Ensure a Long Journey: Stay Solvent
Money is more than essential for your organization's survival and success. If your organization is not making money, it is insolvent. Spend imprudently and you compromise your profit margin. A business continuously short on cash finds it increasingly difficult to retain talent, invest in product and service areas that lead to growth, and borrow money. Then it becomes a vicious cycle. Over time, your clients and constituents will suspect you're barely staying afloat and consider moving on to your competition. That's why at Buffamante Whipple Buttafaro, P.C., growing your money is our top priority.
Let BWB help you to:
- Improve your programs. Let's look at how you currently spend your money and what programs you have in place to grow revenue. We'll ask how we can make your current processes more efficient and how we can maximize your marketing efforts. We will look at whether you have the talent you need to continue to grow your business and how to improve your training and accountability programs to keep your staff on their "A game." From there, we'll help you to design and implement an improvement plan to start increasing your cash flow.
- Choose between leasing versus buying. At BWB, we know first-hand that buying property or equipment is a huge business decision. When we perform our lease vs. buy analysis, we'll take a close look at the nature of your business, its potential for growth over the next 3 to 5 years and what trends lie ahead within your industry. We'll also review with you the pros and cons--leasing equipment will make it easier to upgrade this equipment over time but buying also enables you to file with purchase in your tax returns.
- Forecast and project. As a business leader, you are constantly in the position of spending money. Businesses must spend money to make money. However, if there is limited cash flow, you must depend on loans to make your purchases happen or suffer insolvency. To ensure you continuously have money to cover your overhead, BWB will work with your organization to forecast and project the money you will generate over a certain period.
- Allocate costs, prudently. If you're with a not-for-profit organization, BWB can help you to develop your cost allocation plan necessary for grant reporting and program evaluation. Together, we will identify direct and indirect costs and determine your cost allocation base.
- Invest wisely. One of the most savvy ways to ensure the long-term success of your business is to build an investment profile. Making sound investment decisions can ensure your organization has cash reserves even when the economy suffers. At BWB, our high-caliber team of business consultants can help you determine where to invest your money so that it continues to grow for you over time.
- Plan retirements. If you're considering offering a retirement plan for your employees, fabulous. At BWB, we firmly believe that retirement plans not only help to retain top quality staff members but we also believe they are excellent tax shelters for businesses. Yet again, another win-win.
- Budget. Without a proper, realistic budget, your company's spending can reign out of control. When you work with BWB to help your company with budgeting, we'll look at the areas where your company is over-spending and help you to determine a spending plan for your entire staff to follow. We understand that an outside eye can be extremely fruitful in this area. You do not have to go it alone. Call us.