Cash is King

I am not an accountant but I do my own accounts. I also work with clients on financial projections for their business plans. Finance is at the core of business and marketing. Cashflow is the core of finances. I have published an online course ‘Creating Financial Projections for a Local Business‘. A bonus module was recently added to the programme to discuss VAT & Cash flow. The 15 minute video is embedded at the bottom of this post as a free preview of the style 0f the overall programme.

The ONE HOUR online programme is for you if:

You a startup promoter or small business owner who needs to create financial projections for your business to apply for a loan to a bank? Or you need projections to apply for financial support from the Local Enterprise Office or Leader.

Creating Financial Projections for your local Business

Cashflow Scenario discussed in the Video

The following details are entirely fictitious and any resemblance to any trading business is entirely unintended:

1. Jelly Jumble Ltd owned by Myles Calisto is a pop up sweet shop.

2. Stock is €1 per unit if 1000 units are purchased in a transaction.

3. Myles knows that he will generally sell 250 units per month.

4. He receives a very attractive offer from his supplier:
If he buys 5000 units in the next order, the business can avail of a reduced price of €0.8 per unit. This is a 20% discount.

5. Each unit sells for €2.

6. The other piece of information is that customers either pay Cash (50% of revenue) or pay on invoice within a month (remaining 50% of turnover).

The question is whether Myles should take up this offer? In the video below, I present some introductory financial analysis to assist with making this decision.

While this scenario may seem simplistic, I hope you find this video of use. When creating financial projections for client businesses experiencing Growth, I use a sophisticated but manageable Excel-based template (like the one you can download here). However, the concepts presented in the video and the approach remain relevant. I look forward to your comments!


donncha (@donnchadhh)

p.s the video towards the end references the issue of getting paid on time as a challenge for small business. For further reading on ‘good cash flow management’, I recommend SAGE’s free 9 page pdf ‘Advice to manage your finances and cash flow‘ which can be downloaded from their site. Please note that I have no business relationship with SAGE and this is not an endorsement of their service!

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