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Does your accounting need a makeover? (2/2)

Last week I wrote about why accounting matters and why it’s worth doing it the right way (tl;dr: poor accounting leads to bad decision making; can make getting an investment, a loan, or selling the company difficult or impossible; and can put you in legal trouble).

You may think your...

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Does your accounting need a makeover? (1/2)

The other day, I chatted to a seasoned CFO who was complaining about how badly managed some of the books she’s asked to come in and deal with are, and how impossible it is to make good financial and strategic decisions with bad numbers. It reminded me of my previous post about how strategic...

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Next year (annual planning, part II)

Last week’s newsletter was originally meant to have a quick, one-paragraph introduction before launching into a piece about annual planning. I wanted to acknowledge how uniquely hard it is to get started on this annual exercise this year; before I knew it, the intro had taken over and...

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This year (annual planning, part I)

Are you someone who thinks detailed annual planning, whether entrepreneurial or life-related, is a waste of time? A lot of people would probably say 2020 proved you right. The jokes write themselves.

In December 2019, I was just wrapping up a three-months-turned-six project at Deliveroo....

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Therapists versus CFOs, and taking advice from both

Starting a business requires a whole lot of intuition. The idea that people would stay in strangers’ homes instead of hotels, and even pay for the pleasure of doing so? That must have come from a pretty damn inspired place, if you ask me.

But what often happens very quickly at...

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Everything depends (a final word on financial statements)

If there is one type of answer I hate when I ask for a professional opinion, for example from a lawyer, it’s “it depends”. I know it does, goddammit, but I don’t want to learn about the entire universe of legal options. Just tell me what I need to know.

Still, I do find it...

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Am I burning through cash? (ask your cash flow statement)

Finally, my favourite – the Cash Flow Statement. Unlike P&L and the Balance Sheet, Cash Flow as a concept is super intuitive. Simply, it is money moving in and out of your company’s bank account, and we call that cash inflow and outflow. Positive Cash Flow means...

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Am I rich yet? (ask your balance sheet)

Last week I talked about how your P&L tells you whether your company made a profit or a loss. (And the week before, why you should care about financial statements as a founder.) This week – we’re talking about the Balance Sheet.

I like to use a personal finance analogy...

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Am I making money? (ask your P&L)

Following last week’s newsletter which hopefully helped to internalise why you, yes you awesome entrepreneur you, should keep reading Tiny CFO, I’m excited to share the first of a mini-series on financial statements.

A word of caution. Millions of pages have been written on...

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What the hell is going on (ask your financial statements)

A friend recently asked me how to structure a P&L. I started writing an article about that, then I realised I will first need to explain what a P&L even is. Then I realised I will also need to explain what financial statements are. So I deleted the whole thing and wrote something more fun...

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Math genius (not) needed

The other day, I talked to a founder who warned me about his lack of math skills. He had a degree in design – surely that means his ability to wrap his head around finance will be limited.

Many people think this. But it’s not really true.

The thing is, most of the “math”...

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Everything is a funnel (will people come to my party?)

Whenever I hear a founder worry about whether anyone will buy their product, it triggers my own anxiety – but not to do with anything business related. It reminds me of how I feel when I host a party, or you know, used to host, pre-Covid.

The thing is, I get pretty bad event-hosting...

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