Implement these and you will achieve FINANCIAL PEACE!

  • Prepare a 13 weeks cash flow budget, this is a forecast you don’t know the future exactly including timing of receipts hitting your bank account, so be conservative!
  • Include everything including all taxes and your salary or personal drawings, be honest
  • Update your Cash Flow budget weekly, record the actual banking and payments for last week and add a new week 13 forecast. This is called a Rolling Cash Flow
  • Review your Rolling Cash Flow weekly together with your Financial Controller or inhouse Accountant/Bookkeeper
  • Make the necessary adjustments to your cash flow to stay within your bank account limit. This may include deferring some payments, making payment arrangements, etc
  • Work out what the 3 biggest Root Causes of your Cash Flow problems are, put a $ value on each of them to your cash flow, and document them
  • Focus on fixing the 3 biggest root causes
  • Determine the right strategies to remedy each of these 3 root causes
  • Take Action NOW
  • The 5 Pillars of a Healthy Business are as follows, you need to score 7 out of 10 for all 5
    1. Right Numbers
    2. Right People
    3. Right Processes
    4. Right Business Model
    5. Strong Growth
  • This could be one of the most important decisions you ever make in your business career, but it will cost
  • Your chosen professional firm needs to be an all round firm specialising in turning around SME businesses, not just tax accounting, but marketing strategy, sales, operational excellence, and management accounting. They must be hands on to implement a true and sustainable turnaround in your business
  • Perhaps Business Turnaround Services could be your choice as specialists in implementing SME turnarounds
  • Business Turnaround Services are passionate about driving performance through your business

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