Ep11 - What Does Good Look Like? Building a Calm, Confident and Well-Run Business

After ten episodes of learning the essentials of running a Limited company, it’s time to bring it all together. In this final episode of The Director’s Handbook series, Nicola looks at what a well-run business really looks like, one that gives you clarity, calm and control rather than chaos and stress.

You’ll discover the simple habits, systems and check-ins that help you stay organised without becoming a spreadsheet addict, plus the mindset shifts that turn financial overwhelm into confidence. Nicola also shares how to build structure into your weeks, months and quarters so you can plan ahead, stay compliant, and actually enjoy being a director.

If you’ve ever wondered what “good” looks like in practice — not perfect, but purposeful — this episode will help you find your balance and start leading your business with confidence.

What You’ll Learn:

• The key habits and financial routines that keep a business calm and in control.
• The essential systems every Limited company should have in place.
• How to build financial confidence without chasing perfection.
• Simple ways to reflect, plan and grow with purpose.

Resources & Links:

I’ve written a book that expands on the topics in this podcast and comes with a companion guide. Learn more at www.thenumbersquarter.co.uk/book.

About the Podcast:

The Balanced Business – The Director’s Handbook is a 12‑part podcast series hosted by Bedford‑based Chartered Accountant Nicola Hageman. Designed for UK small business owners and company directors, the podcast explains how to run a Limited company with more clarity, confidence, and control. Each episode covers a practical topic – from choosing your business structure and staying compliant with HMRC to budgeting, VAT, systems, and delegating. The series is based on Nicola’s book and companion guide, available at www.thenumbersquarter.co.uk/book.

About Nicola and The Numbers Quarter:

Nicola Hageman is the founder of The Numbers Quarter, a friendly and approachable accountancy practice based in Bedford. She specialises in helping owner‑managed businesses grow their profits, plan for the future, and reduce stress. Nicola is known for her plain‑speaking advice and passion for aligning personal and business goals.

Connect with Nicola:

• Instagram – www.instagram.com/nicola_hageman
• LinkedIn – www.linkedin.com/in/nicolahageman
• Website – www.thenumbersquarter.co.uk

