Happy New Year! The new year is a great time to resolve to become a healthier person and to run a healthier business. You can see your doctor for a physical examination and find out what areas you need to work on to become healthier. You can work with a nutritionist to you help you implement a healthy diet, and a good personal trainer will help you design and implement a workout regimen. Your CFO from Nperspective CFO and Strategic Services will help you assess the health of your business and put a plan in place for it to become healthy and grow.
In order to become and stay healthy you need to have a good foundation. A good foundation to your physical health is adequate shelter, diet, sleep and relationships with family, friends and co-workers. To be healthy, your business also needs a have a good foundation, which is your accounting and administration system. Your business needs to have a functioning accounting system, internal processes that work, timely closing and strong internal financial reports, appropriate insurance policies and good relationships with your bankers and auditors. We will help you determine the condition of your foundation and work alongside you to improve it.
To improve your physical health, you need to implement a healthy diet. We will help you improve the health of your business by focusing on cash flow, finance and operations. The diet of a healthy business includes ongoing forecasts and budgets, understanding operating costs and profit margins, meaningful periodic metrics and key performance indicators, strong banking relationships and forward-looking cash flow projections.
After you have implemented a healthy diet you can attain optimum fitness and strength through following a customized exercise plan. We will help you grow your business by focusing on revenue and strategy. This includes profitability by customer and product or service line, a healthy sales platform, sales growth strategy, pipeline forecasting, a well-documented mission, and longer-term cash flow based financial projections.
Once you have become healthy you can maintain your health through regular check-ups and developing long term maintenance programs for diet, exercise, sleep, and relationships. We will help you continue to run your healthy business and plan for succession or exit. This includes defining owner goals, options and the way forward, maintaining health and growth, developing a strong internal management team and great systems, and putting together a team of advisors to help with your goals and generate a higher business valuation.
