Financial and Lifestyle Freedom for UK Business Owners
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In this episode, I'm going to share with you the steps you need to take in order to make six figures and then bring that money home. As I mentioned, this is a big claim, but one that many gurus make. I can back it up with the actual steps necessary for success. HIGHLIGHTS OF THIS EPISODE: __ __ RESOURCES: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/ https://www.annetteandco.co.uk/want-our-emails/. CONNECT WITH 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
I'm sure you've read Jack Welch's quote, “If you have any kind of success in this business, it'll be a run away train.” He was talking about the growth phase of a company. When exponential growth becomes the new normal and you can't keep up with the pace. Well, creating predictable and profitable growth for your business isn't reserved for Fortune 500 companies and startups. You can do this too, whether you're an entrepreneur or work at a small business. And I'm going to show you how it's done in today's episode.... HIGHLIGHTS OF THIS EPISODE: __ __ RESOURCES: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/ https://www.annetteandco.co.uk/want-our-emails/. CONNECT WITH 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
Growing your business, regardless of its size, may be challenging. This does not have any special formula and cannot be done overnight. It is an ongoing process that must be maintained with hard work, concentration, and determination. There are things that you can do to grow your business, and Annette will share four tips that can help you. You can implement these tips in your business. Grab a pen and paper, take notes, and start growing your business. Enjoy! HIGHLIGHTS OF THIS EPISODE: __ __ RESOURCES: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/. CONNECT WITH ANNETTE FERGUSON: Facebook - https://www.facebook.com/UKAnnetteFerguson/ Instagram - https://www.instagram.com/annetteandco_/ YouTube - 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
Whether you are a startup or an established business, you will face challenges. You will experience being trapped in your business and may struggle to keep yourself moving. Now, the real question is, Annette will share with us how to get real results in your business by conquering the chaos. First, stop doing everything by yourself. Start to delegate tasks to other people. Focus on one task or break those large projects into smaller goals. Take it one step at a time, and you will feel less overwhelmed. Next, set your fixed office hours and let your clients know your availability. Another is learning how to say NO. For more tips from Annette, stay tuned to learn more! HIGHLIGHTS OF THIS EPISODE: __ __ RESOURCES: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/. CONNECT WITH ANNETTE FERGUSON: Facebook - https://www.facebook.com/UKAnnetteFerguson/ Instagram - https://www.instagram.com/annetteandco_/ YouTube - 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
Getting things going is one of the many things that people struggle with. Creating momentum, especially in business, becomes difficult as it progresses. But it is not as difficult as you might think. Being organized and beginning to set clear goals for your business is the first critical step in getting things moving. Annette will talk about how to create momentum in your business. She will show us how it is done, leading to success. It's best to grab a pen and paper and take notes on Annette’s tips on how to keep things moving in your business. Enjoy! HIGHLIGHTS OF THIS EPISODE: __ __ RESOURCES: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/. CONNECT WITH ANNETTE FERGUSON: Facebook - https://www.facebook.com/UKAnnetteFerguson/ Instagram - https://www.instagram.com/annetteandco_/ YouTube - 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
In this digital age, email, text messaging,and the use of other messaging applications are some of the means of communication. It is important to be organized and be on top of those messages that come through. Annette will share with us today six simple steps on how to control your inbox and to reduce stress on what comes along with it. This is one of the significant steps that you have to do to fully maximize your time because checking and responding to messages can take so much of your time. You may also feel overwhelmed with the amount of messages that you receive and may cause stress. With the six steps that Annette will share, it can save you plenty of time, reduce stress, and be able to control all your incoming messages. Best is to stay tuned and take notes of these steps. HIGHLIGHTS OF THIS EPISODE: __ __ RESOURCES: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247. To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/. CONNECT WITH ANNETTE FERGUSON: Facebook - https://www.facebook.com/UKAnnetteFerguson/ Instagram - https://www.instagram.com/annetteandco_/ YouTube - 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
Success is a very subjective term, and its meaning differs for different people. Annette will share with us what success means and how you can achieve it in your own business. First, you have to define what success really means to you in order to create a path leading to your goals. Second is setting SMART goals: specific, measurable, attainable, relevant, and time-bound. Next, start creating your plan and sticking to it. Lastly, celebrate your accomplishments and even your small wins. Highlights of this episode: What does success really mean to you? How sticking to your plan makes greater success The importance of celebrating your accomplishments What are SMART goals? Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). Connect with 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)
