The Synergy of Strategic Partnerships: When 1+1 Equals 11
OK bear with me because, maths. But I really believe that when it comes to collaboration 1+1 truly does equal 11. Collaborating with peers, competitors, and businesses sharing a similar client base has been the cornerstone of success for Lantern Partners. Over the...
Time to review your expenses?
One of the most important things you can do to ensure your finances are in good shape is to review your expenses. It’s important to do this on a regular basis, not just when you’re encountering problems. And particularly at the moment, building up a cash buffer for...
When is the right time to engage a virtual CFO for my business?
Picking the right time to engage a virtual CFO can be tricky, but we find there are a few key signs that a business is ready for additional support. For a founder those signs are: You’re growing but you still never seem to have enough cash Fast growth can be one of...
I have an accountant – why do i need a CFO?
The challenge with any industry when you’re looking in from the outside is to understand the different roles that make up a particular profession. And I know I’ve been guilty of that when I’ve looked at other professions. Often when businesses say they have an...
Key considerations on making the move overseas
So you’ve set your sights on expanding overseas - go you! But what are some key considerations to ensure that the move goes smoothly? What’s your objective? Number one on the list is to get clarity around what you are trying to achieve with the...
Know your margins
The number 1 piece of advice I give to business owners is - know your margins. No matter what kind of business you are in you need to know how much money it is costing you to deliver each $1 of revenue. And this advice applies regardless of your stage of business...
You’d get more love from your investors if you just knew how to talk to your numbers
Huge frustration investors have with founders is the inability to communicate effectively around their numbers. And for founders, who are usually doing this unknowingly, it can, worst case, become a roadblock when they need support or more funds. And the best...
Budgets, Forecasts and Business cases – what’s the difference between them and why do you use them
Budgets Budgets have traditionally been constructed once a year and become your yardstick to measure progress against. Pros - They keep you honest because you have fixed goalposts to measure against. Cons - For most businesses, and particularly coming...
How to talk finance to your board
Not all businesses have, or need, boards but if you do then how you talk to your board is a key part of getting the most value from the relationship. 1. Make sure first you are aligned with your board as to what success looks like Before you can work out...
10 things boxing has taught me about business…and life
I recently started boxing again after a long hiatus and I'm loving it, but more than just getting back in the ring and improving my fitness, it is also reminding me how valuable the lessons I've learned from boxing are for business and life in general. Technique...
