Cashflow (or lack of it) is a constant challenge for all business owners. We refer to ‘cash’ as the oxygen a business needs to survive day to day. Cashflow is a critical factor which can lead to the success or demise of your business.

 

So … how do you avoid a cashflow crisis? Tanya Titman, mentor and business turnaround specialist believes a simple spreadsheet is the best tool to help manage your cashflow. If you’re struggling with cashflow, Tanya is happy to share her spreadsheet template to get you started.

 

The first step in managing cashflow is to predict when you might start struggling with cash. Then you can put strategies in place to manage the flow.

 

To forecast your cash position start by listing all the income you expect to receive and all your business’ expenses and when they fall due. Tanya suggests forecasting 12 weeks in advance to identify potential cash shortages. You can then put strategies in place to ensure your business has enough money to keep going.

 

Most entrepreneurs and business owners don’t have an accounting degree. What they do have is amazing ideas and passion for their business. However, without a full understanding of your financial position, it is easy to make bad financial decisions which lead to a cashflow crisis.

 

Tanya Titman, Managing Director of Consolid8 Accountant Firm, runs a 12 month business improvement course from her offices in Upper Mount Gravatt, Brisbane, specifically for women in business.

 

Tanya is an experienced business mentor who offers practical, real world advice. She empowers women by improving their financial literacy – when you understand your businesses financial information you can start making informed, strategic decisions.

 

For more information about the Acceler8 Business Improvement Program, run by business mentor Tanya Titman click the button below

 

Watch a video about this topic

 

Tanya Titman's free Acceler8 Business Improvement Video Series tackles common pain points that many business owners face. To learn more about the series, watch other episodes or sign up for upcoming videos click here

 

 

 

Request a copy of Tanya Titman's Cashflow Forecasting Tool

Complete the below form to request a free copy of Tanya's 12 week Cashflow Template.