Ep12 - The Director’s Handbook Recap: Building a Business That Works for You

In this bonus episode of The Balanced Business Podcast, Nicola wraps up The Director’s Handbook series with a clear, practical overview of everything we’ve covered so far, from setting up your company and paying yourself properly, to managing VAT, understanding your accounts, and planning ahead.

It’s a perfect refresher for anyone who’s completed the series, and an ideal starting point if you’re new here and want to get up to speed quickly. Nicola shares how each part of the director’s journey connects, why your role as a director matters, and what to focus on next as you continue to grow your business.

If you’re ready to feel more confident, more informed, and more in control of your numbers, this episode will help you see how it all fits together — and how to take the next step toward building a business that truly supports your life.

What You’ll Learn:

• The key takeaways from all 11 episodes of The Director’s Handbook series.
• How each topic connects to create a clear, confident approach to business.
• Where to focus your time and energy as you move forward.

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 to our final episode of the Balanced Business Podcast, the Director's Handbook. I'm Nicola Haman from The Numbers Quarter, and today we're going to do something a little bit different. This episode is a wrap up, a recap, and a starting point all rolled into one. Whether you've listened to the whole series or you are just dropping in now and wondering where to begin, this episode will walk you through what we've covered, why it matters, and how you can use the podcast to help you build a business that works for you, not the other way round. So if you're short on time or feeling a bit overwhelmed, this is your shortcut. So let's get into it. Now this podcast series was created to fill a gap The space between being a brilliant business owner and suddenly finding yourself responsible for running a limited company. It's easy to feel like you should just know how to handle everything from tax and payroll to systems and strategy, but no one is born knowing this stuff. And the truth is, running a limited company comes with real responsibilities and also some brilliant opportunities if you know how to use them. I didn't want to make a technical podcast. I wanted to make one that felt like having a chat with someone who gets it, someone who won't bombard you with jargon, but also who won't sugarcoat the important stuff each episode in this series is designed to stand on its own, but they also build on each other. So let's walk through what we covered, what you might want to revisit, and how it all connects together. So episode one, thinking about going limited, this is where it all began. We talk about what actually means to be a limited company, not just legally, but practically. I walk you through the pros and cons, who it suits, and when it's probably not the right move just yet. So listen to this one. If you're a sole trader, wondering about the next step, you are not sure about going limited and wondering if it's worth it, and you want clarity before you commit. Episode two talked about setting your limited company up in the right way. This episode got into the nitty gritty on how to set your company up properly, and not just with company's house, but with thought and intention from naming your company to your share structure. It's more than just ticking boxes. So listen to this one. If you are setting up your company now you want to avoid common mistakes and you'd like a checklist style guide that makes setup feel doable. Episode three. This was what it really meant to be a director. Now we get into the legal and the personal side of being a director. It's more than just signing forms. There are duties, responsibilities, and honestly, a little bit of a mind shift and honestly, a little bit of a mindset shift required. So listen to this one. If you've just become a director and you feel unsure, you want to understand your legal obligations, and you need a confidence boost in this new role. Episode four to seven was more about money, tax and expenses. So episode four was money. What's the company's and what's yours? This is the one that changes everything for new directors. We talk about the line between company and personal money and how to pay yourself properly. So listen to this one. If you are not sure how to take money out of your business, if you've been treating the company bank account as your own and you want to avoid falling foul of HMRC. Episode five went into tax deadlines. What you need to know and when. Now I know we all hate deadlines, but we hate fines more. This episode was a clear, simple guide to what needs to be filed and when, with some easy systems to help you stay on top. So listen to this one. If you feel lost with all the different tax dates, you've missed a deadline in the past, and you want to plan ahead without panic Episode six looked at what you can claim as a business expense. So from stationary to staff parties, we talk about what you can claim and what you really can't. There's also a section on working from home and trivial benefits. So listen to this one. If you are