Financial and Lifestyle Freedom for UK Business Owners
562 episodes - English - Latest episode: about 1 year ago - ★★★★★ - 3 ratingsFinancial and Lifestyle Freedom for UK Business Owners
Profit First Professional, Chartered Accountant and Small Business Growth Strategist, Annette Ferguson, teaches UK small business owners and entrepreneurs how to achieve both the financial and lifestyle freedom they crave.
Tune in weekly to learn money hacks and business tactics so you can build a dream team, serve your clients better, and ultimately take home more money.
Annette and her guests give no-nonsense finance strategies and profit-increasing tips.
Subscribe today to maximise your profit, find the hidden wealth in your business, and achieve financial and lifestyle freedom through the business that you have!
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Episodes
How to Retain More Clients by Understanding Your Churn
April 24, 2023 08:00 - 7 minutes - 9.05 MBIf you've observed a decline in the frequency of one or two customers purchasing your products or services, it may indicate that they have churned. While most businesses face churn, it's essential to keep track of it. Research suggests that retaining existing customers is more cost-effective than acquiring new ones. In this episode, Annette will provide you with some useful tips to prevent churn in your business Here are a few insights you’ll hear in today’s show… What is ‘churn rate’ and...
My Morning Routine
April 21, 2023 08:00 - 8 minutes - 7.87 MBAs a business owner and a mother of two, my morning routine has to involve my family. I value family time, so I'm always there to help my children get ready for school and eat breakfast together. I've tried the "get up at 5 am and get your day done by 11" routine, but it's not sustainable for me. It's crucial to design a morning routine in the context of one's family and how one wants their family to operate. I usually start my workday after my children leave for school. I review my calend...
How to Understand if Trade Debtors Are Damaging Your Business
April 17, 2023 08:00 - 8 minutes - 10 MBSimply having numerous customers who owe significant debts does not necessarily equate to a successful business. In fact, it can be detrimental, particularly to the cash flow. Therefore, although offering credit to customers can be beneficial, small business owners should understand the potential negative impact that trade debtors may have on the company's stability. Here are a few insights you’ll hear in today’s show… Steps to manage trade debtors: 1st Step - Understand your payment term...
My favourite motto
April 14, 2023 08:00 - 9 minutes - 8.52 MBToday's episode is about my favourite motto: trust your gut and understand the data. I explain the importance of both trusting your intuition and analyzing data when making business decisions. Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at [email protected] and join our Facebook group https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on al...
Become Obsessed With Eliminating Bottlenecks in Your Business. Hint: That Might Be You
April 10, 2023 08:00 - 7 minutes - 8.29 MBThere are several bottlenecks business owners face and need to overcome in order to scale and grow their business to successful fruition. It is often said that some business owners themselves are the bottleneck of their business. That is why it is important to look into yourself and see what’s hindering you from unclogging the bottlenecks in your business. A business owner needs to be open to feedback because being at the center of the business may mean not seeing what’s in the hindsight....
Pricing and the cost of living crisis
April 07, 2023 08:00 - 18 minutes - 17 MBIn this episode, I discussed the current economic climate of slow wage growth and high inflation leading to the cost of living crisis situation. You will hear how this impacts businesses and why it is essential to understand the situation even if you are in a B2B environment. I suggested ways to navigate pricing and revenue strategy in a declining economy, such as cost-cutting, reducing waste, and streamlining processes to be more efficient with operations. Additionally, you will learn to...
3 Shifts to Move From 5 to 6 Figures
April 03, 2023 08:00 - 7 minutes - 8.74 MBIt is a common struggle for most small business owners to move up from the five-figure to six-figure revenue in their business and oftentimes, they can’t seem to move out of a revenue plateau being experienced in their business. As business owners you need to be able to pivot and shift in order to create space to move up the next level. Listen to this episode and learn from Annette the three shifts necessary to create the needle mover in your business. Here are a few insights you’l...
