'10 Minute Tip' by Annie Thompson - Business Growth Specialist - 7am until 9:30am
Annie Thompson is a business growth specialist with 15 years of hands-on experience working directly inside UK businesses to fix the things that stop them growing.
She has worked across a wide range of industries. Annie helps owners get proper visibility of their numbers, their operations and their time. They can use that clarity to build businesses that work the way they actually want them to.
Annie is the creator of the GROWTH Method, a six-pillar framework covering Goals, Revenue and Expenses, Operations, Wealth, Time and Happiness. Growth Method is designed specifically for business owners who have built something real but know it could be running better. She is currently writing a book on the GROWTH Method and has worked successfully with business owners turning over £300k and above.
Annie works really well with business owners and directors of established businesses, ideally turning over £300k and above across any industry. She also works with for employed professionals who manage budgets, run departments or are considering starting their own business. The sweet spot is anyone who is responsible for the financial performance of a business and suspects they could be getting more out of it than they currently are.
Annie will offer every attendee a free session worth £250 to go through their own numbers together, where they get a second pair of eyes on the part of their business most owners never show anyone.
Booking link: calendly.com/650ned/discovery
About the conversation:
Essential questions every business owner should be asking themselves every single month, but almost none do.
Most business owners are using their P&L wrong
The profit and loss report is the most important document in your business, but most owners only look at the bottom line and move on. Annie Thompson will show you how to read your P&L as a decision making tool rather than a report card. That shift alone can change how you run your business month to month.You are probably paying for costs that crept up without you noticing
In almost every business Annie has worked with, there are between three and eight cost lines that have increased without a conscious decision to increase them. Annie will walk you through exactly how to find them, what they typically add up to, and how quickly you can recover that margin.Not all revenue is equal, and most owners are focused on the wrong part
Turnover is not profit, and the part of your business that feels most important is often not the most profitable. Annie will explain how to identify which of the revenue streams is actually generating the most margin and how to make sure you are putting your time and energy in the right place.Your balance sheet tells you what you have actually built
Most business owners focus entirely on the P&L and ignore the balance sheet, leaving it to the accountant. Annie will explain the difference between generating income and building lasting wealth. Understanding your balance sheet is one of the most important shifts a business owner can make.This is the first thing Annie does when she works with any business. In 15 years Annie has never walked into a business that has already set this up properly. The principles behind reading the numbers, understanding where the money is going and making deliberate decisions about costs and revenue apply to every business regardless of size. It also applies to anyone managing their own personal finances too. Annie uses the same framework in her own business and personal life. It has saved her from significant financial pain more than once.
