{"id":7161,"date":"2021-03-18T10:41:15","date_gmt":"2021-03-18T10:41:15","guid":{"rendered":"https:\/\/www.sage.com\/en-ie\/blog\/?p=7161"},"modified":"2026-01-07T13:55:33","modified_gmt":"2026-01-07T13:55:33","slug":"manage-your-finances-like-a-boss","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ie\/blog\/manage-your-finances-like-a-boss\/","title":{"rendered":"How to manage your finances like a boss"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tMoney Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tHow to manage your finances like a boss\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"\"\t\t\t\tJonathan Dowden<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n\n\n

We often see businesses who are absolutely bossing their business operation or their sales and marketing. But when it comes to the finances, it\u2019s the finances that are the most tyrannical of bosses.<\/p>\n\n\n\n

It\u2019s true that of all of the different aspects of running a small business, financial management is the one that causes the most stress.<\/p>\n\n\n\n

For example, you need to understand the accounting terms. Then you must be clear on what the numbers are telling you.<\/p>\n\n\n\n

And there\u2019s the requirement to make sure you have everything ready to calculate the tax you owe and the tax you have to pay \u2013 and have the funds to cover the payment.<\/p>\n\n\n\n

The good news is none of this has to be hard or complicated. You can take things one step at a time and there is so much support out there to help you, including in this article.<\/p>\n\n\n\n

We recently hosted a panel discussion with two experts on the subject of how you can manage your finances like a boss. Carl Reader<\/a> is a small business expert, author and speaker. Sam Mitcham is the founder of SJCM Accountancy<\/a> and she\u2019s a small business accountant expert and adviser.<\/p>\n\n\n\n

Off the back of that discussion, we\u2019ve created this article to share some of the insights that arose plus some top tips to help you manage your finances like a boss.<\/p>\n\n\n\n

Here\u2019s what it covers:<\/p>\n\n\n\n

What does managing your finances like a boss really mean?<\/a><\/p>\n\n\n\n

Meet Adele and see how she bossed her finances<\/a><\/p>\n\n\n\n

5 steps to managing your finances like a boss<\/a><\/p>\n\n\n\n

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Download your free guide, 7 ways to take control of your business, and take steps now to master your business admin <\/a><\/div>\n<\/div>\n\n\n\n

What does managing your finances like a boss really mean?<\/h2>\n\n\n\n

To manage your finances like a boss, it means you have to do three things\u2026<\/p>\n\n\n\n

1. Be proactive<\/strong><\/h3>\n\n\n\n

Knowing what you need to know and when you need to know it to ensure you have the right data and numbers to hand when you make business decisions.<\/p>\n\n\n\n

2. Be in control<\/strong><\/h3>\n\n\n\n

Make the numbers work for you.<\/p>\n\n\n\n

This means having numbers that you understand, are in the format you need and give you a view on the key areas of the business that you need to monitor.<\/p>\n\n\n\n

3. <\/strong>Be responsible<\/strong><\/h3>\n\n\n\n

It\u2019s your business, your data and your numbers. Therefore, it\u2019s up to you to make sure the data is collected accurately and put in the right place at the right time.<\/p>\n\n\n\n

Doing this day by day can have a massive positive impact on your business. It\u2019s the small steps which are under your control done consistently have the biggest impact.<\/p>\n\n\n\n

Meet Adele and see how she bossed her finances<\/h2>\n\n\n\n

Consider this example.<\/p>\n\n\n\n

Adele, a small online retailer, decides to boss her finances. Before managing her finances like a boss, the business processed 10,000 customer orders per year and generated \u20ac150,000 of sales and a net profit of \u20ac5,000 after paying tax.<\/p>\n\n\n\n

She starts to be proactive and understands that there is an opportunity to sell more to her existing customer base rather than constantly investing in marketing to prospective customers.<\/p>\n\n\n\n

She brings to together all of the data she has on her customers such as:<\/p>\n\n\n\n