I’m no superhero, but I have saved more than one SMB from going bankrupt.

2 years ago, I worked with a 7-figure short-term rental company. The owner knew he needed help but didn’t know how bad the situation was.

So, I first assessed the situation by building a cash flow forecast—and what I found saved the business.

My team and I showed him that as he moved out of the busy season and into the slower months, he would start running out of cash.

And you know what that means.

No cash = no business.

If you run out of cash, your business dies.

Luckily, we were able to help him survive, get a 6-figure credit line for added security, and reverse the situation.

At a high level, here’s what we did.

1. Cleaned the books

2. Organized the financial records

3. Built a plan

If he hadn’t reached out to us, he would’ve just woken up one morning, paid payroll, and then realized he didn’t have any money left in the bank account.

When owners find themselves in this situation, getting much-needed financing becomes extremely difficult (unless you get a 28% bridge loan).

You should always pay attention to your cash—not just how much you have now, but rather how much you’ll have in 6, 12, and 18 months.

While you’ve probably heard me repeat some iteration of “cash flow issues are the leading cause of business failure,” or “the best time to inject liquidity is before you need it” too many times to count at this point, I haven’t gone into as much detail about how to right the ship when cash starts to run out.

So, the next 3 weeks will be dedicated to breaking down the how of rescuing your business—should you ever find yourself in dire financial straits.

Next week, I’ll walk you through my 6-step process for cleaning up your books. The best part? You can do all of it without hiring a professional if you so choose.

The following week, we’ll build on the work we did to clean up your books by breaking down everything you need to do and know to arrive at clear, actionable reporting.

Finally, we’ll close the series with a how-to on turning the ship around and setting your business up to thrive moving forward.

Hope to see you there

In the meantime, if you’re struggling with cash issues or just want to be sure that you’re on the right track, feel free to hit reply or shoot me a DM.

As always, I read every message and am happy to help.

Hungry for More?

1. Follow me on Twitter and LinkedIn for daily content to take your business to the next level.

2. Shoot me an email with your questions or requests for what you’d like me to write about next.

‘Til Next Time,

Connor