Getting control of your business finances is like making sure you have a solid rudder on your ship as it travels through what can be stormy business waters. In today’s turbulent markets, it’s hard to tell what’s on the horizon and which adjustments you’ll need to make financially to keep your ship upright as you decide on the small business funding that’s right for your situation.
- Take another look at pricing and cost structure. Shopping around when you’re picking the suppliers that are best for you is a process. You arrived here by looking at other loan for business opportunities before finding we were the industry leading solution you needed to facilitate financing. That process should include how you choose suppliers. Staying on top of bill collections is another business practice you might need to tweak.
- Take another look at your cash flow with the right tool. The kind of small business funding we can advise you on goes a lot further when you can keep an eye on the ebb and flow of your money with a simple cash flow planner. A spreadsheet works well here so you can see ahead to times of tight cash flow and predict other financing needs like new equipment.
- Take another look at your KPIs. Keep an eye on your key performance indicators (KPIs) through a performance dashboard. Make sure to include average days payable and of course your sales pipeline and average days collection as indicators.
Of course, you might need to adjust your attitude towards cash flow and numbers to make everything sail a little more smoothly. It’s important to keep in mind that the numbers never lie and having an objective way to view them will give you the necessary information to adjust accordingly.