8 Workarounds to Manage Your Cash Flow if Finance is Not Your Strong Suit

Cynthia Wylie
4 min readFeb 15, 2024
Photo by krakenimages on Unsplash

It could save your company.

Whether you are a startup or a small to medium enterprise (SME), you will always need financial savvy to function and grow or you will fail.

Unfortunately many business owners are not adept at numbers at all. Usually they are designers, marketers, programmers or even sales people. If you count yourself in that category, read on because this is vitally important for your company’s survival.

First of all, you are not alone. My first job out of graduate school was in investment banking. One of my first tasks was to write a private placement memorandum to raise capital for a savings and loan customer.

I had no idea what I was doing. I was an econ major and while I was great at math and even taught statistics to undergraduates, I didn’t know how to even read an income statement let alone crunch numbers that would be a necessary part of my job.

Luckily, my office mate and later one of my closest friends had just graduated with an MBA from the Anderson School of Management at UCLA. She taught me how to read and analyze financial statements.

I still remember her teaching me about balance sheets, which are not intuitive at all when you think of it.

“Remember, a balance sheet is just a snapshot in time,” she said. “It will change from day-to-day.” And for comparison she explained, “An income statement is an accumulation of a period of time.”

Thank you, Michelle.

Ensuring you have enough money to start, survive, manage and grow your company comes down to one main thing: financial acumen.

And if that is not in your skill set, fear not, I’ll give you some workarounds.

Analyze Your Financial Statements and Make Changes Accordingly

The purpose of analyzing your financial statements is to see where you are falling short or trending down.

Where can you cut expenses?

Should you raise your prices?

Are your gross profit margins high enough?

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Cynthia Wylie

Founder of Bloomers Island. Published children’s book author at PRH. Writes about big kid’s stuff like economics & business, too. TheProjectConsultant.com.