Sales growth at all costs? Most of the clients I work with have great sales, are growing revenue, or could grow revenue if they had additional cash to fund the growth. At the same time, every one of my clients is struggling to manage their cash.
After doing the basics of getting their cash management systems in place I almost always recommend that they fire some of their clients.
Yes, fire clients.
When you are looking to fix your cash management issues, don’t just look at the symptom. If you don’t dig past the symptoms you are seeing at the surface of a problem, you probably don’t know what your real problem is.
Most of the time when I am asked to come in and resolve issues, I am asked to fix the symptoms of a business’s troubles.
Getting good advice on how to implement cash flow management practices can be complicated. Improvements to cash flow management are available for all aspects of your business. The tricky part is figuring out what to start with and what practices aren’t worth the time and effort for your business.
If you ask finance professionals about strategic management tools, they will eagerly name SWOT, PESTL, “what if” analysis, vision and mission statements, Porter’s five forces… but hardly ever you would find a dashboard, or dashboard design on the list.
This short article explains the strategic role of dashboard design and helps you set the right KPIs and benchmarks for your business.
“If you want to go fast, go alone. If you want to go far, go together.” - African Proverb
If you are about to embark on a digitalization journey, do not forget to take your employees with you. This short article explains how FP&A can help organizations avoid the three-to-five-year gap between the technology adoption level and the mindset of employees.
