Fix Your Finances

The COVID-19 global pandemic is a wake-up call to ALL business owners to take responsibility for their company finances.

I posted that financial advisors are responsible for the companies they work with to have good financial plans, including a 13-week cash flow model. Now, I am putting the responsibility 100% onto business owners. There are no more excuses.

For too long business owners have said...
"It's not about the money, it's about the people."

"I do it for the love of my craft."

"Someone else can deal with the finances."

"I want to be my own boss, but so I decide that I only want basic bookkeeping."

Now a tiny virus has told you that you are wrong.

You are in business. Business is about the numbers.

Not only numbers, but if you don't have money, you can't...

...help people
...work your craft
...let someone else worry
...be your own boss

If you survive this downturn, fix your finances.

Start with a cash flow model that tells you how long you can survive. (Put "Cashflow" in the comments if you...

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Fortnight Cash Flow with David Safeer

 

On this episode of Fortnight Cash Flow, David talks with DryRun's Jeremy Burke discussing simple cash flow optimization techniques that you can implement in your own business. 

 

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Get Your Life Back with Cash Flow Management

Cash flow management isn’t about money. It’s about getting your life back.

I’ve worked with business owners who were sick with concern, fear, and doubt about how they will make payroll, meet bank covenants, and literally keep the lights on. They've told me with tears in their eyes that they don't know if they can survive past another payroll. Their spouses express concern about the health and well-being of their partner.

By focusing on cash flow - when and where cash was coming and going from the business - they were able to turn around the business completely, or stay afloat long enough to sell the business.

And yes, some businesses fail, but it’s because of a fundamentally unsound and unsustainable business model.

If you or someone you know have good sales and margins, but are struggling to have the cash to pay the bills, get help.

Open up to someone who can integrate and monitor a cash flow model with your company’s financials and help you make decisions...

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Payne Points of Interest #95 In regards to COVID-19

 

"Lenders prefer cash flow models, not just a profit and loss statement."

 

Click here for original podcast page

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10 Reasons Why Your Business Will Fail without Good Bookkeeping

Businesses can only thrive when they have outstanding bookkeeping. Good bookkeeping is the basis of a systematic cash management program tailored to specific business needs. It also makes sure that the rest of the business is running smoothly because cash is available, and documentation is done correctly.

Without good bookkeeping a business will fail.

Don’t believe me? Here are the reasons that any business will fail without good bookkeeping:

  1. A cash crisis is guaranteed
  2. Credit lines will be reduced and terminated
  3. Vendor relationships will be destroyed
  4. Client relationships will be ruined
  5. Constant chaos will haunt the company
  6. The IRS will become a nightmare
  7. Investors will sue and rebel
  8. The best employees will leave
  9. An owner’s health will deteriorate
  10. All hope will be lost

 

I’ve shown this list to a few people and they think I’m being harsh. What do you think? Read my explanations and then decide…

A cash crisis is guaranteed

If a company...

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