Video below 50Video below 51-80Video above 80SourceHidden 2Hidden 3Email Header<p>Thank you for taking the time to complete the Business Financial Healthcheck.</p><p>Your individual report is compiled in the PDF attached.</p>Email Footer<p>Many thanks,</p><p>Trudi Lilley (ACMA, CGMA)</p><p>Director</p><p> </p><p><strong>BOOK A CALL HERE: </strong><a href="https://calendly.com/trudi-lilleyandco/20min"><strong>https://calendly.com/trudi-lilleyandco/20min</strong></a></p><p><strong> </strong></p><p><strong>T: </strong>Leicester <a href="tel:01163%20655579">01163 655579</a> </p><p><strong>T: </strong>Guernsey <a href="tel:01481%20700582">01481 700582</a></p><p><strong>M: </strong><a href="tel:07484%20705242"><strong>07484 705242</strong></a></p><p><strong>W</strong>: <a href="http://www.lilleyandco.net/">www.lilleyandco.net</a></p><p> </p><p> Lilley & Co (UK) Limited is registered in England and Wales, company number 9628364</p><p>Lilley and Co Limited is registered in Guernsey, company number 57977 </p><p> </p><p>This message (and any associated files) is intended only for the use of the individual or entity to which it is addressed and may contain information that is confidential, subject to copyright or constitutes a trade secret. 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Any views or opinions presented are solely those of the author and do not necessarily represent those of the company.</p>Data PrecisionAvailable values for Topic 1Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Is your bookkeeping up-to-date and cloud-based?*No, my records are disorganised and I'm not sure where things stand financiallyI think my accountant handles the books but I'm not very involvedYes, I access real-time financials so I can make informed decisionsThis field is required.PlanningAvailable values for Topic 2Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you have a forward-looking financial plan?*No, I operate by the cash available rather than predictionsI have a general idea of where I want to be financiallyYes, I have a detailed forecast to guide decisions and track progressThis field is required.Cash FlowAvailable values for Topic 3Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you have enough cash reserves to cover 3 months of overheads?*No, I take each day as it comes without reservesI think I could cover some period of overheads if neededYes, I have significant reserves for financial stabilityThis field is required.Do you actively follow up on overdue customer payments?*No, I avoid asking clients for moneyI know who owes me but struggle to collect promptlyYes, I regularly contact clients to quickly collect what is owedThis field is required.TimeAvailable values for Topic 4Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you have efficient systems and processes in place to save time?*No, and things often fall through the cracksSome processes help but there's still a lot of wasted effortYes, we have optimized systems to maximize productivityThis field is required.How would you rate your work-life balance?*I work a lot of hours and never seem to switch offI work an average amount and take some time offI have lots of time off to pursue my hobbies and look after my personal wellnessThis field is required.TeamAvailable values for Topic 5Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. How strong is your team for current and future plans?*Not aligned - we need different skills and perspectivesGetting by for now but gaps exist for growthStrong and aligned - we have the talent needed to succeedThis field is required.TaxAvailable values for Topic 6Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Are you aware of upcoming tax liabilities and prepared to pay them?*No, I just pay what the accountant says when dueI set some funds aside but am unsure if it will cover taxesYes, I receive forecasts to plan for and meet tax obligationsThis field is required. Key NumbersAvailable values for Topic 7Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you receive regular financial reports and KPIs?*No, I rely solely on year-end summariesI get some reports but don't fully understand themYes, I get useful reports/KPIs to gauge real-time performanceThis field is required.Exit/LegacyAvailable values for Topic 8Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you have a clear exit strategy to maximise business value?*No, I have not thought about an eventual exitI have some general ideas but no specific planYes, I have a detailed exit strategy to achieve my goalsThis field is required.In a couple of words, what's your biggest financial based goal over the next 12 months?*E.g. doubling my revenue This field is required.In a few words, please explain why you want to achieve the goal of ""?