Reigniting Your Business Finances: How Flame Academy Helps You Master the Numbers

At Flame Academy, we believe that understanding your finances isn't just for big corporations — it's a crucial skill for every business owner who wants to build a stable, thriving company. I’m Austin Green, founder of Flame Academy, and I’m passionate about helping entrepreneurs shift from fear to excitement when it comes to managing their money.

Too often, I see small business owners making decisions based purely on gut feeling, emotion, or immediate operational needs. But the truth is, solid decision-making comes from having solid financial foundations. Big companies place financial analysis right at the center of their strategies, and there's no reason small and medium-sized enterprises (SMEs) can't do the same.

One of the biggest shifts we teach at Flame Academy is moving from reactive to proactive financial management. Many SMEs spend their time firefighting daily problems, and finances only get attention when there's an issue. In contrast, large businesses anticipate future trends, using financial data to guide every move. It's this proactive mindset that allows businesses not just to survive, but to scale.

So how do you get started? It begins with mastering your bookkeeping. Whether you're just launching or running an established company, accurate bookkeeping is non-negotiable. We recommend setting up a powerful online accounting system like Xero, but software alone isn't enough. You need a disciplined, curious bookkeeper who actively questions where transactions belong — not someone who’s just clearing a pile of invoices.

Consistent bookkeeping means getting sales and supplier invoices into your system promptly, ideally within a week of month-end. This discipline creates an accurate profit and loss (P&L) report, providing real insight into how your business is performing.

Cash collection is another essential focus. Many entrepreneurs think issuing an invoice means the cash will "magically" appear. But unless you have a strong system for debt collection, your cash flow will suffer. In large companies, collecting money is a clearly defined responsibility. In SMEs, you must build that same rigor — because slow cash collection impacts payroll, supplier relationships, and even the survival of the business.

I’ve always prioritized making payroll on time for our cleaning companies — even with over 150 staff. Being late by even a single day could shatter trust, leading to demoralized teams and operational chaos. If you want your business to grow, cash management isn't a “nice to have,” it's a must.

Once you’ve built good bookkeeping habits and cash discipline, you're ready to use that data to predict and plan — not just react. At Flame Academy, we show you how to run quarterly management reports from systems like Xero: profit and loss, balance sheet, aged debtors, and aged creditors. These five or six pages of numbers, reviewed every three months, give you full visibility. You'll know where you stand — and more importantly, where you're going.

Financial management is not just about looking back; it's about setting the future. We encourage every business owner to get clear on their "end game." Are you building a lifestyle business? Planning to scale and sell? Want to leave a legacy? When you start with the end in mind, your financial strategy becomes a tool to achieve that vision.

At Flame Academy, we also focus on non-financial metrics that drive financial results. For example, it's not just about how much you sell — it's how you generate leads, how you convert them, how often customers buy, how much they spend, and how long they stay. Understanding and optimizing these stages can dramatically increase your revenue without simply "working harder."

One story that sticks with me is from a fish wholesaler I worked with. For 20 years, they ran their business "blind," only using part of their accounting software. After a few months of training and process changes, they could see, for the first time, exactly where profits were coming from, where costs were leaking, and what steps to take to improve. Within three months, they were planning their next move: whether to sell, expand, or simply become more profitable.

This transformation is not about complex theories. It’s about:

• Installing a robust accounting system like Xero

• Hiring the right bookkeeper with curiosity and discipline

• Defining roles and responsibilities across the team

• Running regular financial reviews

• Using financial data to drive operational decisions

• Forecasting cash flow and planning for future investments

And perhaps most importantly, it’s about overcoming the fear of finance. We help entrepreneurs at Flame Academy pivot from anxiety to empowerment when it comes to numbers. It's not about being a math genius. It's about being curious, willing to learn, and committed to understanding your business at a deeper level.

In our courses and coaching sessions, we go step-by-step — meeting you exactly where you are. We work with you to build confidence so you can tell the financial story of your business, not just to yourself, but to potential investors, lenders, or partners.

The truth is, your finances are the story of your business. If you can read that story clearly, you can write the next chapter exactly the way you want it.

At Flame Academy, we’re here to reignite your passion for your business — and that starts by mastering your finances.