YOU NEED BETTER CASH MANAGEMENT, and YOU KNOW IT!
Tracking income and expenses seems relatively straightforward. It’s not. Format is important, HOW you’re tracking information is critical! Speed and anticipation is even MORE important!
Why hinder your performance or growth?
No matter the size of your business, having us on your team guides and builds both cash flow AND profit. We work at speed, with you, to achieve and maintain long term profitability!
WHY HIRE A CASH FLOW CONSULTANT?
Whether you own a small or medium-sized business, having a cash flow consultant on your team is key to overcoming the challenge of achieving, maintaining, and increasing long-term profitability.
Cash management consultants monitor your company’s gains and losses. They give you a detailed overview of your financial status and guide you in making informed business decisions.
Additionally, they help track your cash outflows, ensuring that financial obligations like paying suppliers and employees are met in a timely manner.
Other ways a cash management consultant can help you include:
Liquidity Management
Many businesses purchase inventory and invest in new equipment even before they have the funds to pay for them. Spending too much without having enough demand, however, can result in an unmanageable increase in financial obligations.
Our consultants will help you formulate a sound liquidity management strategy that enables you to meet short-term cash obligations without incurring losses.
Cash Operations Management
Our consultants will help administer to your company’s daily, weekly, quarterly, and annual inflows and outflows. You will receive a detailed summary of upcoming deadlines and assistance in executing payments and other financial obligations.
Treasury Management
Our cash management experts will oversee and manage your company’s overall finances. They’ll provide helpful insights on how to manage liquidity and avoid excessive risks. Through cash management coaching, they teach managers in maintaining bank relationships as well as making sound investment and financing decisions.
WANT MORE PROFIT? LET’S START A CONVERSATION.
Take your business to new heights. Send us a message.
Let’s Start A Conversation
Take your business to new heights. Send us a message to schedule a complementary consultation with our culture and growth experts.You Can Improve Your Business Profitability Today
Miick provides transformational business consulting services to help improve business cash flow and integrate fiscal health, meaning fiscal acuity into daily management systems that anticipate performance rather manage by autopsy, waiting for the month end financial statement to arrive. In all fiscal approach we work with our client community to look at sales and production in counter intuitive ways with definitive budgets and targets in dollars and percentages. This happens by the shift, by the day, by the week, by the period, then by the year… each day, every day. Outcome? Managers, owners and C-suite alike have quantifiable data at their fingertips by 10am each. Based on up to the minute data accrued daily, leaders and teams make clear, nimble decisions that anticipate what’s coming next and with a calculating eye on what’s just over the horizon.
Your Fiscal Health Ties To Your Business Culture
Want more? Imagine having your team as a whole work with “ownership” eyes and attitude! This is a Miick norm. In all our work, Fiscal acuity is integrated with Culture, with communication, as a part of an inspired work environment! Imagine teaching the staff to read and understand a financial statement. Even more, imagine them able to build their own profit and loss statement as a family, by learning the application of fiscal acuity at work! Suddenly and in ongoing ways, fiscal acumen is a part of all staff performance. Ironic as it may seem, an engaged culture engages around fiscal results actively when we open that door. Our small business development consultant will walk at your side in the development of fiscal acuity, training and engagement! Watch sales and profit soar. Literally.
An effective cash flow strategy to solve all your problems
Cash flow problems are some of the main reasons why small businesses fail. Fortunately, most of them can be prevented with proper recordkeeping and forecasting. The challenge, however, lies is implementing an effective cash management strategy that can help businesses navigate this problem.
Let’s look at some of these issues and how our cash management strategies for businesses can help solve them.
Cash flow is king, we know this. That said, when an economic downturn occurs, cash flow is simply not good enough. Profit and a war chest of some size is critical to have. By hiring our cash flow management consultancy firm, you’ll get the support and knowledge needed to create a system that anticipates fiscal performance and cash flow in ways that support fluid and effective cash flow management, as well as up-to-the-minute profit tracking.
Issue: repair & Maintenance
It’s oxymoronic to think of repair and maintenance in the same sentence. As equipment is acquired and put into service, ensuring that a proactive and comprehensive maintenance schedule is followed is critical in maintaining efficient production processes. Because if one machine or piece of equipment is down, it can affect the entire line. Our consultant for effective cash management will ensure that you have the funds to stay on top of emergency repairs and maintenance.
ISSUE: FISCAL REPORTING
Are you managing by autopsy, waiting for your financial statement? Anticipatory decision-making is driven by up-to-the-minute cash and fiscal reporting. There’s no reason that 2021 needs to wait for financial statements or week “ending” reports. There are alternatives, and Miick can provide them to you.
Issue: PRO Forma Development
Have a new idea ready to charge forward, and winging the financials? This is a deadly choice, all the more in the midst of a recession or pandemic. As part of our cash management consulting services, we’ll help determine the right numbers and simple format that will exponentially mitigate the risk of any new venture.
ISSUE: Budgets
Budgets off? No budgets? How does one build an effective budget? Even more, how do you use a budget to its best application?