Are you planning to start your business? Having second thoughts? You are probably thinking if it is the right time for you to start a business. There are a few things that you need to consider before starting your journey in the business industry. One of which is when you have an idea for your business and when you feel passionate about it. Moreover, if you are ready to invest your money and time in building your business. Take the risk if you are really willing to start your business. Also, having a strong support group, family, and friends, can lead you to a better position in creating your business. Annette will cover when is the right time to start a business. Stay tuned and listen for tips and advice on when is the right time to start a business. Highlights of this episode: When is the right time to start a business? What are the preparations needed in starting a business The importance of learning from your mistakes Start with having your own idea about your business Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates of all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). 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)
Business models are fundamental in all types of businesses. This should be the best fit for your business. In order to know what might fit in your business, you have to ask yourself some questions that answer what you are good at and what things you enjoy doing. It is important to answer those questions and allow yourself to capitalize on your strengths when choosing the right business model. Also, as a business owner, you must be flexible in making adjustments to your business model to adapt to an ever-changing world. In today’s podcast episode, Annette will teach us about the different types of business models that are available to small businesses and which might fit you. It is also best that you conduct your own research to find out the perfect business model for you. Stay tuned, learn more, and achieve success! Highlights of this episode: How to find the right business model for your small business How to sell products that you create yourself Why it’s important to test your business model before launching it The significance of flexibility in business A deeper understanding of business model as a process Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates of all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). 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)
In this episode, Annette will teach how to raise your prices and increase your profits without losing any of your clients. She will clear some of the misconceptions about increasing your rate such as people will not buy from you when you increase your price, and it does not always happen that way. There might be risk when you increase your price but it should not have any negative effect on you and your clients. There are certain things that you just need to consider and think thoroughly about. One of these is understanding your client wants and needs, this can be your first step before you decide on how you can increase your price. Another is doing research on your competition. You may be able to know and compare both of your prices and services offered. Grab a pen and take notes of Annette’s wisdom on how you can raise your price and increase profit without losing your clients. Highlights of this episode: How to determine a fair price for your business. How many clients can you afford to lose if you increase your prices Keep track of who leaves and why in order to improve your business The importance of doing research on your competition Give your clients an incentive to stay with you during a price increase Understanding your clients wants and needs for the betterment of everyone How to Raise Your Prices and Increase Your Profits Without Losing Any Clients Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates of all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). 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)
Time is one of the most crucial elements in business that every business owner should fully grasp. Failure to understand the importance of time in business would cost a lot and it can cause you to fall behind your competition. If you want productivity in your business, proper time management is the key to excel in your game. Annette will discuss how important it is to use your time wisely. She will give 10 tips that you can implement in your business, how you can maximize your time, and be productive in your business to achieve success. Take notes as she sheds some light on how you can leverage your time and grow your business. Highlights of this episode: How to use your time more efficiently so you can grow your business. The importance of building a strong team of professionals who share your vision Delegate tasks to people in order to focus on what you are good at Be prepared for setbacks in your business and persevere 10 Key points on how you can leverage your time and grow your business Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates of all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). 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)
