CACC Lunch + Learn | Ten Key Strategies to Improve your Small Business Cash Flow
Wednesday, June 14, 2023 (11:30 AM - 1:00 PM) (EDT)
The most common challenge for small business owners is to generate enough cash flow to expand their customer base, operations and people. Toby Kaye, founder and owner of The Thryve Group, will provide practical strategies for small business owners to increase cash flow and profitability from their current customers and operations. The strategies presented will focus on tweaks to your business that can deliver immediate results as you set the stage for potential expansion. Toby will present topics and break them down by focusing on:
-Business challenge (background)
-How the challenge impacts cash flow (impact)
-Actions business owners can take (solution)
Things to think about:
Freshen up – Remix your Product Mix Inventory - Put the cash flow beast on a diet- Inventory Management Highlights Get paid faster on your terms – AR collection accelerator Is that customer still the right fit? – Customer selection and cessation Get paid what you are worth - Customer Segmentation and Pricing Take a load off – Make your debt work for you Spending smart – Optimize expenses for ROI on each dollar spent Stay one step ahead of your cash - Why make a cash flow projection and tips to make one super-fast Stop spinning your wheels by doing more working less - Process Optimization and Automation Time to get paid – Owner’s compensation and benefits
Thryve Group Background
Thryve is an accounting firm geared to assisting small business owners grow. Thryve provides an integrated and customizable “accounting department as a service” including bookkeeping, fractional CFO and tax services. The firm prides itself on its high-touch client service model and deep understanding of its clients’ businesses.
Toby Kaye is the founder and CEO of Thryve. He formed Thryve as a project to actualize his passion for helping small business owners. He has assisted dozens of small business owners to grow their businesses, combining the rare qualities of an accountant’s head with an entrepreneur’s heart. Toby spent more than a decade working in both global and regional public accounting firms prior to establishing Thryve. Those years provided a strong professional and technical foundation to Thryve. Toby is a Certified Public Accountant registered in Ohio. He received his Bachelor of Commerce from McGill University and Master of Taxation degree from University of Akron.