We’ve all been there – we certainly have.
Everything is going swimmingly and then out of nowhere it happens, and you are struggling to keep things afloat, let alone on track.
In so many instances, this situation can spell the end of the small company and the ruin of the owners’ lives.
So how can you cope with these crises and still stay in business?
When we started out in business, we made all the mistakes you could.
We began by only checking the bank statements until we discovered that this didn’t forecast what was to come and we ran in financial difficulties as a result.
The second mistake was running the business on cash control alone and staying just within our means. The net result was a crisis came along and there wasn’t enough money, so we had to ask for a larger overdraft.
At the end of the year we discovered that staying within your cash means resulted in making a Loss on the P&L and so ending up with a negative on the Balance Sheet.
It felt as if we were constantly running into walls. However, we did learn from it and developed our own method of forecasting the future finances of the company, both cash and P&L.
This hasn’t stopped the crisis from coming out of the blue, but it has ensured that we are running our business with financial “headroom” so that we have time to weather the storm. It isn’t any easier but at least you know you can get through it and come out the other side still in business.
The current Covid-19 crisis has made us realize that there may be other micro to small companies, like us, who could benefit from our systems and experience and ensure that their futures are more secure.
So we are offering to develop and manage the systems for 3 companies at the Covid-19 discounted rate of £40/month with no set-up costs. NB this fee rate covers the basic monthly cash-flow forecast and bank reconciliation.
There is a whole suite of supporting services that we can provide to ensure your business stays financially on track and gives you the time to get on growing it back to what it was.
Once we’ve got those companies systems up and running we will offer the same service to others at the normal rate of £60/month with £60 set-up.
If you are worried about your businesses financial future and would like to take control just give us a ring on 0808-172-1900 for an informal chat.