The SME Clutch Tile - A Simple Way to Stay on Top of Your Business Goals

For small business owners, keeping track of your goals can be overwhelming, especially when you're juggling many tasks. 

The SME Clutch tile provides a simple yet effective way to monitor your progress. This guide explains the unique features of the SME Clutch tile, along with various methodologies and how a strong partnership with your bookkeeper can lead to greater success.

What is the SME Clutch Tile?

The SME Clutch tile is designed to help you focus on the difference between your goals and the actual figures for the month1. This unique design allows you to quickly see if you are on track, and where you need to focus your efforts. It is designed around the three core business goals: Profit, Cash and Growth. Each of these goals has three associated measures, and you can select which measure you want to focus on.

The tile displays:

• The difference between your goal and actual figures
• The name of the measure
• The goal and the actual figure for the month
• A visual display to show the current focus of your business

This approach allows you, your bookkeeper, and advisors to focus on the same metrics, regardless of your business type14.

Why is the SME Clutch Tile Important?

• Simplicity: The tile offers a condensed view of the most important goals and measures.
• Focus on Difference: Instead of being overwhelmed by numbers, you see the difference between your goal and the current position1. This makes progress more tangible.
• Clarity: The tile presents information in a standard, easy-to-explain format.
• Efficiency: It allows for quick understanding, saving time for busy business owners.
• Shared Metrics: The tile provides a common view for business owners, bookkeepers, and advisors to focus on the same metrics.
• Accountability: By clearly displaying progress, the tile helps keep you accountable for your business goal..

Key Areas Displayed on the SME Clutch Tile

The tile is structured around the three core goals of any business:

• Profit: This goal focuses on the overall profitability of your business. 
• Cash: This goal ensures you have enough cash to operate daily. 
• Growth: This goal is all about the expansion and progress of your business.

Methodologies Supported by the SME Clutch Tile

Goal Setting

The SME Clutch tile encourages setting clear and specific goals for each measure.

Regular Tracking

The tile is designed to be updated monthly, allowing you to regularly track progress.

Focus on a Single Measure

The tile helps you select one measure to focus on each month or quarter.

Accountability

Sharing the tile with your bookkeeper or advisor ensures a shared understanding of progress and allows for accountability.

Visual Tracking

The tile uses a simple display format so you can quickly see the key metrics, without having to understand complex reports.

SME Clutch Tile in Action

Profit

Sarah, a bakery owner, aims to improve her Profit. The SME Clutch tile shows her that she is £1,000 below her goal. This encourages her to look at how she can improve this metric in the next month.

Cash

John, a small retail business owner, focuses on reducing his Average debtor days. The SME Clutch tile shows that the actual figure is 10 days higher than his goal. He then implements a system to send payment reminders.

Growth

Amelia, a freelance marketing consultant, wants to increase her Average value of invoices. The SME Clutch tile displays the actual as £200 less than her target. This encourages her to look at how she can increase the average invoice value.

The Power of Collaboration with Your Bookkeeper

Your bookkeeper is essential for using the SME Clutch tile effectively:

Data Updates 

Bookkeepers can update the tile each month using data from your accounting software.

Shared Understanding

Both you and your bookkeeper can see the same key metrics14.

Financial Insights

Bookkeepers can provide additional insights into the financial data and help you make informed decisions.

Accountability Partner

They can help keep you accountable for your goals and progress.

A Tool for Continuous Improvement

The SME Clutch tile is a tool that allows you to focus on key metrics, review your progress, and quickly identify areas for improvement. By integrating the tile into your monthly routine, you can stay on track and work towards your financial goals. By clearly displaying progress, the tile helps keep you accountable for your business goals.

How Profitable Path and SME Clutch Can Help

The Profitable Path provides the financial literacy you need to understand key metrics, set goals, and improve your business’s financial performance. 

SME Clutch then takes this understanding and provides a practical tool for visualising the key metrics. By connecting directly to your accounting software and using the unique tile design, SME Clutch provides a simple and effective way to monitor your business goals. This collaborative approach ensures you are always on the path to greater success. 

Together, they empower you and your bookkeeper to collaborate, make informed decisions, and achieve greater financial success.