To keep your business moving forwards (without the faff).
The Minerva Momentum Review is a sharp, monthly business check‑in for owners who want progress, not another report they’ll never read.
In 30 minutes we boil your business down to one page:
3 key numbers that actually matter
What’s going well, what needs attention, and what’s quietly shouting for help
Clear actions, with names next to them (because things only get done when someone owns them)
No jargon. No waffle. No 40‑page management accounts destined for a drawer.
This review keeps you focused, accountable, and looking forwards, not just backwards at last month’s numbers. It’s structured enough to be useful, relaxed enough to be human, and designed to keep momentum going month after month.
Think of it as a regular business MOT; quick, practical, and far cheaper than fixing things once they’ve broken.
One page. Three KPIs. Clear actions. Real movement.
1.Increase average order value – cross sell to existing clients. What else do you offer that they could use? (This could be the case for business advice sessions or our monthly Minerva Momentum Reviews)
2.Improve client retention – it is always cheaper and easier to retain your existing clients than to go out and win new ones. Stop the leaks before you try to fill the bucket.
3.Upsell to existing clients – who has grown and is now in a position to upgrade and take on a new level of service?
4.Reduce scope creep – be clear on what is included in your contracts. Anything extra should be charged BUT make clients aware of this beforehand so they don’t get any nasty surprise. Every request for extra work should be greeted by “Yes and … that will cost £X”
5.Improving operational efficiency – with so much technology and AI around there is plenty of opportunity to improve your internal efficiencies allowing you to take on more work without impacting on your existing clients.
6.Pricing strategy tweaks – don’t forget that increasing prices is the single most effective way of increasing your profitability (but do make sure that you’re still providing sufficient value)
You’ll probably hire your first manager when your team reaches 5-8 people. It’s at this level that communication starts to breakdown with too many direct communication lines and you may run out of time to train more junior members of the team
As a rule of thumb, if you’re spending more than 1/3 of your time managing your team, answering questions, reviewing work, chasing updates, or managing issues then you would be better off employing a manager. Whilst you will have to cover an additional salary you will also free up your valuable time. It will also mean that you have the right person in place BEFORE to accommodate further growth.
If you’re becoming the bottleneck because everything needs your approval then it may be time to find the right person to delegate to. A good manager should make 80%+ of decisions independently and you won’t need to handle questions from the rest of the team.
Your first manager should be hands on and comfortable doing the work AND managing the team. They should also be a good communicator to liaise with both the team and yourself.
You will then be freed up to move to deciding the direction of your business while your new manager will ensure that everybody on board is pulling in that same direction. As you move away from the day to day you will also have a clearer view of your business which will enable you to lead it better.
Whether you want to make your business more profitable, scale up, have a better work-life balance, or to make your business more saleable than you need a business that is less dependent on you.
If you can’t go on holiday for a week without having to keep an eye on your emails, then your business is too dependent on you.
This isn’t about abdicating your responsibilities and letting your business go haywire, it is about delegating your day-to-day involvement in the business. When I sold my first accountancy practice, I achieved 32% above average because the business wasn’t dependent on me. It might not grow without me at the helm, but it definitely wouldn’t collapse. Everything was delegated to a competent team, reliable software and repeatable processes.
Yes, this takes work.
Designing and refining repeatable processes that will produce the best results again, and again, and again.
Investing in software and setting it up so that your business is less dependent on humans as experts, including yourself.
Hiring or outsourcing strategically where you need the human touch.
I love helping business owners to design all this for themselves. To date every business owner (accountant or otherwise) who has come to me for help in preparing their business for sale has ended up liking it so much that they’ve kept the business for a few more years as they’ve been able to work part time hours.
So don’t wait until you’re ready to sell to create a desirable business! Get a coach and get your life back.
It’s too easy to have KPI overload. Even accountants can lose focus with too many numbers so it helps to have just THREE numbers to monitor that will help to transform your business. Having just 3 key numbers helps to create clarity rather than getting lost in the fog of too much data. KPIs shouldn’t just be passive but should show the results of your ACTIONs.