*E.g. Spend more time with my children This field is required.Final Details*One final step before we email you through your PDF report which includes: Your score... Your key areas of improvement Quick suggestions to improve each key areaYour personalised report will be emailed to you along with relevant tips supporting your score. View our Privacy Policy * Last * * This field is required.Identify the lowest topic numberDo not edit me. Showing the {N} lowest Key Areas of Improvement LOWEST(N) ~> LOWEST(2) HIGHEST(N) ~> HIGHEST(2) AND Check to is Total number of Highest / Lowest keys wanted to show on Appearance tab OR: use MIN / MAX and check to is Identify the lowest topic number on Appearance tab Topic 1 GapDo not edit me. Topic 2 GapDo not edit me. Topic 3 GapDo not edit me. Topic 4 GapDo not edit me.Topic 5 GapDo not edit me.Topic 6 GapDo not edit me.Topic 7 GapDo not edit me.Topic 8 GapDo not edit me.Topic 1 Yes Most ImportantDo not edit me Topic 2 Yes Most ImportantDo not edit me Topic 3 Yes Most ImportantDo not edit me Topic 4 Yes Most ImportantDo not edit me.Topic 5 Yes Most ImportantDo not edit me.Topic 6 Yes Most ImportantDo not edit me.Topic 7 Yes Most ImportantDo not edit me.Topic 8 Yes Most ImportantDo not edit me.AI_GeneralSummaryAI_TopStrengthAI_KeyAreaOfImprovementAI_RecommendedServiceTopic 1 Key Area of Improvement<p class="topic-title"><strong>Data Precision</strong></p><p>As a business owner, having accurate data is the first and most important step in understanding your business finances. </p><p>Accurate and up-to-date financial records provide the necessary visibility to steer your business effectively. </p><p>Cloud-based bookkeeping ensures real-time insights, offering control and confidence in financial management. </p><p>Embrace regular bookkeeping practices and transition to cloud-based solutions for immediate access to financial data. </p><p>This proactive step ensures a clear overview of your business's financial health, fostering informed decision-making.</p>Topic 2 Key Area of Improvement<p class="topic-title"><strong>Planning</strong></p><p>As the popular saying goes “Fail to Plan, Plan to Fail” Future Planning is the compass guiding your business towards success. </p><p>A detailed business plan is instrumental in translating your business aspirations into actionable steps, providing a roadmap for growth and resilience. </p><p>Develop a comprehensive 3-way business plan, incorporating profit, cash flow, and balance sheet projections and use this to compare to actual performance to aid your key decisions. </p><p>Regularly revisit and re-forecast the plan to align with your evolving business landscape, ensuring strategic goals remain achievable. </p><p>Lilley and Co can work with you to prepare a detailed business plan and regular re-forecast based on actual data and changing goals to give you an essential tool for managing your business success.</p>Topic 3 Key Area of Improvement<p class="topic-title"><strong>Cash Flow</strong></p><p>Cash Flow management is the lifeblood of your business, ensuring liquidity for daily operations and unforeseen challenges. </p><p>A robust understanding of your cash position is vital for sustained financial health. </p><p>Establish separate accounts for taxes and overheads, actively manage debtors, and cultivate a cash reserve for emergencies. </p><p>Consistently monitor and optimise your cash flow to enhance financial stability.</p>Topic 4 Key Area of Improvement<p class="topic-title"><strong>Time</strong></p><p>Effective Time Management empowers business owners to focus on strategic priorities, driving efficiency and productivity. However, running a business can be demanding, and it's easy to fall into the trap of trying to do everything. </p><p>Over time, neglecting work-life balance can lead to burnout and decreased productivity. </p><p>To maintain a healthy work-life balance, it's crucial to allocate time wisely, not only for business tasks but also for personal wellness and enjoyment. </p><p>Implement time-tracking systems, delegate tasks based on priority to your team, and concentrate your efforts on activities that contribute significantly to your business's success. </p><p>Prioritise time off to engage in activities you enjoy, no matter how busy you are. Thoughtful time management that includes a balanced approach to life enhances overall business efficiency.