Chris Hervochon was interviewed for American Express article
By Geoff Williams |. American Express
We all know how important forecasting cash flow is to running a successful business, but how do you do it? What do you look for? Business experts weigh in on how they do it for their companies.
Chris Hervochon, the owner of Better Numbers, a firm based out of Hilton Head Island, South Carolina, points out that there may not be a major problem with your system for forecasting cash flow. Maybe all you need to do is some tinkering and reexamining your key clients.
“For instance, I work with a social media marketing agency that spends hundreds of thousands of dollars a month on social media ads,” Hervochon says. “Until recently, they were invoicing their clients in the month following that ad spend, which eventually created a cash crunch. Now, they invoice upfront so that cash is in the bank when they need to spend it to service their clients.”
