Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
One of the CFO services I perform is to project what cash is going to be at any point in the future based on a solid set of assumptions and “what if” scenarios. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. Here are some real life examples: I had a client who wanted to know when his cash reserves would be high enough for him to leave the business and still get a paycheck. I had a client who wanted to know if they added another product line, how would that impact their credit line? And I had a client who wanted to know what would happen to future cash flow if he closed a store. These are all questions a business and cash flow forecast can answer. And remember, the most successful business owners know their numbers!
Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
What happens when you’re experiencing one of those cashflow dips that many businesses experience where there is simply not enough cash to meet all of your financial obligations? The answer is: prioritize payments. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. The priorities of payments that I find most useful when those circumstances pop up are: First, pay employees, next, pay the government, and third, pay the landlord. Then all loan and credit card payments, then trade suppliers, then expense vendors, and then any others, including yourself. Remember, the most successful business owners know their numbers!
Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
On Wall street, uncertainty in the future of American business has a tendency to drive the stock market downward. Business owners who have uncertainty in the future direction of their business feel like their business is heading downward. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. Having clarity in what the future holds for your business and knowing how to jump over any foreseeable hurdles gives the business owner tremendous confidence and control. A business cashflow forecast is the tool of choice to increase clarity and provide the business owner with more future certainty and more control over their business. And remember, the most successful business owners know their numbers!
Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
To purchase, or not to purchase? That is the question, here is the answer: We should never ever purchase equipment unless one simple word is in play. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. That simple word is payback. Payback is defined as the length of time it takes to recover your investment. If that length of time is a year or less, the investment you make is almost a no-brainer. If it’s longer, you need to make a more technical analysis. Remember, the most successful business owners know their numbers!
