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.
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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!