Financial clarity is extremely important for builders. In Integrity Franchising Director Glenn Leet's experience, since Xero's new Analytics Plus has been released, more and more INH franchise owners have started utilising this feature to help improve their understanding of the cash flow and financial health of their businesses.
Building businesses are unique in that they are generally small businesses managing large financial transactions. Therefore, financial clarity is extremely important within the business and thus it is an important feature of the business coaching Glenn offers to our INH Builders.
Glenn, who is a qualified accountant, offers his accounting services to INH franchisee owners. He says that those who are actively looking at their books and utilising programs like Xero find themselves in a more confident position within the marketplace.
"Providing insight within a fortnightly time frame benefits the builder immensely. Some builders are only talking to their accountant yearly and a lot can happen within a year as we have seen in the last 12 months. Using add-on programs like Analytics Plus that Xero offers allows builders to leverage the massive assistance of understanding their cash flow, their current financial position and allow them to have the confidence to know where they are currently located in the marketplace" Glenn shared.
"It is a tragedy that any building business would fail, yet we see it happen constantly and a part of the reason for this failure is that owners of building businesses aren't utilising the tools accessible to them."
Integrity Franchising is proud of the product we offer when it comes to business coaching and we believe that this plays a significant part in giving INH builders the confidence and clarity to make decisions to build their businesses for the future.
If you are a builder within the INH group or one outside the group who needs coaching within this area of your business, we invite you to connect with Glenn to see how he can help in bringing financial clarity to your business.