Are you suffering from Declining Revenues, Diminished Cash Reserves and Bloated Overhead?
In this unprecedented time a business owner must take proactive Steps.
Many of our clients have already applied for the SBA Economic Disaster Loan and the Paycheck Protection Program. We hope that you received funding. However, many people have not and for those who have it has only been a band-aid for the largest economic melt-down the world economy has ever seen.
Items to Consider:
Now comes the hard part, you need to CUT OVERHEAD!
For most companies the main Overhead component is Payroll.
It is imperative that when cutting over-head, you keep your incoming producing personal. If you are an HVAC or other service company that means keeping your technicians. If you are a Sales Organization keep your top performers.
A good place to cut costs is on the Administrative side which includes bookkeepers, Accounts Receivable clerks, and Accounts Payable clerks. Consider simple commissions and completion bonuses to keep the crew focused on performance and not their 40 hours.
You may very well be able to eliminate labor dollars in your Accounting Department but the work still needs to get done. Did you easily produce the necessary financial statements to quickly apply for the PPP loan?
The answer is AUTOMATE and OUTSOURCE.
There are many programs specifically designed to keep the financial flow of your business current and integrate with each other so your financials are current.
To schedule an appointment HERE
Give me a call or text