Get Financially Fit for 2014 with our daily cash flow management workshop.
By running a daily cash flow, you'll be able to plan ahead, prioritize your expenses, and make sure you don't overextend yourself financially.
Brought to you by Lunchbox Learning & DMG.
7. Financial Fitness for EVER
“Balance sheets and income
statements are fiction, cash flow is
reality.”
Chris Chocola
“A big part of financial freedom is
having your heart and mind free
from the what-ifs…”
Suze Orman
8. Key Elements of a Financially Fit
Business
TE
LA TS
H
Business Planning
NIG
LIQUIDATION
Personal & Team Development
&
D
BANKRUPTCY
COL EBT
LE C
TION
Cash Flow
Monthly Reporting
Management Systems
s…
i on
cis ts
De ofi
Budget Systems
tive e Pr
oac reas
Pr
Inc
Debtor Management Systems
Creditor Management Systems
9. How to set up a Daily Cash Flow
Today’s Workshop
1. Complete an exercise
2. Analyse the Cashflow Report
3. Identify Crunch Points and Solutions
10. Daily Cash-Flow Forecast
• Start with a template.
• Show expected expenditure/income dates
–Wages/Salaries/Regular Drawings
–Creditor Payments
–Tax Obligations
–Debtor Payments
• Debt breakdowns
–Payment Plans
–Loan Payments`
• Identify
Estimated amount and day
Fixed amount and day
11. Let’s Analyse our Statement:
Where are the Crunch Points?
•
•
•
•
•
•
•
Estimates/actuals
Overdraft
Cash flow issues
Debtors
Creditors
Bank manager
Accountant
12. Key Elements
TE
LA TS
H
Business Planning
NIG
Budget Systems
LIQUIDATION
Personal & Team Development
&
D
BANKRUPTCY
COL EBT
LE C
TION
Cash Flow
Monthly Reporting
Management Systems
Debtor Management Systems
Creditor Management Systems
SET TIMER… 10 mins
Hello and Welcome… I met a lot/a few/many of you on the way in, and for those that I didn’t, my name is Nicky Dargie. My husband, Richard and I own DMG – Develop Manage and Grow.
Thank you for making the time to come and think about your business.
Story… Last week I was listening to radio sport and they were talking about the make up of the All Blacks team that played Japan on Saturday. There were 6 new caps playing. I realised that Steve Hansen and us today have much in common. When looking at the long term game, you always need to be doing new things…
And that is what we are here today for!
Today we are going to cover
Why is having a financially fit business important?
What are the key elements to a financially fit business?
And then I will show you how to set up a daily cash flow.
Firstly it’s important to talk about DMG before we start.
We have an experienced team that provides all aspects of back office support.
These are also our brands… We do have some information for you to take if you would like to know more.
But of course it is all about me!
I have been in business for 14 years, and personally are a MYOB certified consultant.
DMG is an MYOB approved partner all though we support a range of different packages
We partner with Accountants around the country
My area of Expertise is training, having trained in excess of 800 people.
Whether it be one-to-one, in-house or workshop environments.
What really drives me is helping people be successful in business.
I would like to share a couple of quotes with you.
Lets Look at the key elements of a Financially Fit Business
It is NOT, Being up all night working on your business.
It is NOT, Sending your clients to Debt Collection or being sent to Debt Collection.
It is NOT, Company Liquidation or Personal Bankruptcy
It IS, Debtor Management Systems that ensure you are paid for goods and services you provided.
It IS, Creditor Management System that are up to date and have you in the drivers seat.
It IS, Budgeting Systems that are realistic.
It IS, Monthly Reporting that keeps you informed on your businesses performance.
It IS, A Business Plan that details where you are going and how you are going to get there.
It IS, Developing yourself and your team to ensure you have the right people in the right seat on your business.
And Lastly, it is looking at the day to day reality of your Cashflow and taking away the What-If’s.
Allowing for Pro-Active Descision making and therefore Increased Profits.
SET TIMER… 20 mins
SET TIMER… 10 mins
Okay folks, it is not time to analyse our statement… What is it telling us?
Where are the crunch points, what options do we have?
So how do we make this work on a day-to-day basis?
Unfortunately we do not have time today to go through it all, that will be covered in our full course.
So we know what is NOT part of a financially fit business.
I believe that your Cash Flow Management Systems is the stabilising block, and the one system that results can be seen as soon as you implement it.
Next is dependent on your business I would recommend the order to look something like this…
Are there any Questions?
I have a couple of other things for you to do
Firstly you are going to identify your strengths and Challenges, with our Business Health Check. I will give you 1 minute to complete this. This is for your eyes only. There is no expectation that you are going to share this information.
From there you can ID the DMG course or service that will solve that problem.
Lastly I would like you to complete the course feedback form for me.
Our time is up, at the beginning we made a commitment to be finished by 1.15… Feel free to help your self you another cuppa, and if anyone would like to catch up we will available for the next half hour or so.
At DMG we are committed to helping you create a Financially Fit Business. Thank you.
SET TIMER… 10 mins
Hello and Welcome… I met a lot/a few/many of you on the way in, and for those that I didn’t, my name is Nicky Dargie. My husband, Richard and I own DMG – Develop Manage and Grow.
Thank you for making the time to come and think about your business.
Story… Last week I was listening to radio sport and they were talking about the make up of the All Blacks team that played Japan on Saturday. There were 6 new caps playing. I realised that Steve Hansen and us today have much in common. When looking at the long term game, you always need to be doing new things…
And that is what we are here today for!