Measure Your Business Financial IQ

8 Responses | Created by platinumrainmakers |
  1. 1

    Does your business have the cash flow to meet payroll, cover other monthly overhead, and pay suppliers while you wait on your customers to pay you?

  2. 2

    Do you have the cash reserves to weather a long-term (6 months to 18 months) recession? Specifically, do you have the reserves to supplement reduced cash flow?

  3. 3

    Is your company averaging at least a 5% profitability annually?

  4. 4

    Are you seeing at least a 1% in growth of profits over the last 3 years?

  5. 5

    If your cash flow, cash reserves and profits (all three) are not meeting the minimums stated above have you worked with your accountant, CPA, senior officers and/or advisors to identify specific metho

  6. 6

    Are you held accountable to someone other than yourself to apply these methods?

  7. 7

    Do you set aside a time every month to review your P&L and measure the progression of the financial improvements you chose to apply?

  8. 8

    Have you been successful at accurately forecasting cash flow needs as well as profitability projections?

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