Business Owners - are you taking advantage of new economic opportunities? Are you also maximising financial opportunities already within your organisation?
The current world economic crisis requires strong financial focus, increased agility and a broader capacity to manage increasingly complex demands. The biggest challenge is whether leaders can rise to these challenges & have the skills and experience to not just survive, but grow robust & financially stable organisations in this new world. It’s a big task, particularly now coming out of heavy government restrictions with potentially unknown sales volumes, profits and a changing cost base. The new norm seems to change weekly.
3 important questions to ask yourself:
Q1: Do you have a clear idea of your business model with different scenarios for sales, costs and profits?
Q2: If you’re looking to borrow loan funds, do you have a 1 – 3 year profit & cash forecast that’s realistic & will stand up to the scrutiny of any investor or bank?
Q3: Are you able to clearly forecast and articulate your financial plan going forward & what’s changed in the past 18 months?
If the answer to any of those 3 basic questions is NO, then what you need is some clear, unbiased and practical support from an experienced senior financial professional to gain a clear perspective. If you’re a start-up, growing rapidly or a more established SME you’ll understand the value of having knowledgeable resources in your inner circle.
Salient can add value by providing the support only when you need it, so no expensive overhead, just a very focused resource.
The most critical place to start is with a business health check on the financial position to quickly ascertain the health of the main value drivers, being REVENUE & COSTS (driving PROFITS) and CASH FLOW MANAGEMENT (driving fluidity & sustainability).
Lastly …
Q: What do we as a society, business or individual need to do differently to not repeat the same problems that got us here in the first place? Diverse thinking is part of that answer.
If you recognise that your business needs a health check on its financial position + some clear, unbiased and professional advice as to how to take it forward, then please book a call on our website for an initial complimentary call.