If you own a small or medium sized business in the UK and you're finding it difficult to manage your cash, I'd like to talk to you to see if I can help by acting as your cash flow coach and mentor.
The Stress Of Cash Flow Problems
Thinking about your cash flow and how you can improve it may be one of those activities you've been putting off but feeling guilty about it.
You know it's important to have a cash flow forecast and manage your cash flow because that's what all the books say but you're not sure how to do it effectively.
And it doesn't feel as exciting as thinking about new ways to market and promote your business.
And it's not as rewarding as doing whatever you do to solve the problems of your customers.
But, and it's a big BUT, you might have reached the stage where you can't ignore cash flow issues.
You see, when cash becomes a problem, it's the only thing that matters.
The truth is...
NO Cash..... No Business.
I Might Be Able To Help By Working As Your Cash Flow Coach
My name is Paul Simister and I'm a chartered accountant, certified Guerrilla Marketing Coach and I have an MBA.
I have two main interests:
- Helping businesses differentiate themselves from their competitors in ways that are valued by customers. This is the long term, strategic approach to having a successful business.
- Helping businesses quickly increase their profit and cash flow with short term, tactical improvements.
In a business turnaround, both sets of skills are needed to buy time for the longer term solution to work.
What Is A Cash Flow Coach?
In the past I've provided finance for non-financial managers training but that's a one-off session where I provide the theory and some practical tips.
I've also prepared a lot of cash flow forecasts from one-man-band businesses all the way through to PLC groups.
Cash flow coaching sits in the middle.
It's more hands-on and has much more involvement than the training but instead of me preparing the cash forecasts, I'm working through you, the business owner and if you have one, a bookkeeper or accountant.
As your cash flow coach I'll:
- Improve your understanding of finance and the difference between profit and cash flow.
- Make sure you understand how profit is created by understanding break even point analysis.
- Teach you and your staff how to forecast cash so that you can identify any problems early.
- Teach you how to manage your cash flow and solve the cash flow problems.
- Continue to support you and your business until you're out of difficulty or you're confident you've mastered planning and controlling your finance.
Email me at firstname.lastname@example.org and we can set up a time to talk on the telephone.
Why Businesses Have Cash Flow Problems
So why do you have a cash flow problem?
There are usually a few reasons:
- You're trying to manage your business on a shoestring from the start. This doesn't give you any buffer at all for anything to go wrong and means you have to be cash positive and profitable from day 1.
- You have made some unwise decisions because you don't understand finance in general and cash flow in particular. This often involves spending too lavishly at the beginning or you've agreed some unfavourable credit terms with customers and suppliers that create a big funding problem.
- Your business is not trading profitably. Over time that will drain cash away. The bigger the losses your business makes, the quicker the cash flow problem will appear.
- You have bad cash flow habits. You are slow to invoice customers and you don't chase or enforce regular payments. Some businesses make bad stock purchasing decisions because the owners are attracted by the volume discounts.
- You didn't predict an occasional payment in your "back of a fag packet" forecast that may only exist in your head. Some payments only happen quarterly, six monthly or annually and it can be a shock when they arise.
If any of these reasons sound familiar and you want to get to grips with your cash flow and reduce your worries about money, then email me at email@example.com and we can talk to see if I can help you.
Other Links That Will Help You
The links take you to a selection of articles on the Business Coaching Blog
Break Even Point Analysis Articles - Cash Flow Management Articles - Business Turnaround Articles - Trading In A Recession Articles - Finance Articles Volume 1 - Finance Articles Volume 2 - Paul Simister Coaching