Why Businesses Fail?
Reason For Failure
Reason For FailureiCFO Antidote
Overexpansion - Added overhead can induce businesses to overextend themselves financially
iCFO strategic planning, cash flow projections and sales/trend forecasting provides the information that business owners need to determine whether or not the company can manage the cost of expansion. Once a decision has been made, iCFO budgeting services can help keep expenses in check during the carefully planned expansion process
Poor capital structure - Taking on too much poorly structured debt can quickly deplete cash flow and bury a business during hard times
iCFO is equipped with a staff of experts who have extensive experience in helping business secure the financing they need and structure a healthy amount of debt that is designed to allow for measured growth, steady cash flow, and flexibility during challenging times
Overspending - A poor understanding of the overall financial picture often leads to irresponsible spending decisions
iCFO consultants prepare detailed monthly financial statements that give business owners a firm grasp on profits and losses. More importantly, iCFO provides clients with cash flow projections and expense streamlining that will help minimize unnecessary expenditures and free up funds for priority expenses
Lack of reserve funds - Failing to prepare for uncontrollable costs is another top reason many businesses fail.
iCFO puts all of our financial consultants through a unique training program that emphasizes smart finance management based on data from a broad range of industries. Our consultants use these data-based metrics to ensure that clients are in line with industry standards for capitalization, cash flow, profitability, and funds in reserve
Poor execution and internal controls - Poor accounting control and process engineering can be a major profit-killer.
iCFO is built on the premise that the best decisions are well-informed decisions. Using our experience and knowledge base, iCFO consultants are able to bring the best practices from a variety of industries to our clients and their business. Importing these concepts allows our clients to refine their policies and protocols to maximize profitability instead of losing dollars on poorly designed procedures
An inadequate business plan - A well-researched business plan is the foundation of a business, too often owners stray from the plan into uncharted territory.
iCFO consultants specialize in building effective, well-researched business plans from the ground up. A properly designed business plan will guide the business through both profitable and challenging times as well as make the business attractive to lenders and investors ensuring that our clients are well-capitalized
Why Businesses Fail?
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