Jeff Schneider
Laura Benjamin interviewed Jeff Schneider, president of Entrepreneurial Finance & Accounting Services to get his top tips for entrepreneurs and small business owners. Although you might recognize these tips as the very basics it is definitely worth a reminder. Take a look at Benjamin’s Business Blog for the full article. There is also an audio interview.
With the recent economic downturn, more of my clients have been asking themselves the hard question of “will I survive this?” That is leading to a lot more of what Schneider recommends: Plan, plan, plan.
Nearly all business owners can project revenue or even just sales for the next 12 to 24 months. Some financially savvy entrepreneurs can take this a step further and project all revenues & expenses to produce net income for the next two years. Very few have the time or the skill to produce an up-datable financial model that not only projects Profit & Loss, but also projects the Balance Sheet and the expected Cash Flows for 24 months.
It is important for business owners to understand their cash flow needs, but in lean times it becomes critical. If you want more information on financial modeling and the services we can provide at BiggsKofford, please give Etienne Hardre a call at 719.579.9090 or use our handy contact form.
