As experts in business bookkeeping and accounting, Growth Force helps its clients improve their cash flow management by implementing smart bookkeeping and management accounting systems optimized to help business owners and CEOs make strategic – rather reflexive – business decisions.
With a smarter back office, you can fine-tune your business model, increase cash flow and improve profitability to get your business out of the financial weeds and elevate it to the next level.
You will also likely be able to get some leeway or perhaps even a reduced obligation from your utility providers.
Cash flow shortages occur when more money flows out of your company than into your company.
Eliminate all unnecessary expenses and only spend on the costs that keep you operational and generate revenue.
In addition to cutting non-essential expenses, in a cash flow crisis you can also off-load non-essential business assets.
Before you take on business debt, however, be sure you understand the interest rates and have considered all other options and are not making a decision that will simply kick the problem down the road to be addressed at a later date.
If your business has an intrinsic problem causing your cash flow crisis, then taking on debt will only put a band-aid on the problem and make the problem worse in the future.
to look at your business's profit and loss statements and profit margins based on individual categories within your company (jobs, clients, employees, events, marketing strategies, products and services) to determine which areas of your business are the most and least profitable.
This will help you adjust your business plan to focus on services that generate the most profit , let go of clients who might be costing you more money than you realize, optimize your pricing structure and also identify areas of waste or unnecessary expense to remove from your operations.