Financial Topics Worth Talking About in 2020 -The Year in Review
There were more firsts this year than any of us care to count. Some issues, however, have been around for a very long time and aren’t going anywhere. In fact, many are more important than ever before. Financial strategies and solutions, infrastructure, investor relations, and negotiations simply do not quarantine themselves, even during a global pandemic. Rather, the pandemic forced us to be even more diligent when it comes not only to our physical health, but also to our financial health.
Before we start crunching the numbers of 2021, we thought it was a good time to reflect back on the topics we found most crucial in 2020. Click below for some refreshers, as you prepare for the new year:
- Getting to Day Zero: The importance of “Day Zero” being top of mind at the beginning of each month for proactive organizations.
- Help Investors Spend Their Money: How the amount of money in the hands of Private Equity and Venture Capital firms substantially increased over recent years – the total money raised in 2008 was $392 billion as compared to $740 billion raised in 2019.
- Essential Infrastructure: The right infrastructure is critical to generate data about your business during the due diligence process with potential investors.
- Negotiate from a Position of Knowledge: Valuation is the value an investor would place on your company if you were to seek investment funding. Your company can be valued based on what someone will pay for it or what the market will bear.
- To Eat Eggs or Not – That is the Question: The varying trends of outsourcing a function within an organization, and when you should consider it.
- Don’t Just Hope for the Best – What Does the Data Tell You: What steps should be taken to gain a confident understanding of your business’s financial position.
- Times Have Changed, or Have They?: With all of the year’s changes, one thing that hasn’t changed is the core fundamentals of business. In order to survive (pre- or post-pandemic), a business must have a product or service that solves a problem and can financially make a profit.
- Oh No Not Again: The importance of having a clear vision and financial roadmap for your business through having the right infrastructure in place, including an Enterprise Resource Plan, CRM, General Ledger, Cash, HR System, and Payments.
- Stay Safe: Leaders must set priorities that have measurable results with employees, even if the employee is working from home or transitioning back to the office.
- Keeping Your House…and Your Books…In Order: Seven tips on how to keep your books auditable and help reduce your audit costs.
- Dogs will Lie, but the Numbers will Not: With the right infrastructure in place, you have the data to provide answers to the questions asked by investors (and your own Board of Directors)
- Could Due Diligence Impair Your Exit Strategy?: The primary factor leading to next-round challenges is the enhanced due diligence investors are performing now compared to pre-pandemic.
- Choosing Gratitude: Looking beyond the challenges of uncertain times and expressing gratitude.
- Bonding with Budgets: The three primary budget considerations for any organization.
- At the Intersection of Financial Infrastructure and a Global Pandemic: How a pre-pandemic shift left companies vulnerable and what to do next.
If you have any questions about these topics or how to start your new year on the right financial foot, we can help. Let’s set up a time to talk! Use this link to my calendar to choose the best time for your free 30-minute consultation.