An interesting way to think about treating small business financial ailments, is to associate the process with the process of thinking about when you are due for your regular doctor check-up.
Like a doctor, a CFO management consultant can look at specific symptoms to determine if a small business is overdue for a check-up. We have created another checklist for you, which identifies the most serious and persistent symptoms facing many small businesses. If your small business shows any of these symptoms, they can be looked at by a trustworthy and dependable CFO consultant.
By observing your day to day and week to week, see if you are fighting any of these conditions.
- You worry about meeting payroll.
- You are late paying vendors and suppliers.
- You are overly obsessed with monitoring your bank balance, clearing checks, and avoiding overdrafts.
- Your credit card is not being paid, or carries a large balance, or is on a minimum payment plan.
As an owner, see if you are having persistent issues with these business funding challenges:
- Spending more than 50% of your time thinking about how to get more funding.
- Getting successful and prompt approval for your requests for more credit or capital.
- Thinking more than you should about being boxed into having to start divesting.
Small businesses need to grow to survive. As you grow, see if you can identify with one of these growing pains.
- Having no clear, compelling, realistic financial plan or growth strategy (in writing), to have a solid strategic roadmap to guide your actions toward your business goals.
- Frequent rejection when applying for growth capital from your preferred sources.
- Uncertainty on whether your existing systems/infrastructure is strong enough to support the planned growth of your business.
To learn more about our affordable, flexible, part-time consulting services, or to get a free CFO review of your financials, call Arima Business Solutions today.