The Hardest Lesson I’ve Had to Learn as a Business Owner
March 31, 2023 08:00 - 14 minutes - 12.9 MBIn this episode of from a Facebook Live, Annette shares her insights on the hardest lesson she had to learn as a small business owner. She discusses her experiences with hiring and firing, time management, and the importance of cash management in a business. Annette explains that while she struggled with hiring and firing, she learned that ultimately, the buck stops with the business owner. She emphasizes the importance of taking responsibility for your business in order to achieve success....
Breakthrough the Revenue Plateau
March 27, 2023 08:00 - 8 minutes - 10 MBExperiencing a plateau in business revenue can be a daunting and discouraging experience, particularly when it appears to be challenging to overcome. This is a common situation that many small business owners face, but the positive news is that there are effective approaches to break through these plateaus. As a business owner, it's critical to remain receptive to change and seek out strategies to overcome these challenges, which Annette will discuss in this episode. Here are a few insig...
What I’ve invested in to Grow my business (and what have been money leaks in hindsight)
March 24, 2023 08:00 - 18 minutes - 16.8 MBToday's podcast is from a Facebook live where Annette Ferguson discusses her experiences with investments and money leaks in her business journey. She shares the good and bad choices she's made and offers valuable advice to help others avoid making the same mistakes. Money leaks in business investments: a. Investing in complicated CRM systems that are not suitable for the stage of the business b. Spending money on branding too early in the business journey c. Investing in multiple progra...
Pricing Red Flags
March 20, 2023 08:00 - 6 minutes - 7.33 MBAs a small business owner, you might fall into the trap of three common pricing mistakes in your efforts to attract or retain clients. Unfortunately, the outcome of such actions can lead to losing clients instead. By listening to this episode, you can gain insights on these three pricing errors and learn how to avoid them effectively. Here are a few insights you’ll hear in today’s show… - Red Flag #1 - Pricing based on cost and not on the value you offer - How to avoid this red flag? - R...
Why You Should Only Ever Compete With Yourself?
March 15, 2023 08:00 - 7 minutes - 8.06 MBLet’s face it, running a business is really daunting and looking at the direction of other businesses for comparison or trying to copy what they have done will bring you out of focus in your own business. When you are out of focus on your own business, this can be detrimental to your own success. Listen to this episode and hear from Annette her reasons why it is not worthwhile to compete with others and what you should do otherwise. Here are a few insights you’ll hear in today’s show… ...
How I Banish Unproductive Time in My Business
March 06, 2023 08:00 - 18 minutes - 16.6 MBTaking it from Annette’s personal experience, especially when you are starting with your business, there will be use of time that is not going to be productive for you and the business. In these Training Tuesday live sessions, Annette will share how she is able to cut the unproductive time that is taking her time which should have been for productive use for the success of her business. Here are a few insights you’ll hear in today’s show… Tracking time is the first important step to ...
Why There Is Money in Knowing Your Ideal Client
March 03, 2023 08:00 - 7 minutes - 9.14 MBKnowing who your ideal client is beneficial to you as a business owner because you can save time, money and effort with a targeted market. Of course there are some industries where they can cater to all kinds of clients but for most small business owners, you need to identify who they are so that you can tailor your products, services and product development for them. Demographic information plays an important part in identifying your ideal client because knowing their age, location, inco...
How to Be Consistently Visible to Increase Profit
February 27, 2023 08:00 - 9 minutes - 11.3 MBDo you know why big companies consistently buy air time for their advertising in TV programs and even in online shows on YouTube? They do this so that people will remember their brand, causing more people to purchase more from their business. Now for small businesses, it may not be as big in paid advertising for big companies, because needless to say, there has to be a budget for that, but other than paid advertising there are various ways to put your brand in front of potential buyers, c...
Why Your Background Doesn't Determine Your Wealth
February 24, 2023 08:00 - 8 minutes - 9.75 MBUsually when you are a small business owner, people are quick to judge that you came from a working class family or you came from poverty. In that case, however, that is not something to be ashamed of, instead it is something to be proud of. It is proof that you are exerting your best effort to uplift your circumstances. And, mind you, there are a lot of small business owners who are successful in their entrepreneurial pursuits. To be successful, one of the actionable steps is in your m...