Miick knows and acts as a positive guide with budgeting. Cash management AND fiscal performance hinges on great budgeting to act as a guide in decision making. We bank dollars, we manage by percentages. Effective budgeting is a terrific tool to have; all the more when aligned with DAILY fiscal tracking systems that anticipate performance! Imagine knowing where you are with purchasing, production, inventory management.
Issue: Fiscal Year
What’s the right fiscal year? Do we run January to December; July to June; 12 calendar months? 13 periods? How do I know? What’s the impact to my company with any one of these questions? Your choice does make a difference, and Miick will help you find the timing that’s best for your company.
Issue: Reporting Cycle
Think you’re in a monthly business cycle? What if shifting focus to daily and accrued tracking could improve cash flow AND profit? If deep recession and pandemic have taught us anything, it’s this, “I need information today!”, and Miick can help you in this aspect. We’ll assist you in analyzing financial trends and provide you with detailed summary reports of your cash flow.
Issue: operations accounting
Most accountants don’t even know what operations accounting is. Most controllers can’t manage current systems on daily or accrued to date basis. Miick can show you how! Improve cash position exponentially, ramp profit by 1/3 to 3x to 5x times.
Issue: Decision Making
Are you managing by autopsy, waiting for your financial statement? Is turnaround too slow? Too much opinion and not enough data? Too many loud voices? Power vs insight? Are you holding onto habits instead of moving into innovation? Fear vs vision? There’s a better way. Let us show you.
Issue: inventory/purchasing
Are you thinking inventory is a management control instead of the asset count it is actually? Have more money on the shelves than in the bank? Think you “know” your inventory total, so no reason to count it? Are you counting on “control” when you’re actually running a 7% or higher POS variance thanks to some depletion count? You’re not alone. And, know, there’s no reason to have to live with cash flow shortage due to inventory or variance as a system. You have an alternative with Miick.
Issue: NO WAR CHEST, WORKING CAPITAL, OR CASH
There’s no reason to trade cost of goods for cash flow. Frankly, there’s no reason to not have all three: cash flow, profit and a war chest. Your company can achieve this with sound advice from our consultants.
ISSUE: Replacement/R&M
What’s the right fiscal year? Do we run January to December; July to June; 12 calendar month? How do I find the cash to replace the equipment or upgrades I need? Is there a way to budget for replacement or repair and maintenance? How does budgeting assist decision making for replacement or R&M? As your mentor, we’ll provide you with useful insights to better address these challenges.
Issue: Open Books or Not
My three big fears with open books:
- Anger or Fear of my team.
- Jealousy
- It’s nobody’s business but mine
Time and again, we’ve found the opposite to be true:
- Open books builds staff engagement!
- The trust to share information builds inspired performance
- Then, a co-created, shared, play book drives performance that hits 3x to 5x times norm
Issue: profit vs cash flow
- You can feel missing performance.
- You’re not hitting the profit margins you hear or read about.
- You’re surviving on cash flow, not profit, and there’s not much “war chest” left.
- You’re not alone and that reality is no comfort!
You and the investors need both cash flow and profit! Pandemic, recession, inflation, and the bank have harsh lessons to teach about this issue. Let’s get you both!
Miick knows how to turn this situation around and how to do it fast.
Issue: communication
I don’t talk to my team about our fiscal situation. We tell our managers the numbers to hit and they still miss. There’s so much drama and guilt or just ignorance about our numbers, how do I even start a discussion with my managers or team? Communication is the primary how to get all things done, and to get radically clear on all things why, how and what. Develops skills for effective communication with Miick’s guidance.
Issue: PROFIT SHARING
My team is asking me about profit sharing. Do I just give my money away? Simple answer here, no. However, what if you have definitive data points on top and bottom line performance. When hit, profit sharing goes into place. What if instead of fighting wages a higher salary, profit sharing was paid out based on performance and even more, on certification/training and performance to actually earn profit share. We’ve been working with profit sharing models for over 35 years. It works when done right. Find out how.
Issue: sales
How do I drive sales? What the heck are we missing to not hit our numbers? As your mentor, we’ll find ways to get your crew to be more engaged and proactive to be able to drive more sales.
REACH YOUR REVENUE GOALS IN NO TIME
Yes, hiring a certified cash flow management consultant will take up some of your time and resources, but you’ll thank yourself later. Through our cash flow coaching solutions, you’ll get a fresh new perspective on how to spend your money. You’ll be able to rethink you spending patterns and identify potential obstacles that prevent your business from achieving financial growth and stability.
Miick’s reliable team of consultants will work closely with you to create a results-driven management strategy that you can sustain. We’ll help you track daily cash operations, meet financial obligations, plan for short and long-term cash requirements, as well as navigate potential risks. We’ll be there every step of the way, from the initial assessment down to the implementation. Expect to receive regular feedback on how you can fine-tune your processes.
Work With Us Today
At Miick, we believe in business beyond profit. We believe that your personal values and outlook in life affects how you value and manage your resources. If you want to grow your sales and secure your company’s long-term profitability, turn to our consultants today. Together, we’ll determine an effective cash management plan that works well with your personal and business goals. Schedule a consultation today to learn more about our cash flow consulting services.