So which ones should you choose? Well, it depends on your business goals so your three KPIs will probably be different to mine. Are you aiming for growth, profitability, cash stability, efficiency, work-life balance or something else? Proactive accountants can focus on the three numbers for each of their business clients in order to offer the most appropriate advice.
Start by thinking what a good year would look like for you.
You can then identify one KPI in each of the following areas:
1.Profitability
e.g. gross or net profit.
This helps you to develop a sustainable business and should be a consideration in all pricing conversations. As our overheads are fairly fixed I focus on monthly turnover.
2.Cashflow
e.g. cash runway, debtor days.
Cash keeps you in business and gives you the stability and confidence to invest in whatever you need to achieve your efficiency or growth targets. Most of our clients are on monthly fixed fees and direct debits but I focus on any late payers amongst our smaller annual clients and ad hoc consultancy work.
3.Performance/growth
e.g. revenue per full time equivalent employee, average client value, utilisation rate.
This is an essential part of efficiency and scalability. I track my total working hours so that I don’t get sucked into the long bours trap. When my kids were small and my working week was capped at 25 hours (the length of a school week) I focused on my profit per hour. My favourite KPI was with a coaching client who tracked her golf handicap to ensure that her work-life balance allowed her enough time on the golf course and not slaving over her desk.
KPIS should be simple to understand and measure and directly related to the management action.
KPIS are not set and forget. They should be reviewed weekly, monthly, or even daily. And you may change your KPIs as you grow stronger in one area and need to shift focus a little as your business evolves.
Clarity beats complexity and using just three KPIs keeps things clear and simple.
If you want somebody to help you set and track your three numbers for a successful business then please get in touch:
Times are tough at the moment and small business owners don’t know where to turn. Those who are fortunate to have an accountant who already provides business advice have a headstart on their competitors. The real value of a good accountant goes far beyond ticking boxes, filling in forms, and meeting deadlines. This is the basic service that we offer our ‘Essentials’ clients in return for a ‘no frills’ fee.
Business is advice is more than just tax advice! Business advice is about improving profitability, growth, and work-life balance. More and more of our clients are asking us for additional advice sessions throughout the year.
It’s not just about preparing management accounts that nobody bothers to look at but about sharing ways that will improve the business. An accountant can explain what the numbers mean, highlight trends, and identify issues early. I’m not just an accountant and an entrepreneur myself but am also a qualified Coach and Mentor so at Minerva Accountants, we are able to provide so much more than just financial advice.
Business advisers can play a vital role in strategic planning and decisions such as pricing, hiring staff, investing in equipment, raising finance, expanding into new markets or just growing your share of your current market. And they have an open book of contacts when it’s time to call in experts.
Why wouldn’t any small business take advantage of business advice from their accountant when times are tough? And why aren’t more accountants able to offer this advice?
In short, business advice from accountants is not a luxury for small businesses, it’s a strategic asset. By working with an accountant who focuses on understanding the bigger picture, small business owners gain clarity, control and confidence. Compliance keeps a business legal, but advice helps it to grow, even through tough times.
If you’re looking for support in this area, we have a few options for you:
I’m sure that I’m not alone in enjoying winning new business. But referrals are my favourite source of new clients.
It means that your current client is happy with the work that you’re doing
It means that the prospect is probably like the client so we can expect them to be a good fit for our organisation and we are more likely to take them on.
It means that the prospect has already received a glowing testimonial which derisks things for them so they are more likely to want to join us.
So how can we receive more?
Look after your existing clients well so that they don’t just stay with you but they also feel confident to introduce others
Have a system to ask for referrals. This might be an email signature that something like ‘our business grows by referral so we’d love to meet more people like you’ or sending a specific email ‘business is good but we’re looking for more’
Stage 1: Owneroperator. On starting up it’s just you and you may choose to bootstrap and spend your time instead of your cash so that you end up working long days. Everything is new and it takes a while to refine your systems so that you’re con constantly reinventing the wheel. You need to pay for expertise that you don’t already have or undergo training. And what happens if you go off sick or want to take a holiday?
