Cash Planning Checklist

  1. Understand available programs and apply as needed. PPP should be first on the list.
  2. Open a business line of credit. $250 annual fee for access to $50,000 to $100,000+ line of credit.
  3. Open new 0% credit card. Move all charges to the card until full.  Cheap way to borrow $30,000. Example - Chase Ink Business Unlimited 0% for 12 months. Not Affiliate Link - https://creditcards.chase.com/business-credit-cards/ink/unlimited?iCELL=61GF
  4. Rent - Request forbearance or deferment. 
  5. Terminate underperforming employees. Increased unemployment benefits are state benefits plus an additional $600 per week until July 31, 2020. Watch PPP timing.
  6. Calculate ROI on rainmaking spend. Where needed, use CallRail or similar tools to provide objective lead attribution.
  7. Review report of all vendor charges or bank statements. Cut unnecessary overhead costs.
  8. Create a cash forecast for the remainder of 2020.
  9. With the opportunity to improve the firm, what tools are needed to prepare for future revenue influx? 

 

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