Cash Planning Checklist
- Understand available programs and apply as needed. PPP should be first on the list.
- Open a business line of credit. $250 annual fee for access to $50,000 to $100,000+ line of credit.
- 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
- Rent - Request forbearance or deferment.
- Terminate underperforming employees. Increased unemployment benefits are state benefits plus an additional $600 per week until July 31, 2020. Watch PPP timing.
- Calculate ROI on rainmaking spend. Where needed, use CallRail or similar tools to provide objective lead attribution.
- Review report of all vendor charges or bank statements. Cut unnecessary overhead costs.
- Create a cash forecast for the remainder of 2020.
- With the opportunity to improve the firm, what tools are needed to prepare for future revenue influx?
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