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!