Goldclock Business Solution Providers Ltd. RC 1529834

Goldclock Business Solution Providers Ltd. RC 1529834 At Goldclock, we provide professional guidance to businesses ensuring they thrive in what they do. W

You're not sure where your money goes? Contact us. Let's give it a look.
24/09/2020

You're not sure where your money goes? Contact us. Let's give it a look.

The value of future products depends on the raw materials used today in the building process. People are crucial in the ...
13/09/2020

The value of future products depends on the raw materials used today in the building process. People are crucial in the growth and value of any organisation.

Watch your employee turnover. It says a lot.

If you have strong processes to protect your assets and drive efficiency and lack the retention of productive staff, your business is a funnel of skilled workers for your competitors. Later, you would find out you are working so much harder to stay in business. It is a pertinent remark that people build the structure of success and sustain it.

No people, No future!

As you do away with the bad eggs from time to time, good staff with sharp and learning mindset and great character are worth keeping. Do not flush both doing away with the former. It would be costly.

Provide the enabling environment for your staff to thrive. Motivate them as you expect them to motivate themselves. Let them see you value them and in return, they would protect your assets, be innovative, drive productivity and give that extra touch.

It is one thing to be profitable, its another to sustain it. Sustain your people to sustain your wealth.

22/08/2020

In whatever business decision you are considering, do not be blinded by the profit or impressive cash inflows presented. Weigh the business/operational and financial risks and the mid and long term effect of embarking on such decision. The parameters for making the decision must be well thought through.

Planning does not only involve looking ahead, it also involves looking at your rear. A holistic analysis is required before making decisions that would affect the future of your entity.

To invest millions of Naira today on hand sanitizer, with an impressive outlook on profit to be generated during this pandemic, I must consider:

- The sustainability of future returns.
- How was the market before the pandemic?
- What is the trajectory of the product sales in the market vis a vis the demand?
- How is competition and the market shocks?
- How would my ROI be affected if there is a shift or change in demand?
- How would a low selling price affect my direct and indirect costs? We can go on.

Be smart with your numbers, be wise about your financial health, safeguard the going concern of your business with right decisions.

16/08/2020

Remember, everyday is an opportunity to do things right. 5 habits we should put aside this week:

1. Making withdrawals from your business without replenishment in mind. This has to stop. Remember your business obligations to meet.
2. Seeing your staff as just tools. They can grow or kill your business. Value them.
3. Seeing fat bank account balance as profit. View your Income statement to see if you have been profitable and assess your balance sheet to see if you owe much and have healthy assets and capital.
4. Eating your tax. Not good. Make provisions and pay when due. It's a responsible thing to do.
5. Not saving for the rainy. We've all been guilty at one point. Let's be better by saving and reinvesting into our lives, businesses and whatever matters to us.

Have a blissful and fruitful week folks👍

Depreciation is one big truth undermined in financial reporting. EBITDA (Earnings Before Interest and Tax, Depreciation ...
11/08/2020

Depreciation is one big truth undermined in financial reporting. EBITDA (Earnings Before Interest and Tax, Depreciation and Amortization) is very much considered in the appraisal of business performance than EBIT (Earnings Before Interest and Tax). Depreciation is money spent already (wear and tear in theory) but if not covered in full, the 2 key implications are:

1. It adversely affects your Return on Investment (ROI) meaning the
business is not utilizing its fixed assets profitably and
productively.

2. The business is not generating enough sales to cover its
operational or overhead costs resulting to a negative bottom
line i.e. Net loss.

Although when the Depreciation is higher than the EBITDA resulting to a Net loss, the business could still have healthy working capital or short term liquidity to fuel the business operations. This is a classic deception for any business manager to be aware of.

By disregarding the effect of depreciation in your operating statement, you just might be flushing your investments down the drain. You have paid heavily for the Fixed Asset, recover the investment cost.

It is responsible to pay attention to your payback period- when your cash inflows can cover the investment cost. An effective way is ensuring the asset has contributed more to the business before it reaches its scrap value or the expiration of its useful life.

Therefore, for every reporting period, the EBITDA must be strong enough to cover the Depreciation cost. By ensuring this,

1. You are sensibly recouping your investments,
2. You are ensuring the assets are used productively,
3. You are earning good Returns on Investment and
4. The business would record healthy profits and be in the Margin
of Safety.

This is being and as business managers.