Stage 2: Small team with bottlenecks. Now you have people in board to take care of most of the day to day stuff but anything new still involves you in making a decision, buying software, or recruiting. As a chartered accountant I review ALL the accounts that I sign off. Now the fear isn’t your own absence but recruiting and retaining the right people. Your team get paid first and you get what’s left over. If there is anything left over.
Stage 3: Managerled business. Now the day to day has moved away from you and so have many of the decisions and processes. You are removed from the business and managing remotely by the numbers. You dream (or have nightmares) about your KPIs (Key Performance Indicators)
There are different financial challenges at each stage and, as accountants, we are used to helping are clients at all stages. But finance isn’t the only challenge and our coaching sessions help clients to move smoothly, or as smoothly as possible, from one stage to the next. This is that value of an accountant who is also a business coach.
What a week it’s been with confidentiality issues at Companies House following on from weeks of confirmation statement failures back in November and problems with accepting personal ID numbers for directors.
We try to stay on top of all these deadlines with reminders to clients on top of all those from Companies House themselves but it’s not easy and, whilst we haven’t let down any clients yet, I have encountered problems with my own companies. Yes, as an entrepreneur as well as an accountant I run two other businesses alongside Minerva Accountants.
Having requested that all directors verified their personal ID by 18 November last year we’re still chasing in some clients in order to submit their confirmation statements. Even where we don’t submit confirmation statements we will soon need these in order to submit accounts.
The latest round of personal ID verifications is for PSCs (Person with Significant Control) but, for some unknown reason, it was not possible to add these to the confirmation statements that we have already submitted. Instead there is a 2 week window for each company at some seemingly random time of year.
And this is what has caught me out.
On 10 March I received an email reminder to ID myself as a PSC on one of my companies. Great, I’m all ready to enter my number BUT my window isn’t until April so it’s going to sit in my inbox until then. I’m pretty sure that half our clients will lose this email when their window comes. Good thing they’ve got Minerva Accountants looking after them!
Yesterday I received a letter for another of my companies forwarded from my old home address saying that I had missed the window to ID myself as a PSC. No idea what happened to the original letter/email and why they sent it to that address when I carefully updated everything at Companies House at the time and have even submitted a confirmation statement. The letter was fierce but toothless and just gave me an extension so no real problem but something clearly isn’t working.
Basically, if the system isn’t easy for somebody like me who is used to compliance, then small business owners don’t have a hope!
The best time to prepare for a stress-free year end is nearly a year ago. Trite but true.
But we are where we are so what can you do now?
Make sure that all invoicing is up to date
Make sure that you collect as much cash as possible from your clients. (See other articles on improving your cashflow and credit control procedures).
Write off old, uncollectable debts to understand the true financial position
Upload all purchase bills (next year you can start to add Hubdoc, Apron, or Dext so that you can do this as you go!)
Chase the team for expenses
Check for any draft sales invoices or purchase bills and either process them fully or delete them if necessary.
Check for old, unpaid bills. Are these genuinely waiting to be paid or the result of a duplicate entry? (This often happens if the bank account is reconciled before uploading bills
Reconcile the bank account (we hope you do this regularly anyway!) and chase VAT receipts for all payments
Run a P&L by month and look for missing expenses each month such as 11 rent or software payments instead of 12. (Xenon Connect or Dext Precision software is great for this)
Reconcile payroll to the accounts. Salaries should agree to payroll summary reports and balances owed to HMRC should agree to the business tax account
Reconcile the final VAT return to the accounts and the business tax account. This is easiest if the VAT period is aligned with the year end. You can change your VAT period online in the business tax account.
Review the Directors’ loan accounts (DLA) to make sure that they’re not overdrawn (and remind directors, yet again, not to keep helping themselves to company cash without declaring proper dividends!)
Doing this early, and regularly, will help to make the year end easier.
While you’re at it why not consider regular management accounts to provide a true financial position BEFORE directors draw money out of the business? It would save the company so much money on overdrawn DLAs leading to S455 penalty tax and tax/NI on P11D beneficial loans.
