How a cashflow forecast gave this board peace of mind

In today’s demonstration of why doing a cashflow forecast can change your business or your life, I want to use a real life example of how a cashflow forecast gave this board peace of mind about how the executive team were spending the cash they had raised via capital raisings.

Transcript

When I first spoke the Chairperson of this company, they were concerned that the management team was not managing the cash they had obtained through various capital raisings in an appropriate manner. They were concerned about the cash runway of the business.

To help that board, I put together 2 things for them. First of all was a weekly cashflow forecast. And then I put together a weekly “Flash Report” for the board. The board got the weekly flash report which which summarised where the cash was that week and projected over the near term future.

Now the board started to get peace of mind, overseeing what was happening with cash, and what was projected to come.

Now in terms of the CEO, you can imagine the CEO was a bit unimpressed being forced b y the board to employ me to actually develop the cashflow forecast. But after a while, the CEO changed their mind.

The CEO started using the weekly cashflow forecast as a significant management tool for him. He was able to schedule when he was going to pay things. He could see where there were various pinch points in his cashflow forecast. And he could take action today, rather than being reactive in a months time when there is a problem paying the ATO and they were struggling and trying to sort out what they were going to do.

So the CEO changed their tune and they came to rely on the cashflow forecast as a significant business tool to help them manage their business

That is just one other example of a cashflow forecast can change your business or your life.

Now if you want some implement a cashflow forecast that may potentially change your business or your life, contact me below.

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