Navigate through 2020 to achieve stability in 2021.

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BACK TO BUSINESS FINANCIAL TOOKIT

Profitable Insights has developed a tried and tested method for financial management under a Back to Business Financial Toolkit.

Our clients have been able to consolidate their business and successfully navigate the uncertainty of these times using this method.

The toolkit offers a practical sequence driven by priorities in the current economic climate and context, starting with cashflow forecast, re-budgeting for sales targets, planning profit and market and product/service changes to anticipate a safe end of this year and build stability in your 2021 business.

As businesses may be at different stages of restarting their economic activity, each of the steps below can be booked separately or as a package.

Pricing starts at £600 for a 2020 cashflow forecast. Please feel free to contact us for more details.


3 step action plan for SME owners to ensure a successful restart of their business

Here is the 3 point business restart plan to help you prioritise the areas that need your attention right here right now.

Step 1: Get accurate cashflow forecast 2020 and beyond

Having control and monitoring cash accurately is a paramount– not for just 90 days, but for at least end of 2020. We will work together to extend the forecast through 2021.

In a typical environment, when the business is profitable enough, and sales are taken for granted, cashflow monitoring is secondary. Some of our clients do not do it at all, and we rely only on P&L quarterly profit monitoring.

Your business will go bankrupt if you run out of money. Hence, you need to know how to control the floor to survive. It will also indicate how quickly the sales effort needs to be started/restarted to minimise the cash gap. 

Step 2: Set sensible sales targets for 2020 using breakeven points

The premise is that ideally, 2020 should end up with a minimum loss. A very ambitious target for 2021 is to breakeven.

We’ll help with setting two sales targets after a pipeline analysis:

  • minimum target: sales needed to break even in the second part of the year and incur only a total annual loss of the first part of the year, in any
  • sensible target (and stretchy for a lot of businesses): to aim to break even for the entire year, i.e. no loss.

In this environment, people naturally hesitate to buy – the sale cycle is much longer and pushing the boat out on prospects may alienate them forever. So let’s take it easy.

Step 3: Decide how and what to sell in the new circumstances

The last step is to review your longer-term plans. Here we will help tailor your sales effort to the new environment by answering the most frequently asked questions right now:

  • market segment
  • pricing
  • cost
  • product

Answering these questions will get you ready to start forecasting the year 2021 with a new revenue structure to see the impact on your profitability longer term.

Adina untangled my numbers. She was able to break down and interrogate all my costs and income. This resulted in an accurate cash forecast and pipeline and meant we could find efficiencies which have saved me money. Her input has been invaluable. I have transparency and financial control now.

Louise Turley, FT Architects

Need help with restarting your business?

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