Helping entrepreneurs stay on track financially

Helping entrepreneurs keep their finances on track has been Hirsch’s recent goals.

Hirsch’s executive director Margaret Hirsch and business coach, Marlene Powell from ActionCOACH have been hosting Entrepreneur Workshops.

Hirsch’s PRO Chantelle du Plessis said speakers who started the ball rolling on the Cash Flow Is King topic were FinFind founder and CEO Darlene Menzies and Marlene who worked in finance before buying her ActionCOACH franchise 12 years ago.

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“Speakers for July 3 were Hirsch’s managing director Paul Brown, a previous lecturer of economics before joining the company 15 years ago, and chief buyer Nicole Capper, who has a solid business background, runner-up for Survivor and was also crowned Mrs South Africa in 2018.

Darlene explained how important money flow is in a business. She asked entrepreneurs to consider where they are sitting in their finances.

Darlene added the only way to keep on top of cash flow is to do the numbers.

“It’s all about having those numbers at your fingertips. Find an accountant that talks your language and make sure you understand the system they are using.”

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She also said if entrepreneurs are not on top of their numbers, they could be paddling along happily and not see the cliff coming, which could be the end of their business.

Marlene spoke about simplifying business and sticking to what they know, which should enable managing money correctly. She said business owners need to test and measure their business.

“You need to know how much is coming in and how much is going out. You need to make sure you have monthly management accounts are in place.”

She added if entrepreneurs steer away from finance, they won’t know what is happening in their business. “Find out how profitable your clients are and if they are they help grow business.

“If you get the basics right everything comes right.”

Marlene pointed out entrepreneurs need to know their numbers to be on top of business. Margaret rounded off the talk with inspirational advice. She told the entrepreneurs to think positively and draw from the courage inside them.

“Make a point of helping someone in need and see what a difference it makes in their lives and your own.”