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Welcome back everyone. In the sixth and final part of my blog series, I want to discuss something that affects all of our financial journeys: Superannuation. Perhaps you’re concerned about your retirement savings? Or maybe uncertain about how to make the most .....
What happens when you don’t feed your body? You slow down, have trouble concentrating and can’t function normally. What happens when you don’t have the cash to feed your business?
When you stop and think about it, cash is the food that nourishes your business. It can’t survive long without it, and if you don’t have enough of it, you may struggle to operate efficiently and smoothly.
In this blog, we’ll look at the reasons cash flow management is critical to the health of a business, and then we’ll look at some of the best practices in use by today’s most successful Australian companies.
As mentioned, cash is the fuel that keeps a business humming along and operating optimally. Here are a few of the ways your business depends on healthy cash flow:
Cash flow can affect virtually every aspect of your business, from your choice of suppliers to pricing and margins. When it comes to something so integral to your success, best practices are essential.
Looking ahead is one of the best things you can do as a business owner, and many of today’s cash flow best practices stem from a forward-thinking, planning-focused mindset.
Without a firm grip on where your money is coming from and where it’s going, your cash flow can be unpredictable. With comprehensive budgeting, however, you can take control of your cash flow and have access to the financial information necessary to make informed decisions.
Another important best practice is to create cash flow plans that will help you to predict exactly how you’ll keep your business running smoothly. Cash flow forecasting and modelling are used by businesses in many different industries to regulate and control income and outflows.
Most business owners find that their day-to-day work consumes a large portion of their time. Between managing employees, handling marketing, preparing payroll and filling orders, there’s not much time left over for bigger-picture financial duties.
Outsourced CFO services can significantly lighten your load and aim your business in the direction you want it to go. Hiring a full-time, in-house CFO may be more than you need at this point in your company’s development, but you may still need the expertise and experience that a CFO brings to the table.
With outsourced CFO services, you can scale up or down as needed and gain real-time access to the data you need for making forward-thinking, confident decisions. With our CFO services, you can have the following:
As you can see, our outsourced CFO services can do even more than help you to get your cash flow under control. Contact us today to learn more about how we can help your business to run the way you’ve always envisioned.
Set your business on the right path with this simple guide.
Make sure you’re on the right track with this online checklist.
© 2022 Altus Financial, All rights reserved.
Altus Wealth Pty Limited ABN 55 649 956 212 is an Authorised Representative of Altus Financial Services Pty Ltd ABN 24 637 026 825 an Australian Financial Services Licensee (AFSL no. 520266). Altus Financial Services Pty Ltd is not responsible for the advice, products and services provided by Altus Accounting. Julie Azzi is a credit representative (CR No. 366834) of BLSSA Pty Ltd ABN 69 117 651 760 (Australian Credit Licence 391237).
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