How to Make Money Without Losing Yourself
February 20, 2023 08:00 - 7 minutes - 8.88 MBWhen you have a small business, you want to make sure that you are overseeing your business personally and probably doing so many tasks that can completely overwhelm you. Before you know it, you have totally forgotten how to take time out for yourself, to recharge or replenish your energy. When that happens a lot, it can be the cause of sickness and can be damaging to your mental health, as well. In today’s episode, Annette will walk you through her simple strategies to prevent burnout ...
Simplify Your Path to Profits
February 10, 2023 08:00 - 13 minutes - 12.6 MBAs a small business owner, it is very easy to be sidetracked in the day to day operations of your business, because being small you may be doing several capacities in your business. This often leads to forgetting important aspects of your business such as customer service, marketing or keeping track of your finances. So if you are a business owner and you really want to be able to realize profit and take-home pay, you should listen to this episode. Here, Annette will share her strategies...
Automate Growth in Your Business
February 06, 2023 08:00 - 13 minutes - 15.2 MBImplementing automation in your business processes can benefit a lot for your business in terms of productivity and efficiency. Automation is highly encouraged especially on tasks that are done on a repetitive cycle, on tasks that aid in marketing campaigns, improve on customer satisfaction and the like. However, before you go into automation there are many things to consider, such as which tools are really necessary, as well as the budget for these new tools and software. There has to...
Conquer Overwhelm and Get REAL Results
February 03, 2023 08:00 - 7 minutes - 8.9 MBRunning a business can overwhelm us and if we don’t know how to combat it, the results can be detrimental to your business. You as the business owner are the most important asset of the business and as such must prioritize your well being, to keep up with the daunting tasks of making your business afloat. In this episode, Annette will give us insightful strategies to conquer overwhelm and by implementing these tips, you can reduce stress, stay present in the moment and focus on what you c...
If I Had £1,000 to Start a Business, Here’s Where I’d Spend It
January 30, 2023 08:00 - 7 minutes - 8.49 MBWhen starting a business, you have to make sure that the money you’re spending on, is what you really need to get you moving. Say if you have £1,000 that you can spend to start a business, you don’t want to spend money on things that are not cost efficient. Start by understanding your business concept and who your target customers are. In this episode Annette will give her recommendations on where to allocate your £1,000 and also, what things you should not spend money on just yet. Here ...
Guarantee Your Goals
January 27, 2023 08:00 - 6 minutes - 7.36 MBWe can all set goals, but if we don’t take action on those goals, it will remain just goals. For you to achieve your goals and guarantee that you will succeed, there are four key strategies that you can follow, as recommended by Annette in this episode. Here are a few insights you’ll hear in today’s show… How do we manage to hit our goals? (...Why is motivation important to achieve your goals?) Why do you need to break down your goals into manageable steps? How can you hold yourself acc...
Bounce Back From Failures
January 25, 2023 08:00 - 7 minutes - 8.5 MBAll businesses go through some kind of failure many times over. Bigger and well known companies go through the same and in a much bigger context of failures. The key here is to have that resilience and never give up. In this episode, Annette will share her top eight tips that she used when she experienced failures in her business. Failures are normal, make it your stepping stone to success! Here are a few insights you’ll hear in today’s show… Top Tips on how to bounce back from failure...
Top 5 Pillars for Success
January 20, 2023 08:00 - 6 minutes - 7.14 MBWhether you are just starting out or already operating your small business, these tips from Annette will prove to be helpful as you gear up for your business success. Not only are they practical, but they will be your guide in almost all aspects of your business and the good thing is, you can apply those pillars for success in your personal life, as well. Enjoy listening! Here are a few insights you’ll hear in today’s show… Why does self-confidence serve as the foundation of success? H...
