What do you do if your small business is struggling with financial planning?

Managing cash has always been a key aspect of any business, big or small, especially when you are trying to grow. Taking control of your outgoings, scheduling when they will be paid should be straight forward, building up a good credit history is vital. Pushing terms where you can or agreeing with suppliers when they can give you better terms also important. Being tough but fair with customers to get them to pay on time also key, and you can't underestimate the value of a good credit controller. Finally being creative and looking at the different financial tools available to help plan income and expenditure from spreadsheet models to ERPs are also an investment worthwhile. As I always tell my kids planning prevents p*** poor performance.

If you can't manage your finances - then you might as well not be in business! It's really no different to how you manage your own money... --> What you earn minus what you spend! Sure, there may be a few more moving parts - but for a small business, there isn't that many in reality. 1) The first step is always to cut unnecessary expenses like software and subscriptions you don't use. 2) Then... log all of the (net after tax) money coming in. 3) And then subtract all of what you spend to make it come in, like product and staff costs. 4) Make sure that you ALWAYS put money aside as it comes in for tax/VAT. Even if this isn't 100% accurate, it will give you an idea of where you are. If you don't measure it - you cannot change it!

In small business i would rather finding idea and make another oportunities than just “wait and see”. Every data you own now is not gonna change the situation a lot. You have to make new idea ASAP

Apply for programs like the Goldman Sachs 10,000 Small Businesses program. It is absolutely free to accepted candidates. 1. Start by researching the Goldman Sachs 10,000 Small Businesses. 2. Tailor your application to highlight your business's strengths and the specific challenges you are facing in financial planning. 3. These sessions are designed to provide you with valuable insights and tools to improve your financial planning and overall business strategy. 3. Connect with other small businesses in your class. After completion, alumni network can provide you with valuable resources, advice, and connections. Apply today and make your small business big! #10KSmallBiz #MakeSmallBig #smallbusinesses #10KSBAlumni #10ksbDallasCollege

Eu recomendo aos gestores de pequenas empresas, que se esforcem para ter o controle de seu negócio na palma da m?o, ou seja, escreva e leia essa frase na sua m?o todos os dias: vender é bom, mas ter caixa é melhor! Claro que adicionado a isso, muito estudo e busca por conhecimento de práticas adequadas ao seu negócio, que tem deem suporte na gera??o de receitas e redu??o de custos.

When you have decided upon your macro goals break it down in to specific actions and results you or your team need to take to achieve the macro targets. so if you need to sell 100 widgets how many sales meetings will it take to hit that and at what conversion rate? How many conversations and pieces of content will it take to book that many meetings? make your goals and KPI/KPA's more meaningful to you and the team instead of focussing on financial metrics which are often too nebulous and likely to make your team yawn

Elaborar metas realistas e mensuráveis é crucial para o sucesso. Utilizando de forma simples a estrutura de metas SMART: 1) Defina metas claras e diretas (Específicas); 2) Que possam ser facilmente avaliadas (Mensuráveis); 3) Certifique-se de que s?o alcan?áveis com os recursos disponíveis (Atingíveis); 4) Significativas para o crescimento do negócio (Relevantes); e 5) Estabele?a um prazo para alcan?á-las (Temporais). Por exemplo, em vez de "aumentar vendas", uma meta SMART seria "aumentar as vendas em 10% nos próximos 6 meses através de marketing digital". Isso cobre 80% do que você precisa saber para estabelecer metas eficazes.

From my experience, creating a budget and cash flow forecast is crucial for effective financial planning. A budget outlines your spending based on your business goals, while a cash flow forecast predicts your cash inflows and outflows over time. Both tools help you track performance and spot gaps or issues early. I've found small business accounting software like QuickBooks or Xero invaluable for simplifying this process. They make it easy to create, update, and monitor your budget and cash flow forecast, giving you a clear picture to make informed financial decisions.

From my experience, tracking and reviewing progress is vital for financial planning. Regularly comparing actual results to your budget and cash flow forecast helps you gauge how well you're meeting your goals. It's important to evaluate your financial situation often and adjust as needed. Small business accounting software like QuickBooks or Xero is a game-changer for this, providing easy-to-read reports and dashboards that make tracking your financial data simple. This approach keeps you informed and ready to tackle any financial challenges ahead.

From my experience, seeking professional advice is crucial when your small business is struggling with financial planning. You don't have to tackle everything alone, especially if you're unsure about financial matters. A certified public accountant (CPA), bookkeeper, financial planner, or business coach can offer valuable insights, guidance, and feedback. They help you navigate tax laws, regulations, and improve your financial strategy. Their expertise has helped me make smarter decisions, stay compliant, and strengthen my business's financial health.

This is a comprehensive and thorough process, very strategic and important for businesses’ success and can’t be dealt with a single question/answer. You just have to either outsource this FP&A function to a CFO consultant or ask him to set it up for your company, implement and train qualified internal staff or hire an employee with relevant experience if it can’t be done internally by the Finance Department

E se tivessemos disponível no mercado uma plataforma digital que oferecesse solu??es de planejamento e gest?o financeira customizáveis, utilizando IA para prever cenários futuros, otimizar o fluxo de caixa, e melhorar a tomada de decis?es financeiras. Funcionaria da seguinte forma: Diagnóstico Financeiro Automatizado: Utiliza IA para analisar as finan?as da empresa, identificando pontos de melhoria; Proje??es e Simula??es Inteligentes: Emprega machine learning para fazer proje??es de fluxo de caixa e simular diferentes cenários financeiros; Dashboard Personalizável: Uma interface intuitiva que permite aos empresários monitorar indicadores chave de desempenho (KPIs), finan?as, e receber alertas em tempo real.