What is cash flow forecasting and why it is relevant? Cashflow forecasting is a process of obtaining an estimated company's future financial position. It involves the core planning component of financial management within the organization. The main goal of cash flow forecasting is to ensure that the business has a sustainable cash flow to meet its obligations and avoid financial issues in the long run. Interest and debt reduction, short term liquidity planning and long term planning are some of the reasons why companies should set up a cash flow forecasting process. In this episode, we have Louise Delaney, the founder of Cash Flows For you to share some tips about cash flow forecasting and effective financial management.
Business Tips to Help You Get Ahead of the Competition
It’s important for business owners to understand the ins and outs of operating a business. Read on for some business tips and best practices that you can take advantage of.
Toronto is one of the most multicultural cities in the world. English is the main language, but there are over 160 other languages that are spoken by various communities. There are also 200 different ethnic origins among many inhabitants. For me, there's something really special about that kind of diversity because people from different backgrounds bring different ideas. It's no coincidence that there was a huge boom in technology in the 20th century. Ultimately, the spread of the telephone and then the Internet allowed us to share the information instantaneously across the globe.
Are you having trouble marketing your products? The biggest challenge to face when you are a marketer is how to reach your target audience effectively. The main goal of marketing is to deliver the right message to the right people. Otherwise, you will end up wasting your time and money. Remember that it is when you reach your target audience effectively that you can drive more product sales conversions. There are many ways to do this, such as creating useful and relevant content, leveraging influencers through social media, and using targeted advertising. In this episode, our special guest, Cliff Coelho, a video marketing wizard from StoryDriven Video, shares tips on how to engage with your targeted audience effectively.
One of the challenging parts of being a business owner is taking a substantial amount of time to make the best decisions for your company. It doesn't always mean that you just flip a coin whenever you need to choose. Weighing the pros and cons is the most effective way to move forward. Being patient while using the right tools and implementing a systematic process are some of the contributors to sustaining a start-up business. Many of us make the mistake of thinking that it has to be perfect by the launch date not knowing that constant running of tests, trial and error, and failures are included in the package. So preparation and consistency will help you armour your business on its way to success. In this episode, Crista Grasso, the creator of both the Lean Out Method and the 90-Day Lean Out Planner, shares tips for leaning out to level up.
Every business must have a strong foundation—from the people you can trust to the website you are planning to build and the marketing efforts you need to keep the business going. And whether you've been running a business for quite some time or you jumped into the world of entrepreneurship just recently, you must learn how to put these elements in place early on. Many questions remain unanswered especially when people and money management are involved. The key to an organisation's success is the relationship among team members and the cash flow management, which could be a challenge for some. In this episode, Jeff Chastain shares how we can make a foundation for the growth of your business.
Turning a small business into something bigger is never easy. Business growth will have a lot to do with budgeting and making sure you understand the cash that's flowing in and flowing out. It sets the path for where you want to go. I think between learning to work on the business to grow your business and working in the business is the differentiator between the business owners that own a job and the people that own an investment. How would you manage the cash flow of your business and what would help it? In this episode, Blair Ann Verrier, a Certified Practising Accountant with over 10 years of experience in the accounting industry, shares valuable tips on planning for growth and how to become a business warrior.