Cash Flow Planning and Control for Small Business Owners Financial Coaching Toolkit

In this lesson, we dive into the important practice of separating business and personal finances. You’ll learn why this separation is essential for clear financial analysis and decision-making. We’ll cover practical steps on how to effectively distinguish between business and personal expenses, which helps in providing targeted and effective financial advice.This lesson is 50 minutes and contains 1 handout.

This lesson focuses on interpreting your client’s financial details to define your coaching strategy. After separating personal and business finances, you’ll analyze monthly expenses, income sources, necessary business-derived paycheck amounts, and total business expenses. This clarity helps identify priority areas and shape an effective coaching plan.You’ll learn to assess the client’s financial summary, understanding the adequacy of their paycheck, the consistency of their income, and overall expense management. We’ll guide you on how to evaluate these elements to determine the most pressing actions needed to stabilize and enhance the client’s financial health.

This lesson is 26 minutes and contains 1 handout.

In this lesson, we focus on helping business owners confidently establish a consistent payment system for themselves. It explores the importance of setting up a regular paycheck to stabilize personal income and reinforce the legitimacy and routine of the business. We begin by determining the necessary paycheck amount based on personal expenses and other income sources. Additionally, it addresses common emotional reactions and mindset shifts that occur when business owners start paying themselves, such as pride or apprehension, which impact their view of the business. Advanced pay structures, like bonuses or profit shares, are considered once the basic salary is established, tailoring to the business’s profitability and the owner’s personal financial goals.This lesson is 40 minutes and contains 1 handout.

In this lesson, we explore strategies for coaching clients through both long-term and temporary revenue shortfalls. You’ll learn how to identify the type of shortfall, whether it’s a persistent issue where monthly revenue consistently fails to meet expenses or a sudden dip due to unexpected circumstances. The session utilizes the Plan Ahead Method™ to predict potential shortfalls and prepare accordingly. By integrating practical exercises from earlier lessons, you’ll guide clients in recognizing their financial challenges and brainstorming viable solutions. The focus is on empowering clients to make informed decisions quickly, whether by adjusting pricing, increasing revenue streams, or strategically managing expenses.This lesson is 48 minutes and contains 1 handout.

This lesson is designed to help business owners establish and maintain a robust system for managing their business cash flow. It includes setting up efficient systems for revenue collection and payments, and ensuring all financial transactions are clear and controlled. By the end of this lesson, business owners will gain the tools and insights needed to transform their cash flow management from chaotic to controlled, enabling better financial decisions and increased business stability.

This lesson is 57 minutes and contains 1 handout.

This lesson explores the application of the Plan Ahead Method™ in managing the cash flow of small business owners, focusing on handling fluctuating income and utilizing multiple checking accounts effectively. You will learn to tailor the Plan Ahead Method™ to fit diverse business models, helping your clients see their financial activities more transparently and planning proactively for financial stability.

This lesson is 47 minutes and contains 2 handouts.

You’ll learn to apply the Plan Ahead Method™ to various financial scenarios in a small business, from handling unexpected costs to strategizing for tax payments. This proactive approach is essential for business owners who often deal with unpredictable financial landscapes and need a robust system to maintain stability.

This lesson is 38 minutes and contains 1 handout.

This lesson is designed to help small business owners understand and manage the inherent fluctuations in their revenue. Whether due to cyclical business models or external market conditions, the management of these variations is crucial for maintaining financial control and reducing stress. This lesson teaches how to analyze patterns of revenue variation and implement strategies to stabilize income.

This lesson is 33 minutes and contains 1 handout.

In this lesson, we explore the critical role of collaboration between financial coaches and accountants or tax professionals in managing a small business owner’s finances. Recognizing the unique position coaches have in understanding their clients’ day-to-day financial activities, this training highlights the importance of forming a productive alliance with accountants and tax professionals to enhance financial strategies and client success.

We’ll cover effective communication strategies with accountants, the process of integrating efforts with tax professionals, and tips on assisting clients without a current accountant to find a suitable one.

This lesson is 30 minutes and contains 2 handouts.

Help your clients develop simple and effective organizational systems for receipts and emails, which are crucial for accurate expense reporting. Often, the area of tracking expenses causes stress and avoidance, which this lesson addresses by providing simple steps to maintain organization throughout the year. This reduces the stress associated with tax preparation and ensures readiness for accurate financial reporting.

This lesson is 15 minutes and contains 1 handout.

This lesson is designed to facilitate discussions with business owner clients about planning for the future beyond just the basic operational needs. It covers how to guide conversations about long-term savings and “nice to have” items, focusing on how clients can plan for growth, enjoyment, and future stability in their business.

This lesson is 70 minutes and contains 1 handout.

Equip your clients with the tools and knowledge to prepare for business emergencies. This lesson will help them assess risks, determine the necessary size of an emergency fund, and develop a robust plan to handle unexpected financial crises.

This lesson is 38 minutes and contains 1 handout.