300 episodes

Financial and Lifestyle Freedom for UK Business Owners

Profit pro and wealth coach Annette Ferguson teaches UK entrepreneurs how to break free from the vicious cycle of working hard, and start operating from a place of consistently increasing profit.

Tune in every Monday, Wednesday and Friday to learn money hacks and business tactics so you can build a dream team, serve your clients better, and ultimately take home more money.

She and her guests give no-nonsense finance strategies, UK business updates, and profit-increasing tips.

Subscribe today to maximize your resources for profit, find the hidden wealth in your business, and achieve true financial and lifestyle freedom through the business that you have!

Financial and Lifestyle Freedom for UK Business Owners Annette Ferguson

    • Business
    • 4.6 • 5 Ratings

Financial and Lifestyle Freedom for UK Business Owners

Profit pro and wealth coach Annette Ferguson teaches UK entrepreneurs how to break free from the vicious cycle of working hard, and start operating from a place of consistently increasing profit.

Tune in every Monday, Wednesday and Friday to learn money hacks and business tactics so you can build a dream team, serve your clients better, and ultimately take home more money.

She and her guests give no-nonsense finance strategies, UK business updates, and profit-increasing tips.

Subscribe today to maximize your resources for profit, find the hidden wealth in your business, and achieve true financial and lifestyle freedom through the business that you have!

    Measure of Profitability of Your Business

    Measure of Profitability of Your Business

    When your Profit and Loss Statement shows that you have positive profit, you need to really check if that is real profit because it may not. Positive doesn't mean the business is financially healthy. This is the case of just “paper profit”. Why does this happen? Unreal profit happens when profit that does not equate to having actual cash in the bank.
    In this episode, Annette will give you some guidelines on how to ensure that you have the right cash management in your business. Some of the causes why the business is not financially solvent is when there are money leaks happening in your business operation.


    Here are a few insights you’ll hear in today’s show…
    What are the types of profits?
    How do you know if your business is financially healthy?
    How do you ensure that your business has physical cash profit?
    What does "Profit First" do and how do you operate it?
    Why is it important that you identify and assess money leaks that are happening in your business?
    What are money leaks?



    Resources:
    Identify and eradicate money leaks: https://youtu.be/tKDmRApyrww (https://youtu.be/tKDmRApyrww)
    Understanding a profit and loss account: https://youtu.be/9R6QwNPsM7w (https://youtu.be/9R6QwNPsM7w)
    Understanding a balance sheet: https://youtu.be/EZ1cctAAnI0 (https://youtu.be/EZ1cctAAnI0)


    Connect to Annette Ferguson:
    Facebook - https://www.facebook.com/UKAnnetteFerguson/ (https://www.facebook.com/UKAnnetteFerguson/)
    Instagram - https://www.instagram.com/annetteandco_/ (https://www.instagram.com/annetteandco_/)
    YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA (https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA)
    Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -
    https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522)

    • 10 min
    The Accounting Equation for Business

    The Accounting Equation for Business

    Understanding the accounting equation is very hard to comprehend for some, but in this episode you will learn about the most important accounting principle that is applied for all businesses. The Balance Sheet is all about being equal, it should be balanced and it is not possible that your Assets and Liabilities + Equity will outweigh each other.
    When you understand the accounting for your business, it will help you know your status as a business, whether you are having profit or loss, or whether you are tight with your cash flow or whether your business is solvent.


    Here are a few insights you’ll hear in today’s show…
    What is the accounting equation?
    Explanation of accounting terms and how the accounting equations are always equal to each other?
    What are Assets, Liabilities and Equity?
    What is Retained Earnings in relation to future use in the businesses?
    What is a Balance Sheet and why is it one of the important reports concerning a business?
    More examples of the accounting equation



    Connect to Annette Ferguson:
    Facebook - https://www.facebook.com/UKAnnetteFerguson/ (https://www.facebook.com/UKAnnetteFerguson/)
    Instagram - https://www.instagram.com/annetteandco_/ (https://www.instagram.com/annetteandco_/)
    YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA (https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA)
    Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -
    https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522)

