What are You Doing?

Well we are entering the last two weeks of 2013.  For many retail companies this will be the busiest two weeks of the year.  Before Christmas retail companies will be busy with sales and customers making the final requests (demands) for the year.  After Christmas, there will be a lot of transactions, but many of those will be returns and exchanges.  For non-retail business, this time of year usually signals a natural slowdown of business activity.  Some businesses close the last two weeks of the year.

But business owners and leaders never take time off.  They are always thinking about the future – What will business levels be next year? How will the new tax laws affect me?  How can I get everything done that needs to get done?  These and many other questions are plaguing the business owners and leaders.

Now is the good time to set out some plans for the year ahead.  Many think a plan or budget is a lot of numbers.  It can be.  Even though I deal with numbers, when making plans I’m more interested in what are the assumptions than the actual numbers.  So here are a few items to do in these last two weeks of the year.

  • Write down your assumptions that you think will happen in 2013.
  • Then write down your ideas how to respond to your assumptions.
  • Then put dates to your assumptions so you know when to have your responses ready.

But one question that seems to seldom come to mind is, unless you are in the middle of it, is how is my cash flow?  Business lives off cash.  There are only four ways to get cash – make profits, sell assets, borrow (from financial institutions or delay vendor payments) or sell company equity to investors.

So how are you going to get cash in the new year?  What are your assumptions?  What is your plan?  Are you projecting your future cash needs?  When are there going to be problems?  It’s not a matter of if, but a matter of when.  Everyone at some time will have cash problems?

At B2B CFO one of our taglines is “Cash. We Help You Get It® ”.  I understand how important cash is to a business.  Let me help you with your cash plans.  Give me a call.

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