</p>Topic 5 Key Area of Improvement<p class="topic-title"><strong>Team</strong></p><p>Building the right Team is imperative for business success. </p><p>With the right team in place you, as a business owner can remove yourself from the detail, concentrate on the bigger picture and develop your business to give you the lifestyle you want. </p><p>Getting the right team in place is hard work and once you find the perfect employee it’s important to keep them. </p><p>Consider flexible working to ensure team retention – the hardest challenge for many business owners is replacing key members of the team when they have decided to move on. </p><p>Regularly assess team dynamics and skills. </p><p>Invest in training opportunities to nurture growth within the team. </p><p>Foster an environment of collaboration and continuous improvement, ensuring the team remains adaptable and motivated.</p>Topic 6 Key Area of Improvement<p class="topic-title"><strong>Tax</strong></p><p>A clear understanding of your business and personal tax obligations is integral to long-term financial success. </p><p>As a business owner, it is impossible for you to keep up to date with the constant changes to tax law so it’s important to have the right tax partner who can work hard to minimise your tax liabilities. </p><p>Regular tax forecasts will help you to keep on top of your obligations – by setting aside dedicated funds for taxes in a separate bank account, exploring available tax-saving opportunities, and staying informed about changes in tax regulations for proactive decision-making.</p>Topic 7 Key Area of Improvement<p class="topic-title"><strong> Key Numbers</strong></p><p>Key Numbers provide real-time insights into business performance, facilitating informed decision-making and proactive responses to challenges. </p><p>Regularly monitoring key metrics is essential for maintaining a resilient and adaptable business. </p><p><strong>Top Tip:</strong> </p><p>Implement regular management accounts and KPI reports. </p><p>Utilise these tools to identify areas for improvement and take prompt action. </p><p>Stay vigilant about your business's key numbers to drive continuous growth and success.</p>Topic 8 Key Area of Improvement<p class="topic-title"><strong>Exit/Legacy</strong></p><p>Exit Planning is an often overlooked but essential to think whether you eventually plan on selling, retiring, or embarking on a new venture. </p><p>A well-defined exit strategy ensures control over the business's legacy and ensures maximum value for your business should you decide to sell. </p><p>Regularly review and update your exit strategy to ensure it aligns with your evolving business and personal goals. </p><p>Lilley and Co can work with you to have a robust exit strategy - even if you don’t plan to sell for some years, it’s never too early to think about the next stage for your business.</p>Call to action on PDF report and Email Notification<p>Just by answering these questions, you have started to think about the potential ways to improve your business financials.</p><p>Why not <a href="https://calendly.com/trudi-lilleyandco/discoverycall">book a discovery call with us here</a> to chat about how we can help you move your business forwards.</p>Topic 1 Detailed Text for 0-33%<p>d</p>Topic 1 Detailed Text for 34-66%<p>d</p>Topic 1 Detailed Text for 67-100%<p>d</p>Topic 2 Detailed Text for 0-33%<p>d</p>Topic 2 Detailed Text for 34-66%<p>d</p>Topic 2 Detailed Text for 67-100%<p>d</p>Topic 3 Detailed Text for 0-33%<p>d</p>Topic 3 Detailed Text for 34-66%<p>d</p>Topic 3 Detailed Text for 67-100%<p>d</p>Topic 4 Detailed Text for 0-33%Topic 4 Detailed Text for 34-66%Topic 4 Detailed Text for 67-100%Topic 5 Detailed Text for 0-33%Topic 5 Detailed Text for 34-66%Topic 5 Detailed Text for 67-100%Topic 6 Detailed Text for 0-33%Topic 6 Detailed Text for 34-66%Topic 6 Detailed Text for 67-100%Topic 7 Detailed Text for 0-33%Topic 7 Detailed Text for 34-66%Topic 7 Detailed Text for 67-100%Topic 8 Detailed Text for 0-33%Topic 8 Detailed Text for 34-66%Topic 8 Detailed Text for 67-100%Topic 1 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 2 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 3 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 4 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 5 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 6 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 7 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 8 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Testimonial 1<p><i>Testimonial here</i></p><p>- Person's name and Business</p>Testimonial 2<p><i>Testimonial here</i></p><p>- Person's name and Business</p>Overall Total NumberAdd in ALL questions below. This will simply add up all questions and give a total number of points for all. Overall Current PercentageCreation note: Change "40" to the number of total points available in this quiz. E.g. Total of 6 questions is 4x6 = "24". Total of 8 questions is 4x8 = "32". etc All topics have 100% scored - MessageDont change Label Final score is LowDo not edit me. Final score is MediumDo not edit me. Final score is HighDo not edit me. Key Area(s) of Improvement TitleLowest Scoring Topic TitleHighest Scoring Topic Title