用分数首席财务官为经济不确定性做准备

这些天每个人都在担心经济的不确定性. 一项调查显示 98%的ceo预计2023年将出现经济衰退尽管他们认为这将是“短暂而肤浅的”.作为回应, they are battening down the hatches—taking steps to constrain costs and maximize revenue. If economic predictions have you feeling uncertain and overwhelmed about your own company’s future, 没有必要恐慌.

Reducing costs and growing revenue are fundamental business goals. Right now, though, it’s time to reassess, so you need to stay nimble.

注意你的数据警告信号

Your business is most vulnerable going into a recession and coming out of a recession. 记住，现金为王. 如果你反应太晚，就会陷入低迷, you'll burn excess cash and you will have less available to you as the economy turns around.

关键是 在你的控制范围内管理风险. There is no point in wasting time and energy on things you cannot control. 保持灵活的成本结构和商业模式, you must proactively devise an action plan for any potential slowing of sales and profits.

• 更新会计记录. Focus on accounts receivable to improve cash flow and reduce debt. 冲销逾期应收账款，享受税收减免, and re-evaluate relationships with clients that are past due.
• 探索降低风险的策略. If possible, stock up on production or operations supplies. With interest rates rising, lock in rates wherever you can right away.
• Identify discretionary expenses and overhead you can reduce or defer. 你想在不牺牲利润的情况下保持利润 长期增长计划, so if it’s not part of your long-term plan, it needs to go. 准备做出艰难的决定.
• 公司应该从内部审视他们的员工.  你应该评估一下自己的需求, 确定员工是否在合适的岗位上, and look at ways to optimize your human capital that align with your priorities.
• 重新考虑资本开支. If something isn’t absolutely necessary right now, should it be put off?

• Think about near-term adjustments to your strategy, pricing, or product mix 这也许能帮你渡过难关. Some products may do well during a recession if customers consider them necessities, 所以要推销那些不太可能卖出去的产品. 对流动缓慢的存货打折以产生现金.
• 考虑与战略供应商谈判协议. You’re reassessing, and so are they, and you need to be sure they will be there for you. Get together with them—at least those most strategically vital to your organization—and discuss how you can support each other through tighter times. 如果你能避免对你的条款做重大修改的话, you can avoid having to push those costs onto your customers, 他们会感激的.
• Explore outsourcing functions to a vendor to increase efficiency. 外包是预算友好的，因为你很具体, high-level expertise without paying ongoing salaries or benefits. 考虑一下现在是不是时候 引入部分首席财务官或财务总监支持 帮助你为经济衰退做好准备.
• 尽可能使用自动化. Automated tools and streamlined processes save time and money, so they can replace eliminated FTEs and help remaining personnel work more efficiently. If you need help evaluating what’s best for you, we can help.

Connect with your customers now, too, because they are also reassessing their position.

维持一个堡垒资产负债表

Maintaining a financial bill of health that can withstand shocks is paramount in a recessionary environment. 和, 再一次。, it is something that will put your business in a stronger position under any circumstances.

• 注重保持充足的流动资金 在经济低迷时期维持你的生意. 俗话说，现金为王，尤其是现在. You should always have enough strategic reserve to handle 60 days’ worth of sales and general operating expenses. 如果你现在缺的话, it is imperative to collect your receivables so you can manage cash on hand efficiently. Maybe you have relied on a line of credit to handle short-term cash needs, but that may not be available if recession becomes a reality.

On the other hand, increase your line of credit if possible. 但在你问之前, ensure you’ve done everything recommended here to be sure all your financials are in good shape.

For business owners, think about your personal liquidity, too. Consider pulling out cash now, you can hold that in reserve for when the business needs it.

• 考虑主动为债务再融资 将在未来一到两年内到期. 你能延期支付本金吗? 这将为其他需求腾出更多现金.
• 与贷款人保持对话. 现在是充分披露和透明的时候了, with timely updates on business performance and cash management. If you try to hide problems with delayed financial reporting, 你可能会永久地毁掉你在贷款人那里的声誉.

立即完成所有这些事情

It’s crucial to get your financials in order immediately so you are well-prepared—even if you have to hire a temporary bookkeeper or Controller to get the work done. 是时候提高你的预测和外包了 Controller or fractional 首席财务官 can help you test different future scenarios. With that, you’ll be in the best possible position no matter what happens. Simply getting a consultation can help you prioritize decision-making and see where you may need additional aid as you plan for tighter times.

It is recommended to do three levels of financial stress testing:

1. 最好的情况
2. 基本操作
3. 最坏的情况(你颠倒了)

记住，经济的不确定性不是永久的. Business planning is an important mental process that focuses on the what-ifs more than the numbers. If the worst happens, how will you stay in business and meet your commitments? When you have a plan for that, you’ll be prepared to respond no matter what happens.

Sometimes an outside expert is just what you need to think through modeling and cash flow projections to help you get your accounting in order. Leveraging specific financial knowledge and insights now will strengthen your company in good times or bad.