When your business is service-based, pricing can seem to be very daunting. The price you charge for your services is one of the hardest decisions you make because setting a price that is too high or too high can limit your business growth. Worst, it can cause serious problems for your cash flow.    

In this episode, Annette will help you look at the two sides of pricing perspectives in order to get a win-win proposition for both you and your clients. Consider taking notes or even downloading this episode for later reference.

Here are a few insights you’ll hear in today’s show…

• Different pricing methods and the most effective pricing strategy for service-based businesses.
• The number crunching perspective - Examining your pricing by looking at the COSTS that needs to be layered in to deliver the service to clients.
• Why is examining pricing on a regular basis important?
• Pricing from the value perspective  - Examining your pricing by looking at the VALUE you are delivering to your clients. 
• Is it possible that you can deliver the quadrupled value for the doubled price?

If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected].

Resources:

Order The Profit Plan E-book

Book a call!

Profit First Checklist

PF for UK biz

Connect to Annette Ferguson:

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YouTube

Annette will speak about the different things in your life and how that plays out in reality. We may have some ideal situations in mind but understanding that there will be some point in time that we cannot achieve is part of the journey. What truly matters in our business is we keep making steps toward our dreams and progress in reaching our goals.

Here are the questions that came in during the live session …

- Different challenges that you may experience along the way.

- Understanding what is truly important in our business.

If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected].

Resources:

Order The Profit Plan E-book

Book a call!

Profit First Checklist

PF for UK biz

Connect to Annette Ferguson:

Facebook

Instagram

YouTube

Today, Annette will talk about time. It is one of the important matters for most people, especially people who are running a business, time freedom. Though financial help helps business owners but vast majority seeks freedom of time. There is no judgment on how you want to spend your life but being clear on what you want is truly important. 

Here are a few insights you’ll hear in today’s show…

- The importance of time.

- How do you allocate your time?

- Assessing how you spend your time.

If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected].

Resources:

Order The Profit Plan E-book

Book a call!

Profit First Checklist

PF for UK biz

Connect to Annette Ferguson:

Facebook

Instagram

YouTube

A double-entry system of bookkeeping helps businesses keep their books in balance. When recording a transaction, every debit entry must have a corresponding credit entry for the same amount, or vice-versa. Confused?

Now, this can be quite complicated in layman's terms but Annette made sure to explain these two accounting jargons very clearly. Don't let these accounting terminologies confuse you, using this podcast as a learning tool is extremely valuable.

Here are a few insights you’ll hear in today’s show…

• What are debits and credits? (...An example of the double entry bookkeeping on a furniture purchase, a tangible fixed asset.)
• How does debit and credit work when it comes to the Liabilities Account of the business?
• What effect does debit and credit have on Profit and Loss statements?
• A Cheat Sheet of how debit and credit works in the double entry bookkeeping.

If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected].

Resources:

Order The Profit Plan E-book

Book a call!

Profit First Checklist

PF for UK biz

Connect to Annette Ferguson:

Facebook

Instagram

YouTube

Annette wanted to have these Q&A sessions regarding Profit First because she wants to share how it has changed her life since she embraced the principles of Profit First.  These sessions offer so many valuable opportunities for you to learn and Annette will be happy to answer any questions you may have.  It is also possible that you may have the same questions as other people, but are hesitant to ask them.

Here are the questions that came in during the live session …

• Can you use Profit First with Xero or Quickbooks or any other bookkeeping packages?
• Why do we highly recommend having a separate VAT bank account?
• What is the best bank for Profit First in the UK?

Connect to Annette Ferguson:

Facebook - https://www.facebook.com/UKAnnetteFerguson/

Instagram - https://www.instagram.com/annetteandco_/

YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA

Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -

https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522

Could there be more things that you are not claiming as a tax relief, but should be? Definitely yes!

In this video Annette will walk you through several tax tip secrets for UK consultants and coaches. That means you pay less tax and you'll take home more of your income.  Listen carefully and start taking a stack of those things that can be deducted from your tax payments.

Here are a few insights you’ll hear in today’s show…

• Tax Tip number 1 - Make sure to adhere to your deadlines
• Tax Tip number 2 - Keep accurate bookkeeping records
• Tax Tip number 3 - Make sure that you claim for allowances that you are entitled to.
• Tax Tip number 4 - Use your capital gains allowance.
• Tax Tip number 5 - If you have savings, use your I.S.A. allowance
• Tax Tip number 6 - Use the dividend allowance including those of your family members.
• Tax Tip number 7 - Payment into a registered pension scheme can be a tax relief.
• Tax Tip number 8 - Consider employing a family member into the business..
• Tax Tip number 9 - Include a claim for use of home as office or work-from-home allowance.
• Tax Tip number 10 - Claim for travel expenses or allowance.
• Tax Tip number 11 - Claim for Trivial Benefits or the tax-free gift if you are an employee of your own limited company.
• Tax Tip number 12- Make sure to claim capital allowances on assets purchased for the business

If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected].

Resources:

Order The Profit Plan E-book

Book a call!

Profit First Checklist

PF for UK biz

Connect to Annette Ferguson:

Facebook

Instagram

YouTube

Cash flow problems in your business are not a good thing. That is why it is of utmost importance that you are able to calculate the cash break-even point of your business because that ultimately is what matters.

It is also important that you eradicate money leaks in your business so that you are able to generate a revenue that is achievable, ensure that your costs are in alignment, so that you are able to create good money to take home. 

Here are a few insights you’ll hear in today’s show…

• What is the break-even point in economics and accounting?
• Why is it better to calculate the cash break-even point for a business?
• How to calculate the cash break-even point in your business? (...What are things you need to consider on a monthly basis?)
• What do you need to do when you have already calculated the cash break-even number, but your sales number is much higher than what you can generate in a month?
• What is a money leak?

If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected].

Resources:

Order The Profit Plan E-book

Book a call!

Profit First Checklist

PF for UK biz

Money Leaks Youtube Video

Connect to Annette Ferguson:

Facebook

Instagram

YouTube

In life we do have plans for things we want to pursue and it is the same with business. Sometimes life lessons are the very same thing that you can also apply in business,  when things don’t go according to the plan. You can try harder, assess the situation or any given information available or you can maybe ditch the project and start over. As a business owner, it is very important to have access to data so that you can make informed decisions.

Here are a few insights you’ll hear in today’s show…

• Two reasons why Annette chose to talk about the topic.
• How would you handle business situations when things do not go according to plan?

Connect to Annette Ferguson:

Facebook - https://www.facebook.com/UKAnnetteFerguson/

Instagram - https://www.instagram.com/annetteandco_/

YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA

Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -

https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522

Running and any form of movement is very important because it is crucial to your mental health specially when you are running a business.  Running is that pause that every business owner needs  in order to reduce stress, be more productive and gain clarity to be able to make sound business decisions. So, be kind to yourself and clear your mind through running or if you can’t run, do some kind of movement like walking and stretching. 

Here are a few insights you’ll hear in today’s show…

• Annette shared about an interview she has done for another podcast.
• What is common about business and running? 
• Benefits of running or any kind of movement to your mental health. 
• Data is important in both business and exercises.
• Invitation to access Q&A sessions and other resources 

Connect to Annette Ferguson:

Facebook - https://www.facebook.com/UKAnnetteFerguson/

Instagram - https://www.instagram.com/annetteandco_/

YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA

Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -

https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522