Improve your Cash Flow & Setup a Cash Flow Forecast
Mapping out your likely cash flow is critical both for access to funding and understand the impact of COVID-19. This is the fourth step for your business to thrive in times of pandemic crisis.
The first step is to get lean. Second step is to make remote working effective. And the third step is to master your finances. Please make sure to read all the coronavirus business survival guides and steps.
In order to setup an online cash flow forecast you need to follow these steps:
- Get your books up to date (bookkeeping)
- Set up a financial plan in google sheets
- Import that plan to your accounting system
- Setup online cash flow forecasting tool (like Float)
- Be able to view your future cash flow!*
*Just like all good Apple adverts we have shortened the process and setting this up quickly is a learned skill. If you need help with this then send me an email
Improve cash flow by reviewing the forecast:
- Collect funds earlier
- Delay payment where possible
- Offer a new product or service with a fast action discount
- Advance bill for new client or customer work
- Liquidate any assets you don’t need
- Get cash in by discounting, offering payment plans or offers
- Reduce overheads (as Step 1)
Even in times of pandemic crisis, improving your cash flow is still important. This the fourth step for your business to thrive. On the next step, we will talk about how you can Access Government Funding and use it to aid your business.
There are 4 ways we can help you and your business now:
If you have been affected by COVID-19 in any way at all, book an advice call here. No sales pitch, no cost – just help.
As you continue to navigate this uncertain economic environment and the government loan application process, remember that you have experts on your side. Get Simon’s Business Owner Survival Kit to simplify and expedite your path to successfully securing your funds. Get Your Toolkit Here
Access a webinar recording of Simon and Tony Robbins from last week. This strategic, tactical and timely discussion could mean the difference between a business that survives and thrives, and one that doesn’t. Watch Here
Keep up to date with all the information on COVID-19 in our resource hub here, which is being updated daily with any new information as and when it is released.