As a business owner, you have to make sure that you are receiving your income regularly. This is a process that should be done with continuity so as not to be stuck on your business. With this, increasing your income will be done by being on the right track and deciding what will be the best for your business. In today’s podcast episode, Annette will get us through your income and how to increase your take-home. Also, she will give further details about other expenses that you make on your business and Annette will share an exercise on keeping tabs on your money leaks Highlights of this episode: Two important things you need to increase your take home How to make sure your expenses are delivering a positive return Why do you need to be consistent with your growth strategy What do you need to do to get your costs under control Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates of all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). 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)
80% of businesses fail in the first couple of years and beyond three to five years, statistics become worse. But the good news is that over 90% of Self Made Millionaires do so through their own business. There are risks in starting your own business that at some point either you will lose confidence or you come out strong to have your business up and running. It is not the smartest person in the room that gets to have a successful business but it is someone who is disciplined enough to spend less than what they earn, someone who creates effective key strategies in place and grows their business to be successful and achieve their goal. Annette will discuss all the key strategies for business owners to avoid becoming one of those Failure Statistics. Highlights of this episode: What causes business failure? How to find financial freedom? The importance of strategizing in your business Key strategies to avoid business failure Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247). To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/ (https://www.annetteandco.co.uk/want-our-emails/). 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)
Starting your own business or owning a company does not stop there. You have to properly strategize on how you can grow and succeed in your business. As a CEO, you must have control over every aspect of your company. In today’s podcast episode, Annette will talk about how to think like a CEO to grow your business faster with the key things that she wants you to understand, and practice: a positive mindset, strategy in all aspects of your business, and understanding the data in your business. Developing a way to track and monitor your business and creatively do an effective strategy to grow your business faster are some of the key traits of a great CEO. Highlights of this episode: The importance of having a positive mindset in your business What are the leading and lagging indicators in your business that will tell you about your business ahead of time? Key things that you have to take note of as a CEO Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) Cash flow Planning by Annette Ferguson on Youtube: https://www.youtube.com/watch?v=KOuX9VWixwo (https://www.youtube.com/watch?v=KOuX9VWixwo) 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)
Appropriate pricing is important in your business as it may also be related to the value of the service or product that you offer to your client and prospects. This is one of the things that you have to decide in building your business because it can make or break what you have started. Annette will delve into pricing and specifically why it is important to look at your pricing on a regular basis in your business. Also, Annette will help you with how you can check your pricing with an exercise. Grab a pen and paper and stay tuned. Highlights of this episode: Why It’s Important to Look at Pricing Regularly in Your Business? How do you know if your pricing is profitable? Free!!! Pricing exercise from Annette Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) https://www.annetteandco.co.uk/want-our-emails/ (Sign up and be part of the email list to get value-packed emails into your inbox!) 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)
In building your own business, there are things that you have to prepare. Your website, physical store, or office, hiring employees that will be an asset to your business, and so much more. On top of that, there should be your business budget. In today’s podcast episode, Annette will enlighten all of us about the news regarding the mini budget and what it means to small businesses. Highlights of this episode: The importance of a mini-budget for small businesses? What has today’s mini-budget announced that is relevant to small business owners in the UK? Are there any changes that will create an impact on small businesses? Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) https://www.annetteandco.co.uk/want-our-emails/ (Sign up and be part of the email list to get value-packed emails into your inbox!) 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)
A business continuity plan is vital in every business. Creating a business continuity plan creates awareness and reduces risks for inevitable situations. A business owner must prepare this plan as it can practically help your business be prepared for different crises or emergencies, be it personal, family, community, or even globally like what happened during the onset of CoVid. Annette will give us her insight on how she does her drop everything and run-plan based on her recent experience. Highlights of this episode: The importance of having a continuity plan How to put everything in place Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) 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)
