Your business is on a unique path—following your vision from start-up to success. As you navigate this journey, your passion and dedication keep you moving forward. PICU can help you go even further. Our Small Business Best Practices Guide covers six important areas of financial management for small business owners.
Each part of the guide includes a straightforward checklist of best practices. Implementing these steps will give you greater confidence and success as your business grows and changes over time.
Before starting your business, it’s imperative that you create a business plan and a financial plan. Establishing the right financial practices at the outset will form a strong foundation and help you avoid unnecessary expense and hassle down the road
Controlling Cash Flow
Avoid surprises by staying on top of your business cash flow. Good practices here can lead to positive discussions when you’re working to grow your business in the future.
Even the most experienced business owners should always take the time to evaluate how the business is going. It is likely you’ll find something you can change to improve your business.
Growing Your Business
Whether you’re ready to grow your business now or in the future, every business owner should prepare for growth and understand financing options.
Ongoing risk management practices are necessary to protect your business and personal assets. Talk with your CPA, attorney, banker and technology provider to determine which specific steps are right for your business.
Planning for Business Transition
As you think about potential business transition, it’s important to have a realistic exit, sale or transition plan well in advance. This will minimize surprises and help you realize the maximum value for your business.