Cashflow management is all about understanding and controlling the money coming in and going out of your business. We help you create detailed forecasts that predict your cashflow for the next six weeks and update them weekly. This ensures you always know your financial position and can plan for future expenses and income.
Benefits: By managing your cashflow effectively, you can avoid financial shortfalls, ensure timely bill payments, and make informed business decisions.
Our optimization approach to your profits ensures you prioritize profit by managing your revenue, expenses, and savings effectively. We help you allocate funds to profit first, then to expenses, ensuring you’re always ready.
Benefits: This approach helps you build a sustainable and profitable business by focusing on profitability first and ensuring that all other financial aspects align with this priority.
KPIs (Key Performance Indicators) are measurable values that show how effectively your business is achieving its key objectives. We track and analyze these indicators to help you understand your business’s performance. Benchmarking compares your KPIs to industry standards, or competitors, to see how your business stacks up.
Benefit: Tracking KPIs and benchmarking help you identify areas for improvement, set realistic goals, and measure your progress, ultimately driving better business performance.
A local house of worship had consistent expenses but unpredictable offerings income.
We implemented cashflow management by forecasting their income and expenses for six weeks and updating it weekly. Here is what we did:
The house of worship gained a clear understanding of their financial position, managed their expenses better, and planned for future projects.
A plumber, independent contractor, wanted to understand how they were performing compared to others in their industry.
We identified and tracked key performance indicators, then benchmarked these against industry standards. Here is what we did:
The provider gained insights into their performance, identified areas for improvement, and set realistic goals, leading to enhanced business performance and competitiveness.
As the [sole] owner of, and worker bee at, Noble Numbers Solutions, Jamain struggled with inconsistent income and managing expenses, often forgetting to set aside funds to cover quarterly estimated federal deposits.
We decided to follow the profit first approach, allocating revenue to profit first, then to essential expenses such as estimated taxes payments and operational expenses. Here is what we did:
After taking these steps, Jamain achieved a healthier financial balance, with consistent profits and better expense management, leading to sustainable business growth and stability.
Can Cashflow Management help my business during seasonal fluctuations?
Yes, cashflow management is especially useful during seasonal fluctuations. By forecasting cash flows and planning for changes in income and expenses, it helps your business maintain stability and avoid cash shortages during low revenue periods, ensuring smooth operations throughout the year.
What initial steps should I take to start tracking KPIs?
To start tracking KPIs, first identify the most important metrics that align with your business goals. Then, set specific, measurable targets for each KPI, and establish a system for collecting and analyzing data. Lastly, make sure to regularly review your KPIs to monitor progress and make necessary adjustments.
How do I determine the right percentages for the profit optimization approach?
Determining the right percentages for this approach involves analyzing your current financial situation, including revenue, expenses, and profit margins. Start with the suggested percentages (which are a guidelines) and adjust based on your business’s specific needs and financial goals.