OLIVIA’S NUMBERS ADVICE FOR START-UPS

Even if you have the best idea or concept, get familiar with the numbers quickly. Invest in a good accountant and accounting software and learn everything there is to know around margins, volume, and realistically if your idea will make money, and when.

Cashflow statements and Profit and Loss projections are always an estimate, but it's better to dive into a new venture with your eyes wide open.

Small businesses consume a lot of set-up costs that are often overlooked with the excitement of a something new. I purchased Xero in the first year of my business, which has been huge in helping see how the business is performing. It provides live data and great tools to help produce reports and track cashflow.