IBA Members Meeting-Financial Management

Bootstrapping is all about making the best use of our limited resources ÂÂ- especially the cash! So this monthÂÂ's peer meeting topic will focus on the bootstrapping discipline of Financial Management. Our Member peer groups will be discussing concepts like budgeting, cash flow management, collections, open book management, and capital investment decision-making. Here are just a few examples of the Financial Management challenges our Members will be discussing with each other ÂÂ"Currently, IÂÂ'm the one handling all of our bookkeeping ÂÂ- I pay the bills, make deposits, write payroll checks, etc. I canÂÂ't afford a bookkeeper but have been told I should have one. What experience do you have doing your own bookkeeping vs. having a professional do it? ÂÂ" ÂÂ"I just donÂÂ't have enough money leftover each month to pay my bills. What creative techniques have you used to stretch a dollar?ÂÂ" ÂÂ"One of our best customers has started to pay later and later and it is creating quite a burden on the companyÂÂ's cash flow. What techniques have you used to speed up collections?ÂÂ" ÂÂ"I make all the financial decisions for the company. Revenue has gotten really tight lately, and my employees donÂÂ't understand why they need to accomplish more with fewer and fewer resources. How much information about the finances of the company do you share with your people? How has that worked out?ÂÂ" If youÂÂ're facing similar challenges, and would like to find out how other bootstrapping entrepreneurs have dealt with those same challenges, please join us. To attend this meeting, you must register at www.bootstrappingassociation.org/join.html. Non-IBA Members can attend their first IBA monthly peer meeting, as our Guest, free of charge.