Cash is the lifeblood of a business and running out of it is the number 1 reason why businesses fail. Every business begins and ends with a positive cash flow. The cash flow determines the amount of money that goes in and out of your business. Annette will go through five cash flow must do’s in your business and remarkably be a successful business owner. The 5 must do’s in your business are structuring your payment terms, positive impact of leasing, cash flow forecast, pricing profitability, and eliminating money leaks. Highlights of this episode: What is cash flow? 5 Must Do’s in your business Importance of leasing in business Proper pricing of products/services Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) Links: Watch this podcast episode on Youtube: https://www.youtube.com/watch?v=gR92Xgnkhw8 (https://www.youtube.com/watch?v=gR92Xgnkhw8) Cash flow Planning by Annette Ferguson on Youtube: https://www.youtube.com/watch?v=KOuX9VWixwo (https://www.youtube.com/watch?v=KOuX9VWixwo) 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)
If you want to start your own business, accounting is one of the vital things that you have to understand and apply. Or if you already have your own business established, are you certain that you did not leave anything? Do you already have all the data in your business? What really is financial accounting and what is its purpose? The main purpose of financial accounting is to report the financial performance of a business. It provides information to external parties such as investors, creditors and tax authorities. It can also overlap with management reporting when it is used to make internal business decisions. Annette will help you understand the 10 key principles of accounting and she will cover each one of it. It is important for you to know the essence of these 10 principles, this is the foundation for all accounting work, in your annual accounts, income statements, profit and loss account, balance, etc. Also, she will share 8 steps on how accounting works in reality called the Accounting cycle. Highlights of this episode: What is financial accounting? Deeper understanding about the 10 principles of accounting? What is Double Entry Bookkeeping or Bookkeeping? Why is double-entry bookkeeping important? What are Financial Statements? Where do bookkeeping and accounting meet each other? 8 Steps on how accounting really works in reality or Accounting Cycle Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) Youtube link of the episode: https://www.youtube.com/watch?v=7JznXhmGpRo (https://www.youtube.com/watch?v=7JznXhmGpRo) 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)
If you want to start building your own company, you must first understand the law and its regulations. One of which is having a registered office address to which all communications and notices may be addressed. It falls under Section 86 of the Companies Act of 2006. Aside from the registered office address, you might also hear the service address and business address. Do not be confused with all of these, Annette will share her knowledge about the difference between a registered office business address and a service address. This type of information about the company is shown on the website, letterhead, emails, and serves as a public record. Furthermore, it will help support corporate transparency and will be able to help people know where businesses are located. Stay tuned for more information regarding this informative topic. Highlights of this episode: What is Section 86 of the Companies Act of 2006? Difference between registered office, business address, and service address The importance of a registered office business address Can you change your registered office business address? Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) Youtube link of the episode: https://www.youtube.com/watch?v=22pLvAOFmeY (https://www.youtube.com/watch?v=22pLvAOFmeY) 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)
Social media has been a vital part of different marketing strategies. It can be used to attract and funnel potential clients into availing of your product or services. Today, Annette will impart to all of you how to monitor the marketing strategy of her business. They started to implement a new strategy on the platform, Twitter. She then committed to implementing this for 90 days. Annette started by taking screenshots of important data to keep track of the progress of the new strategy. Aside from Twitter, she also used other platforms to make a comparison of the results. Find out more of the significant matters that Annette did in her business and its impact. Highlights of this episode: Measuring the impact of the new strategy on the business. How does Annette monitor her business’ marketing strategy The use of social media platforms in your marketing strategy Is your strategy on the platforms you’re on performing in the way you want it to? Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) 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)
Pricing can be difficult as it can frighten off ideal clients. But even so, as a business owner, you have to make sure that you are charging enough so that you make a profit. You must have an understanding that every service that you are offering needs to be profitable and never misses out on any crucial parts of the calculation. Furthermore, you have to analyze each of your services offered and include the things needed in your pricing, such as any stripe or transaction fees, hourly/weekly/monthly rate, and other significant areas in your business. You can make use of the formulas in different software like Microsoft excel or Google Sheets. Annette will talk about how you can set prices as a business owner to have profit and a great stream of clients. Highlights of this episode: Importance of profit How to set your pricing How do you know if you’re profitable? Activities that you can do to make sure you are pricing correctly What should be included in your pricing Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) 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)
