Knowledge Centre

Business Strategy 

1. What You Need to Know  

Strategy is about knowing where you want to go, and how you’ll measure if you’re getting there. 
 

Accountants help business owners translate personal and financial goals into clear performance indicators. Instead of vague ambitions, you get dashboards and KPIs that track performance in real time, so you know when to adjust before small issues become major setbacks.. 

Set clear goals, track your progress, and steer your business with confidence. 

2. Why It Matters to You

The difference between drifting and growing is strategy. 
Keeps you focused on what really drives profits. 
Gives you dashboards to track results at a glance. 
Spots problems early, before they become cash drains. 
Makes banks, funders, and investors take you more seriously. 

3. Frameworks, Standards, or References 

Good strategy combines proven frameworks with financial discipline. 

  • Frameworks to use: Balanced Scorecard (linking goals to KPIs), SWOT (strengths/weaknesses), PESTLE (external risks). 

  • Standards & governance: King IV (strategic governance), IFRS for SMEs (management reporting). 

  • References: CIBA CPD modules on dashboards and management reporting. 

  • What your accountant will actually do: 

  • Draft a Balanced Scorecard tailored to your business. 

  • Use SWOT to stress-test your growth plan. 

  • Build dashboards that link KPIs directly to financial data. 

  • Review results with you quarterly and adjust strategy. 

4. How to Apply  

Steps to put strategy into action with your accountant: 

  1. Define your personal, financial, and business goals. 

  2. Work with your accountant to convert them into measurable KPIs. 

  3. Set up dashboards for revenue, costs, and cash flow. 

  4. Review progress monthly and adjust when off target. 

  5. Share dashboards with banks or investors to build credibility. 

5. Common Mistakes to Avoid 

Don’t let these strategy slip-ups derail you: 

  • Vague goals like “make more money” → Set specific, measurable targets. 

  • Tracking too many KPIs → Focus on the 5–7 that matter most. 

  • Ignoring dashboards → Review them regularly, not once a year. 

  • Not linking KPIs to financials → Always anchor them in real numbers.