Business Financial Fitness Program

All you need to know to improve your business management skills

Take back control of your business’s finances.

You know your business’s finances should be in better shape. The problem is, you don’t know where to start. Maybe your credit needs some work. Perhaps your documents aren’t as organized as they need to be. Maybe you have trouble projecting and managing cash flow.

If any or all of these problems sound familiar, don’t worry. You’re not alone. Running a business is no easy task. You have to keep your clients happy, manage employees, market your business, and manage your supplies and inventory. And that’s all before you even start on managing your finances.

If you’re struggling to keep your head above financial water, you may need to boost your financial literacy. Do you know how to repair your credit? Do you know the right way to find funding? Do you know which financial records you should keep on hand, and how to use them? Do you know how to project cash flow?

Fortunately, you don’t have to do it alone. We’ve created the Gateway Business Financial Fitness Program specifically for busy business owners like you. With nine modules on everything from financial records to cash flow to funding, our BFF Program will give you all the information you need to get your finances back into peak condition.

Check out the modules above to boost your financial fitness. When you’re done, visit our Q&A and Community areas to connect with fellow business owners. They can answer questions, help you overcome challenges, and share how they’ve improved their own business finances.

Your Business Financial Records

You can’t improve your financial condition without knowing where you stand. That’s why having up-to-date and accurate financial records are so important. Are your records current? Do you know which records are important? Do you know how to read the records and apply them to your business?

If not, check out the informative learning modules above. They’ll help you better understand your records so you can regularly review your business’s financial health.

Cash Flow Management

Cash flow is lifeblood of any business. If you have solid cash flow, you can probably overcome almost any problem. If you don’t have healthy cash flow, it will be challenging to be successful, no matter how great your product or service is.

How do you project cash flow? How do you prevent cash crunches? The five lessons above will help you get control of your business’s cash situation.

Business Income

Income is the name of the game. Without income, you don’t have a business; you have a hobby. Business history is littered with would-be entrepreneurs who had great ideas, but couldn’t generate enough income to keep their business alive.

The question is - how do you generate income? And how do you drive continuous growth? It takes a healthy mix of marketing, sales, and customer service. Here are some great lessons on how to improve all three.

Business Costs and Expenses

Of course, income doesn’t mean anything if you can’t stay under budget. Having cost controls in place is crucial to running a successful business. Your bottom line depends not just on generating revenue, but also keeping expenses under control.

Do you know your breakeven point? Do you have a budget? Do you have controls in place to ensure that you stay under budget? Take a look at these lessons to find the answers to those questions and more.

Credit and Receivables Management

The word runs on credit, as you probably know all too well. Extending credit to customers is critical if you want to grow your business. Of course, you also have to manage that credit program to make sure you’re also meeting your cash flow needs.

Are your customers taking too long to pay? Is it putting you and your business in a tough cash flow situation? Check out the tips in the lessons above to reign in your receivables program.

Business Debt

Most businesses utilize debt in some fashion to meet obligations and to fund growth. However, if you don’t manage your debt properly, it could sink your business. Above are seven valuable lessons on how to calculate your need for funding, apply for loans, and manage your financing.

Financing Your Business

Obtaining financing, especially as a small business, can be a tricky proposition. Banks can have very high qualification standards. Other lenders may have high fees and interest rates. How do you find financing for your business without crippling your cash flow?

Fortunately, there are alternatives available. Check out the financing lessons above to learn about all of your financing options.

Budgeting, Forecasting, and Planning

So you’ve gotten your finances back into shape. Cash flow is healthy. You have the financing you need to grow. You’re profitable. How do you stay that way?

This is when it helps to have strong budgeting, forecasting, and planning tools so you can keep your fingers on the pulse of your business. Anticipate financial issues before they arise. Take action early. That’s how you keep your business in solid financial shape.

Want to learn more about how to apply these lessons to your business? Check out our Q&A and Community Blog sections to share ideas with other business owners and learn how they improved their own financial fitness.

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