Adaptability is the quality of being able to adjust to new conditions and the capacity to be modified for new use or purpose, as defined in the dictionary. As a business owner, you have to be ready to make some adjustments in your business in order to grow, if necessary. Also, it is an essential skill to plan for your business ahead of time. In today’s episode, Annette will share a story about how adaptability is important in your business to survive and grow. She will set the ice cream van as a perfect example of what adaptability really is. Highlights of this episode: The importance of adaptability in business How to be adaptable as a business owner Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk. 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)
Profit is one of the indicators of how you will know if your business is progressing. Also, this is the result of all the strategies that you put into your business. Furthermore, as a business owner, you have to gather data in order to know whether you are gaining profit or not. Annette will shed some light on the secrets of how you can increase the profit in your business and the pieces of data that you need to track those sales and marketing strategies. She will also give different exercises that will surely help you increase profits in your business. First, is identifying money leaks in your business and eliminating them. These are expenses that are necessary for your business and may slow down your profit. Next, you have to examine the products, programs, services, and offerings that you have in your business. As a business owner, you have to understand if those that you are offering to your client are profitable or you may need to analyze the pricing on the value of your service. Lastly, be aware of the percentage of the leads that you can turn into clients. This is vital in your business as this is the outcome of your sales process. Join our Facebook group to learn more: https://www.facebook.com/groups/915326342418247 (Profit First UK) Highlights of this episode: Top 3 data in tracking your sales What is a money leak? How to identify money leaks in your business How to analyze the products/services that you offer your clients The importance of the sales process in your business Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk. Connect to Annette Ferguson: Facebook - https://www.facebook.com/UKAnnetteFerguson/ (https://www.facebook.com/UKAnnetteFerguson/) Facebook Group: https://www.facebook.com/groups/915326342418247 (Profit First UK) 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)
Summertime has already ended and you will have some weeks to prepare for school or for some, the school has already started. You may start to juggle things between your kids and your business. Today, Annette will share with you how you can utilize this time in planning ahead of time. What should be done? Start with refocusing your priorities, evaluating your strategies, and planning the rest of the year. Being strategic and having your plans in place is a great way to start. Highlights of this episode: Transitioning from summer to back to school The perfect time to create a strategy for your business and the family Resources: If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk. 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)
In the current economic climate, the high cost of living, the increased inflation and with the recession coming up, we need to have a system or strategy in order for us to have a take-home pay. Your goal in setting up your business is to be able to have financial freedom for you and your family, right? You have a team that receives their pay but for you as the business owner, there is none. Isn't that terrible? That is why it is really important to do the allocation exercise on a continuing basis so that your mindset is trained to be in control of your finances. If you still have questions on how to do allocations, please feel free to speak with Annette or any of her team members to see how you might work together so that your business can move to a healthier financial position. Here are a few insights you’ll hear in today’s show… How to access the Allocations Template and Instructions on how to have a copy? Doing the first allocation exercise. (... After having done the bank accounts set up, Instant Assessment, Checking for Money Leaks and Setting up the allocations.) Why is allocation a big deal in moving your business towards a healthy and stable financial position? How do you proceed if Profit First does not work for you in your first attempt? What is a Profit Plan and how it can help your business to speak about it with Annette or with anyone in her team? In situations where you have upcoming costs next week that will prevent you from allocating for this week, what can you do? Resources: Fitting Call Link - https://www.annetteandco.co.uk/fitting/ (https://www.annetteandco.co.uk/fitting/) 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)