Rituals of 6 and 7 Figure Business Owners
January 16, 2023 08:00 - 5 minutes - 6.25 MBBusiness owners have their personal and business life, too and when they don’t know how to properly allocate their time, most likely either the business or family gets affected. In this episode, Annette will show you some of her rituals that she does in order to increase her productivity and still have time for activities for her family and kids. You can adapt these rituals to create whatever success looks like for you. Here are a few insights you’ll hear in today’s show… Simple Ritu...
How I Plan My Strategy to Make Sure I Hit My Money Goals
January 13, 2023 08:00 - 6 minutes - 5.88 MBAll of us have money goals and we want that there is enough cash flow for our take home pay that we can spend on necessary things, save up for a planned vacation or for a big purchase. There are five strategies that Annette will share on how she is able to hit her money goals. Being disciplined with your spending habits is one of them. For sure, no goal is impossible if proper strategies are put into place. Here are a few insights you’ll hear in today’s show… Step one in the strategi...
How Do I Maximise My Time During Slow Seasons of Business
January 09, 2023 08:00 - 6 minutes - 6.92 MBAs I have always said, there will always be busy and slow seasons in a business and how you make use or manage your time in those seasons can greatly affect your business growth. It is an opportune time during the slow season to take a stack of what things you can focus on, for example, creating a schedule and sticking to it. Or you can take care of yourself so that you will have the energy required when the busy season steps in. When you prepare during your slower seasons, you can set yo...
How Can I Overcome Peaks and Valleys in My Income
January 06, 2023 08:00 - 7 minutes - 6.6 MBAs a business owner, it is really hard to be looking at your business experiencing highs and lows? It is not a very good feeling and perhaps you may be contemplating whether to push forward or close the business all together. Don’t give up too soon because there are remedies that you can do to overcome those peaks and valleys. In this episode, I will give you six mindful strategies that will help your revenue to be consistent. Highlights of this episode: - Why is getting familiar wit...
How to Intentionally Create Freedom, One Decision at a Time
January 02, 2023 08:00 - 8 minutes - 7.61 MBAs business owners, we all have a natural desire for freedom. Whether it's financial freedom, freedom from stress and anxiety, or the freedom to pursue our passions and interests, we all want to feel a sense of autonomy and control over our business. But how do we go about achieving this freedom? Listen to this episode to get some steps you can take to do just that. Highlights of this episode: - Make a list of things that are important to you as a small business owner - How to create...
Remote And Mobile Teams 101
December 28, 2022 08:00 - 8 minutes - 8.14 MBAs a small business owner, you know that a remote team can be an essential part of your company. In this episode, I'm going to show you how to manage a remote team and get the most out of them. Highlights of this episode: How remote teams can be a key to your success What is the limit to what a remote team can achieve The importance of regular check-ins with remote team members How do you build trust between the members Resources: If you’re struggling to understand the accounting for...
How to Start Making Then TAKING 6 Figures
December 19, 2022 08:00 - 7 minutes - 7.08 MBIn this episode, I'm going to share with you the steps you need to take in order to make six figures and then bring that money home. As I mentioned, this is a big claim, but one that many gurus make. I can back it up with the actual steps necessary for success. Highlights of this episode: How to start making and then taking six figures. Why you need to figure out what your business stands for. A strategic plan helps keep you on the course, and alerts you of potential pitfalls. How do yo...
How To Create Predictable And Profitable Growth For Your Business
December 12, 2022 08:00 - 6 minutes - 5.65 MBI'm sure you've read Jack Welch's quote, “If you have any kind of success in this business, it'll be a run away train.” He was talking about the growth phase of a company. When exponential growth becomes the new normal and you can't keep up with the pace. Well, creating predictable and profitable growth for your business isn't reserved for Fortune 500 companies and startups. You can do this too, whether you're an entrepreneur or work at a small business. And I'm going to show you how it's do...