    • 12 min
    The Paradox of Being Self-Employed and Employed at the Same Time

    The Paradox of Being Self-Employed and Employed at the Same Time

    It is now common for people to be employed and at the same time to have a side hustle or what we call as self-employed. People don’t leave their 9 to 5 jobs yet, as they weigh on what to keep between the two sources of income. It looks promising for the profit side of it, but there could be some problems here if you do not know the tax implications for both. Plus there are also rules with regards to what expenses are allowed or disallowed when you are in business. Additionally, strict compliance with HMRC regulations should be followed.
    Here are a few insights you’ll hear in today’s show…
    The difference in the tax implication when being self-employed and employed at the same time.
    Why is keeping records important in submitting your personal tax returns?
    What is Trading Allowance?
    Why is there a need to declare income and associated costs? (...How does the difference between national insurance classes work?
    How do you calculate the business profit in order to know the basis of tax payments?
    How do you register as self-employed with HMRC and how do you submit your tax return?



    Resources:
    Register for VAT: https://www.gov.uk/vat-registration/how-to-register (https://www.gov.uk/vat-registration/how-to-register)
    Accounting and Bookkeeping softwares:
    Xero- https://www.xero.com/ (https://www.xero.com/)
    QuickBooks - https://quickbooks.intuit.com/ (https://quickbooks.intuit.com/)


    Connect to Annette Ferguson:
    Facebook - https://www.facebook.com/UKAnnetteFerguson/ (https://www.facebook.com/UKAnnetteFerguson/)
    Instagram - https://www.instagram.com/annetteandco_/ (https://www.instagram.com/annetteandco_/)
    YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA (https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA)
    Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -
    https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522)

    • 15 min
    Disadvantages of Payment Terms

    Disadvantages of Payment Terms

    Today’s episode is inspired by a conversation that I had with my client and it is all about payment terms. Understanding the payment terms is essential to grow your business and this is applicable for both product-based and service-based businesses. Stay tuned as I give different scenarios that will help you understand what should be done to help grow your business.

    Here are a few insights you’ll hear in today’s show…
    Customer perspective versus Business perspective
    The importance of understanding payment terms
    What should be done to grow your business?

    Connect to Annette Ferguson:
    Facebook - https://www.facebook.com/UKAnnetteFerguson/ (https://www.facebook.com/UKAnnetteFerguson/)
    Instagram - https://www.instagram.com/annetteandco_/ (https://www.instagram.com/annetteandco_/)
    YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA (https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA)
    Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -
    https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522)

    • 7 min
    The Profit and Loss Account Explained for Business

    The Profit and Loss Account Explained for Business

    The 'Profit and Loss Statement' (PandL), or ‘Income statement’ is one of the three major Financial Statements.
    In this video, you'll find out what the Profit and Loss statement is and how you can use it to measure a business's financial health.
    Here are a few insights you’ll hear in today’s show…
    - What is a Profit and Loss Statement and why it is one of the important financial statements of a business?
    - Sections of a Profit and Loss Statement and explanation of terms




    - If you are interested in making more profit come and join our (new!) free Facebook Group - https://www.facebook.com/groups/915326342418247 (Profit First UK - here )
    - If you want to speak to us about how we might be able to support you, https://www.annetteandco.co.uk/fitting/ (book a call with our team here)

    • 6 min
    Return on Investments in People

    Return on Investments in People

    I am opening the doors to Business Wealth Academy very soon so you can get the help that you need.
    As soon as you join me inside, you’ll have access to hundreds of video resources and regular live calls with me so you can take action towards more profit.
    Not only that you will also get access to our private podcast. Here is a sample episode that will be made available to your once you become a member.
    - Sign up now to join the waitlist: https://www.businesswealth.co.uk/bwawaitlist2022 (https://www.businesswealth.co.uk/bwawaitlist2022)
    - If you are interested in making more profit come and join our (new!) free Facebook Group - https://www.facebook.com/groups/915326342418247 (Profit First UK - here )
    - If you want to speak to us about how we might be able to support you, https://www.annetteandco.co.uk/fitting/ (book a call with our team here)

    • 6 min

Customer Reviews

4.6 out of 5
5 Ratings

5 Ratings

Sus Renee Aberdeen ,

Great podcast for business owners

Been following Annette on FB during the Covid19 crisis and she has been a great source of information and inspiration. Found this podcast via there - great to listen to on my morning runs.

ADuncan01 ,

Great

Great for online entrepreneurs

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