Day 4 in the implementation of Profit First in your business is about setting up your allocations. When allocating, it is like setting up an envelope system much like Dave Ramsey’s Envelope Methodology for your personal finances. On this fourth day, Annette will guide you in setting up allocations to the various accounts in your business like Operating Expenses, Owner’s Pay, Profit, Tax and for your Team through an Allocation Template that she has prepared. As this is a live session, you may comment or ask Annette questions, but if you are catching this up on a replay, you can still do so, by commenting “replay” and then your questions or your comment. Here are a few insights you’ll hear in today’s show… The Allocation Set Up that Annette used with her clients. (...What is the recommended schedule when doing allocations?) What are the two things that you need to know and understand when doing allocations to your different buckets? What is Current Allocation Percentage or CAP? (...What is the recommended percentage allocation for the Operating Expense and Owner's Pay?) Annette shared how much to allocate in each of the accounts using the Allocation Sheet or Template. How are you to allocate a chunk of money sitting in your current account? (... To what account should that chunk of money should have been allocated?) How are we going to do the recurring weekly allocations moving to monthly when you need to allocate for your Owner's Pay or even a bonus? What happens when you have a negative number in the Profit Account? (...What percentages are advisable to be tweaked on the profit account, owner's pay and tax?) Resources: Interested in joining this sprint or catching up with the live sessions? You still can, join here - https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247) 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)
In getting the proverbial light and delivering your owners comp and profit to your business, it is important that you thoroughly examine if there are money leaks in your expenditures. Day 3 of the sprint in implementing Profit First in your business, I talked about money leaks and how it is absolutely great to allocate your time to find, assess and eliminate money leaks in your business. Here I will teach you an exercise that needs to be done on a regular basis because businesses change over time. If you are listening to this on a replay, you can still send in your comments and questions and mention “replay” and I will still go over your comments and questions. Here are a few insights you’ll hear in today’s show… - What is a money leak and why is it important to assess regularly if there is, in your business? - In doing the money leaks exercise, what are the things that need to be done? (...What are the questions you need to ask yourself with regards to expenses?) - What other things that you need to put on a lens, as well, that can be eliminated or eliminated? - The homework and why it is important to do the task? - The benefits of examining the costs and operating expenses in your business. (...An example of a subscription that needs to be canceled.) Resources: - If you're interested in joining this sprint or catch up with the live sessions, join https://www.facebook.com/groups/915326342418247 (here) Connect to Annette Ferguson: -https://www.facebook.com/UKAnnetteFerguson/ ( Facebook) -https://www.instagram.com/annetteandco_/ ( Instagram) -https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA ( YouTube) - Listen to the Podcast - https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (Financial and Lifestyle Freedom for UK Business Owners)
Crunching numbers is scary and intimidating. Worse is if you don’t know where to get those numbers. On day 2 of getting Profit First Implemented, Annette will go into the nitty-gritty details of the number’s crunching game and will guide you where you can get those numbers from. Getting all those numbers together is an important step in shifting your mindset around your business's finances from how you might be operating currently and how to gain optimal performance in your business. Here are a few insights you’ll hear in today’s show… What is Instant Assessment and how do you calculate it? What is the ideal period of time where you can look up data? (...What do you do when you don't have that much data available?) Where do you get the Top Line Revenue data for this exercise? In what ways does Real Revenue have the same number as your Top Line Revenue? What do you do when you don't have an accounting set up yet? Why is the profit in the Profit Box not the same as the profit that you see at the bottom of your Profit and Loss account? What is the Owner's Comp and where can you easily get those numbers? The Tax Box, what goes in there and what's not included? Why is the Operating Expenses one of the boxes that is hard to complete for this exercise? Resources: - If you're interested in joining this sprint or catch up with the live sessions, join https://www.facebook.com/groups/915326342418247 (here) - If you would like a copy of the template to do your Instant Assessment then https://www.businesswealth.co.uk/offers/ALz2euUX/checkout (here is the link (it's free!)) -https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making/dp/073521414X ( Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine) Connect to Annette Ferguson: -https://www.facebook.com/UKAnnetteFerguson/ ( Facebook) -https://www.instagram.com/annetteandco_/ ( Instagram) -https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA ( YouTube) - Listen to the Podcast - https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522 (Financial and Lifestyle Freedom for UK Business Owners)
Today, on Day One of our Get Profit First Installed, we're going to get down and dirty with the foundations of Profit First. The rules, definitions, and framework could make all the difference between profit first helping you or forcing itself out of a job. This may sound daunting if you've never included this in your business, but the initial steps are exciting, and they include setting up those financial foundations that will then lead to a full-blown Profit First implementation. If you're interested in joining this sprint as well, do make sure that you join our https://www.facebook.com/groups/915326342418247 (Facebook group) and catch up with the sessions. Link to the Facebook group: https://www.facebook.com/groups/915326342418247 (https://www.facebook.com/groups/915326342418247)
