Frequently Asked Questions
1. What is Financial Fitness?
Much like physical fitness in terms of personal health, financial fitness is the measure of a business’ ability to evolve, adapt to changes and unanticipated events, and sustain a long life. A regular financial fitness checkup is essential to ensure that your business is on track.
A business is financially fit if it is operating on a solid foundation of:
- Providing services/products with competitive advantage,
- Marketing to promote continuous demand of its services/products, and
- Responsibly managing financial, human, and capital resources with a consistent net surplus.
Try the Financial Fitness Quiz for a quick checkup!
2. What are the common issues that small businesses face?
I have found the following to be critical issues to small businesses:
- Reliable and timely financial and management data in a user-friendly format
- Maximizing revenue and cash flow management for a positive bottom line
- Recruiting, training and maintaining capable and trustworthy staff
- Benchmarking industry data to compare against similar business operations
- Cost-effective ways to stay on top of critical compliance and tax issues
3. How much time and resources are required for a financial fitness evaluation?
A complimentary initial consultation is available to determine whether I can help you. I would spend about an hour with you, the business owner(s) and selected stakeholders to understand your needs. Then I would develop a specific proposal that includes an estimated fee and a timetable for implementation depending on the scope, the desired outcome, and the system users’ availability.
If you are ready to schedule a free consultation, please contact me at the email address on the left.