Every founder has a team behind them, working together to make the whole business successful. If you're a business owner, you care not only about growing your company but also about your employees' well-being. This includes making sure they earn a living wage and have the support they need. But to make such a big change, you must first ensure your business is prepared. That's where financial planning comes in, a crucial part of building a sustainable business.
Over the past four episodes, the Living Wage Series has showcased conversations with remarkable women in business, delving into the implementation of living wages. As we conclude this series, our host, Christina Sjahli, reflects on the valuable insights and experiences shared by each guest. She also emphasizes a critical aspect — the significance of financial planning. As a CFO, Christina breaks down the essential steps in financial planning that empower you to make significant changes like introducing a living wage.
If you're keen to ensure your business is ready to start the journey towards a living wage, join Christina in this last episode of the Living Wage Podcast Series.
3 reasons why you should listen to the full episode:
- Recall meaningful insights from the past four episodes of the Living Wage Series.
- Understand the importance of financial planning as a business owner.
- Follow the steps of financial planning to make sure you’re ready to implement a living wage or make any big change in your business.
Episode Highlights
- [00:00] Looking Back At The Living Wage Series Episodes
- [03:10] Series Highlight: The Role Of Financial Planning in Implementing Living Wages
- [04:09] Step 1: Understand Your Overall Business Financial Health
- [05:56] Step 2: Perform Costing Exercise
- [06:55] Step 3: Evaluate Your Pricing
- [07:49] Step 4: Prepare a Financial Forecast
- [08:58] Step 5: Prepare a What-If Analysis
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