by Patrick Thean and the Rhythm Team
Over the last year, Rhythm Systems team members have really focused on the importance of process improvements. How do we do our jobs better, become more efficient, and even save money in the long run? As any company grows, time is a key factor in everyone’s busy schedule. It is best to setup HR processes that are scalable.
Have you ever wondered “Can we cover payroll this month” or “What if that big deal doesn’t come in? Will we be ok to make payroll?” How many months cash do you have in time of crisis or seasonally slow sales times? To put together a Cash Flow Runway is an easy way to predict these answers. We look at this weekly, it is a regular KPI in our weekly meetings and everyone on the Executive Team knows the answer to all the above questions. Here I will show you how to put together a Cash Flow Runway so that you will know the answers as well for all your planning needs.
Each year, we put together a financial budget for the upcoming year. We try to anticipate what the new year will bring in Revenues and Expenses, whether that is by calculations, growth patterns, or wish list items. We add variable expenditures not knowing if they will get priority or not.
It was December 2014, we were in 2015 Annual Planning when the discussion of “a conference” was brought up. Like many times before, we had discussed or tossed around the idea of “doing” a conference. We discussed the pros and cons of a conference, what type of conference, what was our winning move going to be. Then, the question came: “Who is going to work on this?” Who has time away from their day job?
Ready to speak with a mid-market expert? Find out how we help high growth companies execute their growth strategies and win!
