The 7 Financial Levers
Release Date: 05/09/2022
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On this episode of ScaleUp Radio, we have a great presentation and panel discussion, all centred around The 7 Financial Levers.
You will have heard us talking about the Power Of Small Change in previous episodes. In fact, there’s a link to the episode all about the Power Of Small Change in the show notes.
Briefly, the Power of Small Change is focusing on marginal improvement within your business; small and simple actions over a period of time, having a cumulative effect.
The 7 Financial Levers are one of the tools that we use to identify a small change that we can enact, specifically within the cash or financial area of the business.
The good thing, you don’t need to be a financial expert to understand these levers, they’re very simple concepts that you can discuss them with your team, or trusted network. I’ll explain more about this during the episode.
We’ll also be covering:
- The process of deciding which cash lever to pull, and at what time - and what benefit, or small improvement that will bring about in your business
- Why the length of time that it takes for clients to pay us - or how long we give for the clients to pay us - should be reviewed regularly.
- Why discounting is generally only a good thing for the client, rather than benefitting the business owner in the long term.
You’ll also hear from Dave Perrigo from Perrigo Consultants, who will give some insights into the power of the 7 Financial Levers, and the effect that they have had on his business.
Finally, there’s a panel discussion with a group of business owners about the 7 Financial Levers and the way that they all use it within their own businesses; the challenges that they’ve faced implementing the 7 Levers - and how they’ve overcome them.
This is an incredibly valuable episode for any small business owner, and I know that you’ll find something here that you can immediately put into practise in your own scale up journey.
The Power Of Small Change:
For information regarding any of the tools mentioned in this episode, please email [email protected]
David Perrigo can be found here:
Business Owners on the panel discussion:
Matt Busby - The Name Label Company
Richard Cox - Langley Business Systems
Jeremy Strong - Invoco Telecoms
Faith Guest - Tools of the Trade
Peter Chatterley - Talent Hackers
Stuart Avis - Audacious Creative
Graeme Thurman - Citizen Communications
Stripe - https://stripe.com/
Futurli - https://www.futrli.com/
GoCardless - https://gocardless.com/
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