Tag: erros financeiros

Dicas de Gestão

7 Financial Mistakes That Harm Your Business

To err is human and it is very likely that a manager, throughout his career, make some mistakes. However, there are financial mistakes that can be very detrimental to running a business and can even lead a business to failure. In today’s article we address the 7 financial mistakes that hurt your business!

Lack of constant analysis

It is essential these days to continuously analyze your business, because only then can you find problems before they materialize. Managers can no longer survive just with Excel sheets and reports with a few days. It is essential that the business is analyzed at the minute, because only in this way will be able to be always ahead of the competition. Business monitoring software like Multipeers is a growing need in today’s business because it allows you to analyze in a simple way everything that is happening now with your business.

Spend what you (still) don’t have

Hiring a debt with money that has not yet gone into the box is a very common mistake and should be avoided to the fullest. There is no guarantee that the customer will not be late in paying or if an unforeseen event will happen and you will need to invest in something more urgent.

Do not make a balance sheet

As companies grow, various investments are made and the company’s assets are growing over time. However, there is often no concern about knowing what one possesses at a given moment, eventually continuing to invest in disorderly ways. Having knowledge of the balance sheet helps the company whether it needs to continue to invest or whether, on the contrary, it should reduce its investments.

Lack of automation

Performing tasks manually that could be automated is a very common mistake. Using an ERP helps you optimize all processes, reducing costs and increasing productivity by reducing human error. The information of a company must be integrated, so that all the data is updated so that it is easier to make decisions.

Do not have KPIs

The financial area is one of the most relevant in any business and the use of indicators becomes essential. Using business metrics enables you to measure the outcome and verify that the stated goals are being met. Working without indicators is like being lost in a complex labyrinth without a map to guide you.

Mixing personal expenses with company expenses

It is a very common mistake among business owners, who usually use the company account to pay for personal expenses. This mistake is very detrimental to business as it completely changes the fixed costs of the organization and distorts its financial reality.

Focus only on sales

Sales are the ultimate goal of every business, but if you don’t pay attention to the other areas of the business, you may compromise your entire business. Administrative and human resource management are examples of areas that deserve to be treated with care. Good management of all departments of a company will reflect the financial results in the medium and long term.

Tecnologia e Gestão

The biggest financial mistakes that can ruin your business

Get to know the biggest financial mistakes that can harm your business

In the business world, the margin for error is very small. However, all managers eventually go wrong at some point in their lives and some of these mistakes can be fatal to the survival of the company. In this article we present you the biggest financial mistakes that can ruin your business.

Lack of discipline

Entrepreneurs initially control the company’s expenses and are disciplined with expenses. Over time and with the accumulation of work, they end up skulking in this field and accumulate budgets to approve and invoices to pay. It’s fundamental that every day the businessman take some time to dealing with these issues. In this way, work will flow more easily and there will be no accumulation of tasks.

Don’t pay all bills on time

Lack of liquidity often leads to delay of bills’ payment. This is a very common mistake because failure to pay within the set deadline will lead to greater problems in the future. At the level of suppliers, you may have difficulties in working with them later and at the level of Bank credits may obstruct access to credit in the future. The ideal is to use a software that allows you to keep track of all expenses in real time, so as not to let you accumulate accounts.

Invest in the wrong areas

As a rule, entrepreneurs have enough capital to invest, but often apply money in areas of little relevance to the company. There is also the idea that it isn’t necessary to invest in marketing, for example, and this leads to the company’s products or services being little publicized, resulting in low sales and few profits. This mistake happens a lot when the entrepreneurs don’t properly research the market and end up not knowing the sector of activity in which they are, making mistakes that may be irreparable in the future.

Lack of planning for low seasons

All businesses have prosperous times and less happy times and you have to be prepared to face them. Many companies don’t prepare adequately for the times when they are going to have less profits and they forget that even at these times there are financial commitments that have to be fulfilled (salaries, payments to suppliers, payments of services, among others). Companies should always have in mind that they need to have a comfortable capital so that they can face the bad moments with calm and tranquility.

Poor time management

Time is money. This is especially true in the area of ​​business, and entrepreneurs often spend more time in meetings than they actually need. A meeting should happen only when there is a clear objective and when you know clearly what you want to decide at that moment. Meetings are important, but in some companies they happen too often and take too long, which leads to productivity declines that impact the company’s in the short and long term.

These are the biggest management mistakes made in companies. Dealing with so much information and responsibility isn’t easy, but it’s essential that the entrepreneur doesn’t get lost in the middle of all the tasks he has to do. The good health of the company depends on your organization and management ability!