Business, Finance, Self-Management, Start-up

How to manage cash flow and forecast sales (incl. free Financial Management Template)

Financial Management

Financial Management for SMBs Made Easy with our Ready-Made Template

You’ve had your ‘Eureka’ moment. You’ve worked hard and long on the concept, design, and marketing of your product or service. You have got the show on the road. Well done!

If you are an SMB or a start-up, the process of launching your business can be exhausting. However, it is also exhilarating. And sometimes in all the excitement, it is easy to forget one of the fundamental aspects of running a business – Financial Management.

In one of my previous posts, I had outlined how poor cash-flow management is a recipe for imminent failure of SMBs’. But it is apparent that start-ups and small businesses may not have the financial resources right off the bat to hire a full-time financial expert or to invest in a company that would offer support with financial forecasting.

The good news is, with just a little help from us, you can manage the cash-flow of your company yourself and forecast sales.

How?

 

Migration – Cover your bases!

During my talk at #OXS14 (here is the video) I spoke about how user migration presents an opportunity to engage with your user base. I talked a lot about the psychology and the emotional aspects that we need to focus on while preparing a migration for a large amount of users. In this blog, I…...
Communication need not be so hard

How to fix the communication problem between your business & customer

Communication need not be so hard I recently moved across continents and found myself in a new place, in need of new sources for services.  As exciting as brand new beginnings can be, finding a new gardener seemed to dull the prospect a bit. You see, my move coincided with the time of year that…...
Your Business Success hinges on your Customers’ Success

Your Business Success hinges on your Customers’ Success

How to Start with Market Research to identify what your customers’ Desired Outcomes are One of the core reasons your business has been successful is because you have done your research and identified a market gap; a space in which you could set up shop to cater to a particular need of your customers that…...

The NYC Marketing Academy Cash-flow Template.

But before we tell you more about the template, let’s cover the basics.

Financial planning hinges upon understanding the probability of upcoming sales numbers in relation to the costs involved in running your business and your cash flow situation.

Succinctly put, to successfully run an SMB or startup you need to have knowledge of the 3 KPIs:

  • Your revenue
  • The costs incurred while making said revenue
  • Your cash flow

Here’s how you can forecast your cash-flow with our user-friendly template after login into the website.

Just remember that it is important to be realistic about the data you enter. Entering inaccurate data will only make the forecast inaccurate and an inflated prediction is going to hurt your business. Our template features multiple tabs that must be completed with the data you have in hand. We have designed functions in here that would help you enter the required numbers, accurately. Follow the instructions right on to the revenue side of matters by correctly assessing the level you are in when it comes to ongoing negotiations with suppliers. Enter a reasonable profitability percentage based on the cost and expected sales revenue.

We promise, the more you work with our template, the easier it is going to get. Soon you’ll be forecasting your cash-flow and sales, effortlessly.

Our template also includes provisions to insert all recurring monthly costs involved in operating your business. You can easily feed in costs of salaries, rent, communication, taxes, and other expenses. This will help you to arrive at a final realistic value.

What you get out of the NYMA Cash-flow and Forecasting Template: Financial Management!

When all is said, done, and entered, your final numbers will be presented on the dashboard. These numbers will, at a glance, forecast revenues, profit or loss, and your cash-flow situation which will help you effect required alterations to make your business operation increasingly profitable. Now you are in a position where you can achieve sustainable financial management.

After all, without these crucial numbers, you wouldn’t even begin to understand how or where to make changes that would generate positive results for your business.

I am always here to help.

If you have further questions, click here for a free session of consultation during which I would be able to offer additional tips and tricks on how to use the NYMA template.

 

Good luck with your forecasting!

author-avatar

About Maurice

Maurice Hofmann is a serial entrepreneur, marketing and digital marketing specialist, who is known for his innovative drive as well as his ability to lead cross functional teams to achieve the highest level of success. In his 20 year spanning career, he has experienced all aspects of marketing, working in various global roles spreading across TV production, Army ‘Psychological Operations, as an owner of a Brand Experience agency or as a leader of marketing departments for several software companies, start-ups and as a M

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.