About This Recipe
As an entrepreneur and business owner, you can’t not understand the financials. Even if you have a bookkeeper, accountant or even a CFO you are ultimately responsible for the success of the business - and that includes healthy financials. Just like your personal trainer can’t get fit on your behalf, no one else can do the money work in your business on your behalf. But don’t despair: in this recipe, Lelmeba Phiri gives you a sound foundation from which to start your financial mastery journey. The principal of Africa Trust Group is passionate about financial fitness for entrepreneurs and knows how to keep things simple and practical. Among other topics, she sets out the four finance basics every entrepreneur has to understand, explains how to think about and work with debt, and makes it clear that budgeting and tracking expenses are non-negotiables on the road to financial fitness.
Cover These 10 Steps
Step 1: Understand Your Financials
Step 2: Set Goals And Objectives
Step 3: Create A Budget
Step 4: Monitor Cash Flow
Step 5: Manage Debt
Step 6: Control Expenses
Step 7: Increase Revenue
Step 8: Manage Inventory
Step 9: Invest Wisely
Step 10: Seek Professional Advice
Is This The Recipe For You?
Watch these videos to understand, who our Heavy Chef is, what the topic is, what mistakes entrepreneurs often make when it comes to this topic as well as the benefits it brings.
Take The Challenge
Throughout this recipe tuck into questions designed to put your newfound knowledge into action.
Watch Lelemba's bites on how to become financially fit.
Apply the knowledge from each step to help you identify how you can successfully manage your finances.
Share your answers via email for the opportunity to get some Heavy Chef advice. [email protected].
Join Lelemba Live (Online)
Okay, so now you’ve gone through Lemeba's recipe. Woop, well done!
How about the opportunity to ask Lemeba your questions on how to apply these steps to your business? Join us for a one-hour, online session to do just that. Click below. Note, the Live Recipes are for Premium Members only. Click here to upgrade your membership and get your first month free.
Who Is Our Heavy Chef?
Lelemba Phiri’s CV is an impressive read: currently a PhD candidate at the Gordon Institute of Business Science, she has a Master’s degree in development finance and is a chartered accountant with a BSc degree in applied accounting. In addition, she has learned about personal and business development from gurus such as Dr John Demartini, Roger Hamilton and Robert Kiyosaki.
Lelemba is the principal at the Africa Trust Group, which invests in women entrepreneurs and their businesses, and the operating partner for the US-based Enygma Ventures Fund that focuses on investing in women entrepreneurs in SADC. She is also a shareholder (and the current board chair) for Zoona Zambia, an African mobile payments business, and a shareholder at Africa Trust Academy, a coaching and consulting company focused on leadership and entrepreneurship development and financial literacy.
Over the course of her career, Lelemba has worked with private, public and government institutions across South Africa, Zambia, Ivory Coast, Ghana, Angola and other sub-Saharan countries.
Despite, or maybe because of, her extensive academic education and personal and professional experience and exposure, she has a gift for making complex financial matters simple and practical.
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