nervous about what's allowed, you want to save tax without overstepping. And you need a refresher on common expenses. Episode seven looked at VAT, so when you need to register and what it means. This episode walks you through the threshold registration options, different VAT schemes, and how VAT impacts your pricing and cash flow. Listen to this one. If you are approaching the VAT threshold, you are already registered, but you still feel unsure about what it actually means, or you've been avoiding this topic completely. And then we move on to episodes eight to 11. This is control planning and Getting Help. Episode eight is Understanding your Accounts without Becoming an Accountant. This one's all about decoding your profit and loss and your balance sheet. No jargon, no panic, just helping you read your numbers so that you can make better decisions. Listen to this one if you glaze over when you look at your accounts, if you want to feel more confident with your numbers, and you're ready to stop relying purely on your gut feeling. Episode nine. Looked at planning ahead, budgeting, forecasting, and feeling in control. We move from hindsight to foresight. This episode is about creating a rhythm for planning, so you're not just reacting to problems but anticipating them. Listen to this one. If you've never created a forecast before, you want to stop the feast or famine cycle, and you are ready to think a little bit more strategically. Episode 10 talks about when to get help. So bookkeeping, payroll, VAs, and how to let go. You can't do it all, and honestly, you shouldn't. This episode helps you figure out what to outsource, when to do it, and how to let go without losing control. Listen to this one. If you are drowning in admin, you dunno what help you actually need or you are scared of losing visibility or quality. Episode 11, what good looks like, habits, systems, and staying in control. This is the big picture wrap up. It's about designing a business that gives you clarity, calm, and confidence. We talk about rhythms, routines, and what strong foundations really look like. So listen to this one. If you want to feel more on top of things, you're looking for sustainable growth, not hustle, and you're ready to feel proud of how you run your business. So where to start if you're new, if you're just finding this series. Now, here's how I recommend diving into it. If you're not limited yet, start with episode one. If you are limited but you feel lost, start with episode three or four. If your finances feel a bit messy, try episode four, five and six. If you want to grow, head to episodes nine and 11, and if you are ready to get help, episode 10 is your friend. You don't have to listen in order. Think of this series, like a reference library, dip into the topic that's most relevant to you right now, and if you've got your copy of the Director's Handbook or you've downloaded the companion workbook or director's templates, then you are already set up to get even more from this series. If you haven't, go to the numbers quarter.co.uk/book for all of the information. Each episode of the podcast brings the book to life. It's a real world conversation behind the chapters, the stories, examples, and plain English explanations that give you context, clarity, and confidence. Think of the book as your manual, the work, because your toolkit and the podcast as the conversation that ties it all together. So if you learn best by listening or you want something to keep you company whilst you work, walk, or plan, this is the why behind the how. And my final reflection, it is not about knowing everything. The goal of this series was never to turn you into an accountant. It was to help you feel like the kind of business owner who doesn't just survive, but leads. It's about giving you knowledge, yes, but also confidence. Because when you understand how your business works, when you've got clarity on your numbers, your responsibilities, your systems, everything changes. You can make decisions with more ease. You can plan ahead instead of firefighting, and you can build a business that supports your life, not one that takes over it. So thank you so much for tuning into the Balanced Business Podcast, the Director's Handbook series. I've absolutely love sharing this series with you, and I hope that it's helped you feel more informed, more in control, and more confident in your role as a director. But we are not stopping there. If you've enjoyed this podcast, I am excited to let you know that our next series is dropping. Next week, I'm going to be launching our brand new series called The Purposeful Profits. The next series is all about taking things up a level. It's for business owners who want to build something more intentional, more aligned, and more profitable without burning themselves out in the process. We will be talking strategy, mindset, planning, and sustainable growth. All the things that turn a business from something that just pays the bills into something that really supports your life. So if you are ready for that next step, make sure you hit follow or subscribe, and keep an eye out for the first episode of Purposeful Profits Dropping Next Week. Until then, I'm Nicola Haman and thank you again for listening.