To help your business survive and thrive during these uncertain times, you need to be on the front foot.  It’s about not sitting back and waiting.

Just like the government is doing in Australia with its pre-cautions in respect of the coronavirus, you too as a business owner, need to take action now so you can minimise the impact on your business.  If you wait, it could be too late to do anything about it.

How do you get on the front foot?

Simple, cash is king.  With cash you can survive and be ready to thrive.  Without cash, you collapse and probably call in the administrator.

It is imperative that you know what your cash looks like.  And I don’t mean what is the balance of your bank account today.  I mean is what that balance will it look like in 2,3, 4 or even 6 months from now.  To do this, you need a cashflow forecast.

A cashflow forecast is simply an estimate of what cash is coming in and what cash is going out over a future period.

Now in these uncertain times, I recommend that you do three cash forecasts being best, bad and worst.

Now you have some possible scenarios about future events.  You now start to determine some milestones or key decision points.   For example, if revenue drops to X, we have to cut our expenses by Y.

By being on the front foot, you have started to take the emotion and fear out of decisions in these uncertain times.  You are effectively setting your game plan of how you are going to react today depending on what happened next.

Look out for more strategies from my Business Survival Guide to ensure your business can survive and thrive during these uncertain times.

Need help to understand your cashflow situation?  Use the below form to contact me or call me on 0412 227 052

Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.  And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au