7900 International Drive Suite 300 Minneapolis, MN 55425

Will I have enough cash to stay afloat?

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Part 1: Cash flow budgets to strengthen your business

Do you have enough cash flow? Find out in your cash flow budget

A company’s cash flow budget is a mainstay of their financial reporting and can be used to predict and forecast cash flow requirements. If you’re not currently looking at this type of report, here’s why you need to prepare one and what it can tell you about the business.

Why prepare a cash flow budget

The cash flow budget is quite simply a report showing how much money is entering and exiting the business. It shows how much cash you’ll have on hand at any given period of time.

First and foremost, a cash flow budget is a plan for business owners and management to help understand their cash position and achieve their business goals.

Secondly, and just as importantly, a cash flow budget is usually required by anyone considering lending your business money. This plan helps demonstrate how your suppliers will be paid, how quickly your company can grow, and the financial viability of the business. It also shows the potential to declare dividends and increase owner equity, which may be an important aspect for business owners and shareholders.

The ultimate goal is to be cash flow positive: bringing in more cash than is going out.

 

What does a cash flow budget tell me?

A cash flow budget will estimate your future business income and expenditures, and will help you predict if and when you’ll fall short so you can take proactive measures to avoid those situations.

Once complete, the forecast will give you information on at least seven important points:

  1. What months you might run short on cash
  2. If you have enough cash flow to pay your bills at the end of every month
  3. If longer payment terms are potentially putting you in a cash flow crunch
  4. Whether or not you have the right minimum beginning balance for each month
  5. If there are seasonal fluctuations in cash flow
  6. If you can take advantage of unexpected supplier discounts
  7. If you need to raise capital

So how do you complete the ever-important cash flow budget? Read part two and learn the 7 steps to budget your cash flow.

 

Brand Bootcamp Big Give – Benefiting Toys for Tots (and You!)

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Most businesses know their products and services inside-and-out. But, they don’t know how to clearly communicate that to their customers. Sound familiar?

Do you struggle with:

  • Simplifying your message so you can explain to your audience what you do and why they should care?
  • Differentiating yourself from the competition and standing out in a crowded marketplace?
  • Understanding how your audience thinks, their driving forces, and how to talk to them?

BRAND BOOTCAMP WILL CHANGE THE CONVERSATION AND TRANSFORM YOUR BUSINESS… FOR JUST $25 (Regular Price $495)

December 6, 9AM-4PM. Includes lunch.

When was the last time you worked ON your business, rather than IN it? Dedicate one day to making your brand stronger than ever and crafting marketing messages that truly connect.

Keep Reading to: Watch a 2-min video that sums-up the event, learn more about Brand Bootcamp, and find out how we’re helping Toys for Tots.

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WHY PEOPLE MATTER IN YOUR BUSINESS

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In business, people are your most valuable assets. Finding the right people with the right skills that are engaged and productive is key to growing a successful business.

The most recent statistics about the US workforce are telling…

  • Increasing employee engagement investments by 10% can increase profits by $2,400 per employee per year. (Source: Workplace Research Foundation)
  • Companies with engaged employees outperform those without by 202% (Source: Business 2 Community)
  • Companies that increase their number of talented managers and double the rate of engaged employees achieve, on average, 147% higher earnings per share than their competition (Source: Gallup)
  • Disengaged workers have 37% higher absenteeism, 49% more accidents, and 60% more errors and defects (Source: Queens School of Business and by Gallup)

Poor management and disengaged employees in the workplace are creating a $450 billion to $550 billion annual deficit for U.S. companies.  The cost of disengagement has been estimated to be so pervasive that it costs an organization, on the average $5,000 per employee, conservatively.

What does disengagement look like?

Disengaged People:

  • Are “Checked out” – thinking about their next break or lunch
  • Show up to kill time until the next pay check
  • Have little concern for other people’s needs including customers
  • Return less than 60% of their pay in value

What does being engaged at work look like?

Engaged People:

  • Are fully involved in, and enthusiastic about their work
  • Committed to their organization’s goals and values
  • Motivated to contribute to the success of the organization
  • Dedicated to their own personal development
  • Return 100% – 120% in their pay in value

What can be done?

Gallup suggest THREE WAYS TO ACCELERATE EMPLOYEE ENGAGEMENT

  1. Select the Right People
  2. Develop Employees’ Strengths
  3. Enhance Employees’ Wellbeing

 What one step can you or your company do to accelerate engagement in the workplace?

Invest in the development of your team members.

“Knowing how you matter on the job, in your business, or as an organization is key to being able to take purposeful action. Having the tools needed to effectively interact in various situations impacts the people you work with and the people you serve. Invest in your most valuable resource – people.”  Deb Sauder, CEO of InterACT4Impact, Inc. – www.interact4impact.com

Learn about creating Healthy Workplaces with Dynamic Teams  from workforce experts:

The Small Business Advisory Board is excited to offer an interactive workshop to provide owners, managers, and executive directors of small/midsize businesses and organizations, simple strategies to create a workplace everyone wants to show up for.

Presented By Our SBAB Business Experts:

Jessica Hamilton, HR Consultant, Jodi Milbradt, Employer Solutions, Deb Sauder, Workplace Strategist and Zaylore Stout, Employment Attorney

Wednesday, April 11, 2018, 9:00 am to 11:00 am

 

Seating is Limited!  Register Today!  

 

 

Please Join Us!

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You wont want to miss this! Coming in February, The Healthy Workplace: 10 Ways to Build a Great Work Environment That Produces Meaningful Results

Meet with our experts Jessica Hamilton (HR Consultant), Deb Sauder (Leadership Strategist), and Zaylore Stout (Employment Attorney) while they dive into the topic of corporate culture. This will be an interactive workshop!

Wednesday, February 7th, 9:30-11:30 am

Officenters-International Plaza

7900 International Drive, Suite 300

Bloomington, MN 55425

Questions? Send us an email at info@smallbizab.com ! Register at: https://smallbizab.com/events/the-healthy-workplace-workshop/

Find the Money: 5 Financial Blind Spots for Business Owners with Employees

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Investigate, illuminate, and eliminate 5 Financial Blind Spots that often derail businesses with employees!

Our team of experts will share little-known methods to help you reveal and replace those blind spots for better cash flow today and better income & profit margin tomorrow. Join us Wednesday, April  26 from 11am-1:30pm at Centennial Lakes Office Park, 7650 Edinborough Way, Suite 275 (Second Floor Conference Room), Edina, MN 55435.

Featuring:

  • Jeff Johnston, Sandler Sales Training
  • Jodi Milbradt, Employer Solutions Group
  • Barney Coelho, iluma Financial Partners
  • Brad Dale, Cherry Creek Mortgage Co.
  • The Small Business Advisory Board

Special pricing $95 in made possible by our partnership with the Small Business Advisory Board

Hosted by www.ilumafinancial.com

lunch provided

New February Workshop

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In February, the Small Business Advisory Board will be presenting a new, exciting workshop for those entrepreneurs looking for business advice. Our Advisory Board for Hire workshop will be an open Q and A format, similar to our monthly luncheons, where you can get more specific advice on your unique business from our board members. Our business consultant Vernon Stading and HR expert Becky Judd will host, along with 1-2 other board members. Register NOW, as space is limited to ensure all attendees have adequate time to share about their business frustrations and ask questions.

The workshop will be held on Feburary 9th 2017 from 12-4 pm. Cost is only $349! Please email info@smallbizab.com to register or ask questions.