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Transcript

0:14

Hello, and welcome back to the Balanced Business Podcast. I'm Nicola Hageman from the Numbers Quarter, and you've made it to episode 11 of the Director's Handbook. This is the final episode in this part of the podcast. Over the last 10 episodes, we've walked through key things that every limited company director should understand from setting up your company to paying yourself properly, claiming expenses, staying on top of tax, understanding your accounts, and planning ahead And today we're gonna bring it all together with a conversation that I think every business owner needs to have, and that is what does good actually look like? Because it's one thing to know the rules and the deadlines, but it's another thing entirely to feel like you are in control, to have the confidence in your numbers, to feel calm when tax season rolls around, to feel like your business is supporting your life and not constantly draining it. So in this final episode, I want to talk about what a well run business actually looks like, the habits and systems that make the biggest difference, How to avoid falling into chaos again and how to stay financially confident without becoming a spreadsheet junkie. So let's dive in. So what does good actually look like? Now, before I start listing things out, I want to make this really clear. Good doesn't mean perfect. We are not talking about a color coded finance folder or knowing your cashflow to the penny every day. When I talk about good, I mean you know what's going on in your business financially. You're not living in fear of missing something important. You are making decisions based on facts, not just gut feelings. You've got space to think, plan and grow, not just survive. And that's where we're aiming for, not perfection, not spreadsheets for the sake of it. Just a business that runs smoothly and gives you the freedom to focus on what really matters. And it starts with consistency. One of the biggest difference I see between businesses that feel calm and in control versus those that feel chaotic is consistency. Not doing everything all the time, but doing the right things regularly. So here are a few of those key habits and check-ins that can really help you stay in control. Let's start small once a week, even for just 15 minutes, I suggest doing a basic check-in with yourself or your team. You might review what's been invoiced and what's still due. Look at what's come in, what's gone out of the bank. Chase any overdue payments. Update your task list, especially your financial tasks like your VAT or your payroll, and glance at your forecast to see if anything's shifted. This stops things from building up. It gives you a heads up if anything is going off track, and it keeps you in the driving seat without it becoming overwhelming. And then once a month, go a little deeper. You don't have to become your own finance team. Just set an hour aside to look at the bigger picture, and here's what that could look like. Review your profit and loss for the month Did Did you make what you expected? Compare your actual numbers to your budget or your forecast. Check your business bank account versus your upcoming commitments. Make sure your bookkeeping's up to date. Set aside money for tax, even if it's just a rough estimate, reflect on what's worked financially and what didn't. This is your time to ask, are we on track? And if not, what needs to change?. It's not about blaming yourself, it's about awareness. Knowing is always better than guessing. And then once a quarter, I want you to zoom out even further. Quarterly planning helps you connect your day-to-day finances with your bigger goals. It's where you start asking, how are we tracking for the year? Are we on course to hit our profit goals? Is our pricing still working? What's changed in the business or the market? And what do we want the next 90 days to look like? This is also a great time to check things like your forecast. Does it need updating your VAT timeline? Is a return due soon? Your salary and your dividend balance? Do we need to adjust anything and any planned time off or big expenses? Can we budget for them now? It gives you a moment to breathe, to step outta the weeds and think like a director, not just a doer. And then of course we've got the big one year end. Year end shouldn't just be about filing your accounts and paying your tax. It's also a time to reflect, reset and get strategic. Here are a few questions that I like to ask clients at year end. So did the business deliver what you needed? That's financially, emotionally, and practically, what's one thing that went really well? What's one thing you would change? How much do you want to take home in the next year, and what needs to shift in your business to make that happen? This kind of reflection, even just once a year, can completely change the direction of your business because it's not just about growth for growth's sake. It's about making sure that your business is helping you create the life you actually want. Okay. Let's talk about systems. Not in a boring back office way, but in a way that makes your life easier. So here are some of the key ones that I recommend having in place for every limited company. Bookkeeping software, use something like zero QuickBooks or free agent, whatever suits your style. Make sure it's connected to your bank account and it's VAT compliant. If you're registered, this is your financial hub. And then get a digital filing system. Keep all your receipts, invoices, and statements in one place. Ideally, cloud-based like Google Drive or Dropbox. No more digging through emails at year end and then a financial dashboard or summary, and this can be a simple spreadsheet or a page in your software that shows you your sales this month, your expenses this month, your bank balance, your tax saving pot, and your forecast for the next three months. Even just seeing those five things regularly can give you so much more clarity. And then finally, a calendar of your key dates. Put your tax deadlines, company's house filing, VAT, returns, payroll dates, all of it into a calendar with reminders. That way you're not scrambling about or forgetting things last minute. Now I want to switch gears slightly because running a balanced business isn't just about systems. It's also about mindset. How you think about money, about tax, about success that all shapes how you behave. So here are a few reminders that I wanted to leave you with. Asking for help is not a weakness. Whether it's hiring a bookkeeper, outsourcing your payroll, or asking your accountant to explain something twice, it's a strength You are building a support system. You are not giving up control. Number two, you don't have to know everything. The goal is confidence, not perfection. You are allowed to say, I don't get that yet, and then you can learn. And number three, calm is a strategy. You don't make good decisions when you're stressed. Financial calm isn't fluffy. It's powerful. It gives you head space to lead. And what I want for you, so as we wrap up this whole series, I want to tell you what I really want for you as a director. I want you to feel confident about your role and your responsibilities. I want you to feel informed about what's happening financially. I want you to feel supported and not isolated, and I want you to feel aligned where your business is actually serving you and your life. You don't need to run the perfect business. You don't need to know all the rules by heart. You just need to care enough to check in, to ask questions, to stay engaged, and to keep building habits that help you feel calm and in control. You are already doing more than you think just by listening to something like this. And where do you go from here? So now you've completed the director's handbook. Where do you go next? Well, first celebrate, you've taken the time to understand your business properly. That's no small thing. Second, take one, action. Just one. Maybe you'll set up a weekly money check-in, or maybe you'll book a call with your accountant. Maybe you'll finally open up that VAT letter. Small actions lead to big shifts. And third, keep listening. The next phase of the balanced business is going to be all about profit, purpose, and growth. We are going to be talking about increasing profitability without working more. Aligning your business with your personal goals, building for the long term, not just for this month, and creating a business that gives you more time, more money, and less stress because compliance is just the beginning and now we get to build something better. Thank you so much for joining me on this journey through the Director's Handbook. I hope it's helped you feel more confident, more informed, and more in control If you found these episodes useful, feel free to share them with another business owner who might need a boost or reach out. If there's a topic that you'd love me to cover in future episodes, i'm Nicola Hageman from the Numbers Quarter, and this has been The Balanced Business Podcast with the Director's Handbook series. I look forward to seeing you next time.