As every business owner in Northern California knows, running a business is no easy task. It requires a significant amount of time and money, not to mention a fair share of sweat and tears. Of course, the hard work you put into your company can pay off substantially. But for your business to become successful, you need to plan ahead. Business planning is critical to not just your company’s growth but its eventual success as well. Without sufficient planning, there’s a greater risk that you’ll run into problems that you could have avoided, as well as miss out on opportunities that you could have capitalized on. We recommend working with our small business planning service at J.R. Martin & Associates to ensure that neither happens. Our team of highly experienced and knowledgeable specialists can provide extensive business planning services that cover the following:
Without a proper budget in place, you could find yourself running out of money when you need it most, causing your business to fall behind. For instance, the inability to pay for supplies two months down the road or no longer having the funds on hand to invest in upgraded equipment are just two ways that a lack of a comprehensive budget can hurt you in the future. Our team of financial specialists will help your company put together a budget that includes both fixed and variable monthly costs. By calculating and estimating the funds you’ll have on hand every month, we will be able to determine how you should allocate funds to best support your business needs.
A cash flow analysis is required to determine whether you’ll be able to invest money into certain assets or whether you will need to secure loans at specific points in the future. Our financial experts can perform a cash flow analysis to calculate how much money your business is generating and spending over time. You’ll have a better idea of how much cash your company has available at any given time, which will be invaluable information when it comes to creating your budget and planning ahead.
You should know what your competitors are doing so you can plan your business strategy accordingly. We can help you put together a competitive analysis that identifies who the competition is, their unique selling propositions, their place in the market, and what strategies they’re applying (and whether they’re working or not). You can learn a ton from a comprehensive competitive analysis — including what types of tactics you should invest in and what tactics you should avoid. The more detailed your competitive analysis is, the more capable you’ll be at creating a successful business plan for your own company.
Small businesses, especially those that have just gotten off the ground, will often have to spend a significant amount of money to secure assets that their company will need to grow, such as inventory or equipment. A credit analysis will determine your company’s ability to meet its financial obligations. When our team conducts a credit analysis, we will consider the amount you currently owe and your capacity to make payments. This data is crucial to determining whether you can afford future investments (especially if you need to secure a loan to make them). A credit analysis will also let you know whether you’ll qualify to secure loans in the future.
If you’re planning any large investments down the road, you may not have the cash flow to pay for those investments straight up. If this is the case, you will need to obtain financing. Not only can we help your business obtain the financing it needs, but we can also find the best financing options for your company to ensure that you get the most favorable terms available.
Successful businesses are ones that always have an eye on the future. As such, you must incorporate a business plan that will help your company grow. We tailor our business plans to the needs of each client. By working with us to craft your business plan, we can help put your Redding, CA, business in a position to succeed both now and in the future.
Speak with one of our Trusted Advisors to find out which of our packages is best for your business needs.
1155 Del Monte Street
Suite A
Redding, CA 96002
(530) 561-5859
info@jrmarticpa.com
About J.R. Martin CPA
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