Client WIN....Will You Be Our Next?!

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Happy Sunday!

We are adjusting The Bottom Line slightly today and taking a slightly different approach where we talk more about one of our client’s recent WINS and why you need to be the next 😀😀

I hope all of you had a great 4th of July and was able to spend some time with family and friends. I know we had a great one over here at the Guernsey Household. Check out this short clip below of our youngest seeing larger fireworks for the first time…..you won’t be disappointed!

So what I wanted to cover today is a client win that deals with managing cash flow. As you know, cash is king! Understanding the flow of your business when it comes to cash management is critical and something you need to be in tune with. Whether your business is making $1-10k a month or $100M+ I’ve been able to help make strategic changes to take care of those businesses. For reference, my last two full-time roles have been with $1B+ businesses where I’ve had direct involvement with managing the cash flow process. I truly love this piece of business!

A client of mine was struggling to understand where money was being spent. Understandable as they were not actively engaged in any cash forecasting, planning, or development. Time to change that! We got right to work with this client and began looking into what’s taking place daily, weekly, monthly, quarterly, and annually that would drive cash flow changes. Once we have a better understanding of the larger picture, we dive into the nitty gritty of the day to day management.

Being able to develop a cash flow forecast/plan for them to follow and update was huge. We quickly identified areas where expenditures could be reduced or completely cut out from their business. We then looked at the incoming cash (receivables) and found that this process was not being managed in any shape or form like it should. Did I mention I LOVE working on AR/Collections and how that overall process should be outlined for businesses? Now you do so if you want a hand in this and want to collect faster, [email protected].

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Once this groundwork was laid out for them on cashflow planning, I began working on training their staff on how to properly use the files built to their advantage. They are a company that prefers Google Sheets for integration purposes, so we built out everything with Sheets for them vs within their ERP system (limited/smaller ERP).

The way we structured this cash forecasting was basically through a rolling 13 week forecast that is updated daily by their accounting team. They track incoming and outgoing cash daily which ties back to their bank. If you are newer to this method, it is a game changer when closing the month or when you need to file taxes. Your tax accountant will think you for having everything reconciled and tied back monthly on clean docs.

Then we look forward 13 weeks to know what’s coming at us as far as larger capital expenditures, loan payments, payroll, monthly expenses, expected incoming cash, etc. so we can begin that planning to know when payments need to go out and when we may have higher incoming cash weeks.

Forecast your receivables. < ——— This will be a whole other newsletter or call with your team. If you aren’t analyzing this after you close a month and putting together a game plan for collections the following month, you should be 🙂 .

So how much time does the daily updates take? 30 minutes.

So how much time to actually build out a 13 week? 1-2 hours initially.

How much money can you save? Thousand or Millions depending on business size.

We would love to help you develop these planning processes for your business so you can meet your annual financial goals you’ve set or like this client, blow those goals out of the water! Many leaders think this would need to be a full-time employee and that’s really not the case. You might not be in a position to hire a full-time team member and that’s ok. This type of analysis is something we specialize in and can deliver to you and your team as needed. Call today to learn more and get an instant quote.

📲 812-207-1863

📧 [email protected] 

Schedule a call today with me through Calendly, linked below.

Thanks for reading today and if you are like me and LOVE to write newsletters or blogs, you should 10000% check out Beehiiv as a platform. Learn more here and give them a try. I have loved making the switch to this platform from another very popular platform used by millions. Beehiiv is making moves and changing this way of communicating with a community! Go check it out!

Looking for other sources to help you, your business, and your team? Check these out as you may find them super helpful to your business or personal life!