MyCake is an online toolkit to help you manage the financial side of your business simply and easily. So if you see commerce as a valid output for your creative endeavours then MyCake is here to help you make the most of it.
We’re here to help you become better acquainted with the ways in which money flows into and out of your business and how your actions cause these ebbs and flows. By understanding the connection between your actions and the flow of cash through your business you’ll be in a better position to adjust the way you do things … so if it feels like a rollercoaster at the moment you’ll be pleased to know that you have the power to change this!
Through a better understanding of the connection between your actions and your finances you’ll grow your knowledge of what impacts how you price your products and services. Wouldn’t it be great to feel confident in your prices? How would it feel to know that you’ve taken into account all the costs of production and valued your time highly enough that, provided you meet your sales goals, you’ll see enough profit to both develop the business and pay you a wage. Whilst lack of cash flow can kill a business quickly poor profitability can kill a business slowly and painfully and the stress on the business takes a heavy toll on the entrepreneur. Great profitability on the other hand not only allows you to revel in your successes but means that you have enough funds to invest in your latest ideas and bring these to fruition as well. So profit means sustenance and freedom for you and your business.
Planning a budget for the coming year is a great way to set goals for your business, keeping your MyCake account up to date helps you see how you are progressing towards these goals and will help you see what’s driving your over or under-achievement i.e. whilst it’s great to achieve more sales than you’ve expected if you put your costs through the roof in the process you’ll feel that you deserve champagne but can only afford beans on toast.
It is of course hard to know whether the expectations you have of your business are reasonable or not. MyCake can help in a couple of ways. Firstly MyCake enables you to look at your sales and expenses (as a graph or as figures) over different time periods … this means that you can look at a period that seems ‘normal’ and compare it to other less normal times.