due. Plus, you could miss out on other opportunities because no cash-flow is available.

Problem #3: Poor systems can result in poor business decisions

Failure to monitor your business's performance with accurate and reliable financial information on a regular basis, can leave you "flying blind" and unable to make informed business decisions when you really need to.

Does all this mean that a business with good financial systems will run more fluidly and profitable? Absolutely. The bottom line is without the right financial systems, you will continually be left in the dark and hoping for the best.

What's The Difference Between Big Company Financial Management And Small Company Financial Management?

For years I worked with many large businesses including British Airways and British Airport Authorities. In a nutshell, I discovered companies with a turnover in excess of $10 million per annum can afford to get their systems set up effectively, and employ a:

  • Financial Controller (at approximately $120,000 per annum)
  • Management Accountant (at approximately $80,000 per annum)
  • Assistant Accountant (at approximately $60,000 per annum)
  • Accounts Clerk/s (at approximately $40,000 per annum each)

As a result, their systems run extremely effectively and obviously they have an unfair advantage over smaller businesses.

To the contrary, most businesses turning over less than $10 million per year can't afford this sort of expense. Therefore they operate very differently.

Normally they rely on an administration staff member or sole operator bookkeeper to do the work for them, and then pay a visit to their accountant once or twice a year for advice and the completion of their annual tax return.

There are several essential problems with this process, including...

  • A sole operator bookkeeper is often untrained in certain aspects of the role and can make mistakes if unsupervised. What's more, they often become overloaded with work or have unexpected issues which stop them from delivering on their promises, leaving you way behind the eight-ball. Not only on knowing your figures, but for compulsory filing of BAS and other regulatory requirements.
  • Admin staff usually have less experience in doing the books and have made many a mistake which has cost their employer thousands of dollars. What's more, because this is not their field of expertise, they will usually need to spend significantly more time on the role than a trained professional.
  • You seldom find bookkeepers or employees who will be able to provide you with the high level reporting and financial information you require to be able to guide your business most effectively.
  • Your bookkeeper and Accountant are often not working together and end up blaming each other for problems that result from poor or no communication with regards to your financial position.
  • Most Accountants work on historical data and more often than not by the time the information is presented to you it is outdated and too late……

The bottom line is it's virtually impossible for the small to medium size business to get access to the sort of high level financial service which the big companies have access to.... until now. 

Truth is, most business owners are like the captain of the ship who knows where he wants to go, but doesn't know where he is right now. And no matter how fast his ship moves, if he doesn't know where he's located, he's almost certain to end up in choppy waters.


Contact MYBC Today To Make An Appointment 

How Can MYBC Help You?

At MYBC we employ a team of finance professionals from Accounts Clerks through to Financial Controllers and therefore have the expertise your business will require at every step of the way. Our staff are "shared" across a number of small businesses enabling you to benefit from their skills and expertise without having to employ them full-time.

At MYBC we are committed to helping small and medium sized business owners develop proper financial controls and understand the untapped power lying hidden in their financial records. Our whole approach is based around bringing the big business financial structures to small business at an affordable price.

Our team has helped dozens of Adelaide business owners get in control of their finances and get the timely information they need to ensure they never miss out on an opportunity to improve their cashflow and increase their profits. We want to help you too.

Customised Service

At MYBC we take the time to get to know our clients and we customise our services to meet the individual requirements of each business. Our complete financial management service is particularly suited to organisations with a turnover in excess of $1m, who have increasingly complex financial needs and require access to better skills and experience than they can employ in-house. However, we also offer tailored support to meet the specific needs of smaller and larger companies.

Contact MYBC Today to Find Out How We Can Help You

How Do I Get Started?

Read more

Whether you're a retailer, manufacturer, consultant, distributor or in the service industry; regardless of what kind of business you're in, implementing these leading financial systems will create exceptionally positive results for you and your business. Our systems will take away your accounting headaches, create better control, ensure your bookkeeping is always up to date and allow you to make decisions to grow your business year in and year out.

If you're frustrated with the unreliability and inconsistency of your bookkeeping and accounting systems, or tired of not having access to the financial information you need to manage your business successfully, it's time for you to partner with MYBC.

"Right Now… You Have 2 Choices"

One…

Put off the decision and keep doing what you've always done because it's 'comfortable' (keep doing the same things & you'll keep getting the same results) Continue to agonise over the time managing your accounts chews up, wonder whether your bookkeeper is getting all the figures right, let money slip through your fingers because you don't know how to tap into your financial reports and KPI's, and accept the worry and frustration not having your accounts in order causes.

But what's that going to do? It's going to cost you money… and it's going to cost you time. Not to mention the stress and lost opportunity as a result of not having your accounts in order, or being in a position to analyse your vital key performance indicators and tap into the hidden profits in your accounting system. How much longer will you keep doing it the frustrating, stressful and time-consuming way for?

Or two…

Become one of the rare business owners to engage a qualified expert to get the systems in place which take all the headaches away from managing your finances. Engage Make Your Business Count to become what some clients refer to as "Your In House Accounting Team" and enjoy increased efficiency, peace of mind and time freedom.

I personally guarantee to provide you with a reliable Financial Management Service which allows you to say goodbye to the financial record keeping headaches which plague so many businesses, and provides the data you need to monitor and analyse your performance on a regular basis.

If you want to get your peace of mind and your time back, simply 


Contact Us to secure your Free, No Obligation Consultation Today

Don't spend another day managing your financials the old fashioned, obsolete, horse and cart way. We can transform your business with 'best practice' accounting systems & technology that will give you more control, take away your financial headaches and give you the timely and accurate information you need to make the informed decisions which will improve your profitability and cash-flow position.
 
Thank you for reading, and I wish you success in all your endeavours!
 

Contact Details

Address:
2/146 Greenhill Road, Parkside, SA, 5063
PO Box 6308, Halifax Street, Adelaide, 5000

Phone: (08) 8471 7007
Fax: (08) 8357 2184
Email: info@mybc.com.au

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