4 Tips That Will Help You Grow Your Business
November 28, 2022 08:00 - 6 minutes - 6.16 MBGrowing your business, regardless of its size, may be challenging. This does not have any special formula and cannot be done overnight. It is an ongoing process that must be maintained with hard work, concentration, and determination. There are things that you can do to grow your business, and Annette will share four tips that can help you. You can implement these tips in your business. Grab a pen and paper, take notes, and start growing your business. Enjoy! Highlights of this episode: F...
How to Get Real Result in Your Business by Conquering the Chaos
November 25, 2022 08:00 - 9 minutes - 11.1 MBWhether you are a startup or an established business, you will face challenges. You will experience being trapped in your business and may struggle to keep yourself moving. Now, the real question is, how do you make the most of it? Annette will share with us how to get real results in your business by conquering the chaos. First, stop doing everything by yourself. Start to delegate tasks to other people. Focus on one task or break those large projects into smaller goals. Take it one step at...
5 Steps That You Can Take To Get Things Moving
November 21, 2022 08:00 - 5 minutes - 5.97 MBGetting things going is one of the many things that people struggle with. Creating momentum, especially in business, becomes difficult as it progresses. But it is not as difficult as you might think. Being organized and beginning to set clear goals for your business is the first critical step in getting things moving. Annette will talk about how to create momentum in your business. She will show us how it is done, leading to success. It's best to grab a pen and paper and take notes on Annet...
Six Simple Steps to Control and Reduce Your Inbox Stress
November 11, 2022 08:00 - 9 minutes - 11.2 MBIn this digital age, email, text messaging,and the use of other messaging applications are some of the means of communication. It is important to be organized and be on top of those messages that come through. Annette will share with us today six simple steps on how to control your inbox and to reduce stress on what comes along with it. This is one of the significant steps that you have to do to fully maximize your time because checking and responding to messages can take so much of your ti...
Redefining Success
November 04, 2022 08:00 - 9 minutes - 10.5 MBSuccess is a very subjective term, and its meaning differs for different people. Annette will share with us what success means and how you can achieve it in your own business. First, you have to define what success really means to you in order to create a path leading to your goals. Second is setting SMART goals: specific, measurable, attainable, relevant, and time-bound. Next, start creating your plan and sticking to it. Lastly, celebrate your accomplishments and even your small wins. Hig...
When Is the Right Time to Start a Business
October 31, 2022 08:00 - 8 minutes - 7.8 MBAre you planning to start your business? Having second thoughts? You are probably thinking if it is the right time for you to start a business. There are a few things that you need to consider before starting your journey in the business industry. One of which is when you have an idea for your business and when you feel passionate about it. Moreover, if you are ready to invest your money and time in building your business. Take the risk if you are really willing to start your business. Also...
How to Find the Right Business Model
October 28, 2022 08:00 - 9 minutes - 10.6 MBBusiness models are fundamental in all types of businesses. This should be the best fit for your business. In order to know what might fit in your business, you have to ask yourself some questions that answer what you are good at and what things you enjoy doing. It is important to answer those questions and allow yourself to capitalize on your strengths when choosing the right business model. Also, as a business owner, you must be flexible in making adjustments to your business model to adap...
How to Raise Your Prices and Increase Your Profits Without Losing Any Clients
October 24, 2022 08:00 - 8 minutes - 8.02 MBIn this episode, Annette will teach how to raise your prices and increase your profits without losing any of your clients. She will clear some of the misconceptions about increasing your rate such as people will not buy from you when you increase your price, and it does not always happen that way. There might be risk when you increase your price but it should not have any negative effect on you and your clients. There are certain things that you just need to consider and think thoroughly ab...
Leverage Time in Your Business
October 21, 2022 08:00 - 10 minutes - 9.8 MBTime is one of the most crucial elements in business that every business owner should fully grasp. Failure to understand the importance of time in business would cost a lot and it can cause you to fall behind your competition. If you want productivity in your business, proper time management is the key to excel in your game. Annette will discuss how important it is to use your time wisely. She will give 10 tips that you can implement in your business, how you can maximize your time, and be ...