#

07/08/2020

A clear mirror of the way a business is run is the personality of the entrepreneur and the business leader. Usually, their way of life and beliefs guide their business decisions. A cheerful giver at home also gives significantly in business- sometimes detrimental to the firm. A ruthless leader does not really care about ethical standards when making decisions.

It is not easy to disintegrate your personality from business management. A good way of staying on the right path is having a clear Standard of Operating Procedure and the establishment of corporate police (i.e Internal Control officers). They would ensure the policies are adhered to and the business is run in an orderly an efficient manner. They would also safeguard the assets of the business for the sake of its going concern.

Business leaders who would not allow the set up control system to work unimpeded and make decisions contrary to the laid down policies of the organisation, might eventually crash the business on the rocks.

A business without principles moves aimlessly. Lack of corporate order breeds inefficiency in the management of resources that might result to the dissolution of the business.

Since constructive evaluation of ones actions can be seen as an act of , the planning and management of resources an ac...
03/08/2020

Since constructive evaluation of ones actions can be seen as an act of , the planning and management of resources an act of , then we can tag Accounting as a just act.

Why carry on life without taking time to see the effect of your actions and chart a better way forward? In business, going on each day without accounting for yesterday and for tomorrow is not responsible or prudent.

I understand putting down your business actions and plans in numbers requires accounting skills which many do not have, it is important to at least learn the language and/or get an expert to record it for your digest and guide you professionally.

You cannot make informed decisions or guide your business properly without . Its a fact! Act responsibly. Be .

Accounting, a true religion for your business.

02/08/2020

Accounting is far beyond recording and interpreting financial data. It is a process that defines your lifestyle; it is a culture, a systematic way of life. Having your commercial relationship with the world in numbers is the translation of your affairs in the language of business i.e. Accounting.

For instance, planning a trip to a city involves Budgeting. It entails the evaluation of your Current Assets- ( i.e. cash, receivables etc.) to know if you can afford it or not. You also assess your Current Liabilities so you do not fail to meet your obligations when they fall due. The expectation of revenue or cash inflows would also come to mind as you spend- to stay afloat and not go flat or under. All these are activities of Accounting.

The projections and outcome of our decisions can be expressed in numbers which involves the technicality of organizing and interpreting the accounting language.
ultimately expresses who and what you are. is a status for just Accountants. Be one

Building strong institutions, organisations or companies requires leaders with strong will and sense of determination to...
01/08/2020

Building strong institutions, organisations or companies requires leaders with strong will and sense of determination to drive their world to success. Just know what you want and go for it- with open eyes of course.

You see, stumbling blocks would surely come your way. When it comes rolling, jump over if you can, let it hit you if you cannot jump, but get up and move on. A rugged attitude comes from a determined mind and that is what keeps you alive and going in business.

True strength isn't just about how much arsenal you've got, its also about how much shock you can absorb. By building your inner strength, you will be fortified from the asteroids in your business environment.

What is your inner strength? How is it applicable in business? Hmm...

Trust me folks, it's okay not to know everything. It's great seeking knowledge but still, we can't know it all. There's ...
30/07/2020

Trust me folks, it's okay not to know everything. It's great seeking knowledge but still, we can't know it all. There's a whole lot out there for us to explore. The beautiful thing about business is that it's a network of strings.

Although you as a leader or employee have specialised in one or more areas, it doesn't make you an island. You cannot disintegrate from the symbiotic relationship you are meant to share with your environment. The more the mix, the more growth and experience you gather, the stronger the network, the higher the probability of success.

Hire smart people so you can let them guide you. Engage professionals so you reduce the business risks and threats out there. Make informed decisions by lending your senses to the input of your team.

28/07/2020

Do you ever mean what you say when you recite the national anthem or the pledge? Come on! So, you just say the words without any sense of attachment or commitment? Why say them anyway if you feel so? Don't mind me please.

It might sound cliche, but in business, you word must be your bond. The real value of your assets surely has some intangible effects. Truth and Trust, the two Ts' that we must have as key features, rubs off on who we are and what we have. They speak volumes about your brand and the degree of relationship with your customers or business partners.

Let your Balance sheet report high Net Assets or your Working Capital reflect healthy Liquidity; if you fall short of the two Ts', its only a matter of time, you would lose everything.

Address

Redemption Crescent, Opposite Zinox Technologies, Gbagada Industrial Estate
Lagos
234

Telephone

+2348037600265

Website

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