Ahead of National Financial Awareness Day, Aug. 14, fractional finance and operations firm Focused Energy (FE) reminds business leaders of the importance of financial clarity in building resilient businesses.
The health of any business is linked to its financial well-being. A lack of financial clarity resulting in poor money management can cause a lot of stress and fear of failure. Entrepreneurs and business leaders must take extra steps in understanding their business finances and what that data is telling them.
“When things are finally beginning to look up in your business and you’re gaining traction, the last thing you want is for your progress to come to a screeching halt because of an unforeseen financial obstacles,” says Drew Lyon, FE managing partner and founder. “It is our hope that highlighting National Financial Awareness Day will spark conversations among businesses about the state of their finances and elevate decision-making for the future.”
Tips for understanding business finances
- Maintain accurate, clear financial records
- Focus on cash flows
- Ask your accounting team questions
- Compare financials with benchmarks and peers
- Review financial reports monthly
- Develop forecasts based on market scenarios to make informed decisions
- Never lose sight of your core mission and values
Sometimes taking a company to the next level of growth requires outside help. FE’s team of fractional finance and operations experts provide businesses with skills and insights they need while minimizing their dependence on full-time staff. This includes consulting services for forecasting, cash flow analysis, operations strategy, forensic accounting, debt consolidation, due diligence, legacy planning and more.
Focused Energy is headquartered at 3391 W 32nd Avenue, Denver, CO, 80211 and clients world-wide. Business leaders can reach out via phone at (844) 413-6287 or visit the company’s website: www.FocusedEnergy.work.
About Focused Energy
Focused Energy are outsourced CFO, finance, and operations advisers for small and medium-sized companies. Our multidisciplinary team provides insights to help business leaders achieve their mission, improve profitability and reduce stress – at a fraction of what they would normally pay for full-time staff. Headquartered in Denver, CO, Focused Energy has staff and clients throughout the country. For more information, visit FocusedEnergy.work.
3391 W 32nd Avenue
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.