How to Get Your Income Unstuck
October 14, 2022 08:00 - 9 minutes - 11 MBAs a business owner, you have to make sure that you are receiving your income regularly. This is a process that should be done with continuity so as not to be stuck on your business. With this, increasing your income will be done by being on the right track and deciding what will be the best for your business. In today’s podcast episode, Annette will get us through your income and how to increase your take-home. Also, she will give further details about other expenses that you make on your ...
Key Strategies to Avoid Becoming One of Those Failure Statistics
October 10, 2022 08:00 - 8 minutes - 10.3 MB80% of businesses fail in the first couple of years and beyond three to five years, statistics become worse. But the good news is that over 90% of Self Made Millionaires do so through their own business. There are risks in starting your own business that at some point either you will lose confidence or you come out strong to have your business up and running. It is not the smartest person in the room that gets to have a successful business but it is someone who is disciplined enough to spen...
How to Think Like a CEO to Grow Your Business Faster
October 07, 2022 08:00 - 5 minutes - 4.47 MBStarting your own business or owning a company does not stop there. You have to properly strategize on how you can grow and succeed in your business. As a CEO, you must have control over every aspect of your company. In today’s podcast episode, Annette will talk about how to think like a CEO to grow your business faster with the key things that she wants you to understand, and practice: a positive mindset, strategy in all aspects of your business, and understanding the data in your business...
Why It’s Important to Look at Pricing Regularly in Your Business?
October 03, 2022 08:00 - 10 minutes - 9.27 MBAppropriate pricing is important in your business as it may also be related to the value of the service or product that you offer to your client and prospects. This is one of the things that you have to decide in building your business because it can make or break what you have started. Annette will delve into pricing and specifically why it is important to look at your pricing on a regular basis in your business. Also, Annette will help you with how you can check your pricing with an exer...
What Does the Mini-Budget Mean for Small Business
September 26, 2022 08:00 - 12 minutes - 11.3 MBIn building your own business, there are things that you have to prepare. Your website, physical store, or office, hiring employees that will be an asset to your business, and so much more. On top of that, there should be your business budget. In today’s podcast episode, Annette will enlighten all of us about the news regarding the mini budget and what it means to small businesses. Highlights of this episode: The importance of a mini-budget for small businesses? What has today’s mini-bud...
You Drop Everything and Run Plan
September 23, 2022 08:00 - 8 minutes - 7.55 MBA business continuity plan is vital in every business. Creating a business continuity plan creates awareness and reduces risks for inevitable situations. A business owner must prepare this plan as it can practically help your business be prepared for different crises or emergencies, be it personal, family, community, or even globally like what happened during the onset of CoVid. Annette will give us her insight on how she does her drop everything and run-plan based on her recent experience...
Cashflow Must Do's
September 16, 2022 08:00 - 9 minutes - 8.26 MBCash is the lifeblood of a business and running out of it is the number 1 reason why businesses fail. Every business begins and ends with a positive cash flow. The cash flow determines the amount of money that goes in and out of your business. Annette will go through five cash flow must do’s in your business and remarkably be a successful business owner. The 5 must do’s in your business are structuring your payment terms, positive impact of leasing, cash flow forecast, pricing profitability...
Accounting Basics for Business: How To
September 12, 2022 08:00 - 21 minutes - 17.5 MBIf you want to start your own business, accounting is one of the vital things that you have to understand and apply. Or if you already have your own business established, are you certain that you did not leave anything? Do you already have all the data in your business? What really is financial accounting and what is its purpose? The main purpose of financial accounting is to report the financial performance of a business. It provides information to external parties such as investors, cred...
What Is the Difference Between Registered Office, Business Address and Service Address?
September 09, 2022 08:00 - 5 minutes - 4.71 MBIf you want to start building your own company, you must first understand the law and its regulations. One of which is having a registered office address to which all communications and notices may be addressed. It falls under Section 86 of the Companies Act of 2006. Aside from the registered office address, you might also hear the service address and business address. Do not be confused with all of these, Annette will share her knowledge about the difference between a registered office bus...