Sunday, September 7, 2025
It’s very hard to manage a business if you aren’t on top of the finances as well as the processes you use to make financial decisions: what are the ratios, how are you forecasting, and how are you tracking to budget?
And yet, from time to time, there are things that come up opportunistically; if you don’t pounce, the opportunity will pass, so you reach into your budget to make it happen.
One source of opportunity is the unexpected cash infusion: several unanticipated big sales, or a new round of financing.
Putting aside the idea of just banking the cash, here’s the question: If you had this extra cash to spend, where would you spend it?
Consider your marketing, sales, debt service, product development, infrastructure, tech, people, or team development: you name it – where should the new investment go?
This week’s action plan:
I would love to hear your answers.
Leadership Insight: Your answer obviously depends on the amount of unencumbered cash that is available. An extra $5k or $50K might be spent on something short-term or tactical. The real question for leaders is to consider what to do with $500K or $5M. And if the plan makes sense, then not to wait around for the money to drop in your lap, but to go out and get it.
Leadership Insight #2: How would your team answer this question? Your board? It’s not just their ideas, but the value is in the conversation that it generates. Consider adding this to the agenda of your next offsite retreat.
Does this topic resonate? Reach out to Randall: he can present it to your group. (More presentation topics)
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