SCORE Webinar - Cashflow 101: Cashflow Planning and Management
Video from SCORE. Watch on YouTube.
What you'll get
A SCORE mentor who spent his career in a corporate treasury office explains why a profitable business can still run out of cash, then builds a month-by-month cash forecast from starting cash, expected receipts, bills, loan payments and owner draws, and uses it to see how much financing is needed and when. It was recorded in 2020, so skip its pandemic loan programs, but keep its warning against holding back sales or payroll taxes to cover a gap.
Do this week
Build a six-month forecast with your starting bank balance, the client payments you expect and when, and every bill, loan payment and owner draw, and mark the first month the balance would fall below the cushion you want.