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DAY ONE

Six things the person who runs cash needs on the first day.

Whoever runs cash, a new finance lead, a fractional controller, or you, needs six things on day one. Without them, the first month goes on finding out what the business owes and when.

  1. Access to every accountBank, card, processor and marketplace accounts, read-only at least, with balances, pending funds and any holds or reserves.
  2. The purchase order bookEvery open order with its supplier, amount, deposit, balance, due dates and expected arrival.
  3. Inventory by product, at costOn hand, in transit and on order, with the last four weeks of unit sales beside it.
  4. Everything the business owes customersGift card, store credit, prepaid plan and unshipped preorder balances, and the breakage policy if there is one.
  5. The fixed calendarPayroll dates, rent, software, tax deadlines and loan payments for the next quarter.
  6. Every financing agreementLines, loans and advances, with limits, rates or fees, repayment terms and covenants.

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Written by Andrew Lauchner, a growth and retention operator for consumer brands. The paid work is one ninety-day Sprint.

This is one chapter of Cash Before Growth, which is free and readable in full on a single page with no form in front of it.