'Tis the Season for... Seasonality?

Now that we’ve moved into November, I’m talking to many businesses who are solidly in the holiday season.

Here in the twin cities, that looks like:

• Companies who do outdoor work like siding or roof replacement are day-to-day trying to squeak out the last projects before the weather officially shuts things down until spring.
• Companies in hospitality like catering or events are bracing for the rush of holiday parties.
• Companies who focus on personal development or fitness have a couple months to enroll resolution makers and jumpstart January.

What does seasonality mean behind the scenes for businesses?

Cash flow challenges.

The amount of money coming in and going out is just one piece of the cash flow puzzle.

Figuring out how to manage the timing of that money flow is equally important and a whole lot trickier for many businesses.

Whether your current season is slowing down, getting slammed, or ramping up, it’s a great time to get your money off the rollercoaster ride and figure out your system to track cash flow.

Here are three signs you need a cash flow system:

• You look at your bank account to figure out if you can buy something in the moment.
• You don’t know how much money will be coming in the door in the next month.
• You haven’t set a minimum balance to keep in your bank account that’s based on your expenses.

If any of these sound familiar (and especially if all of these sound familiar!) I can help you solve these problems. Reach out via the contact form and let’s chat!