How Small Businesses Can Make the Most of Their Cash Reserves with Phillip Ramsey and Bryan Dewhurst
Business is all about managing risk and finding opportunity. Finding that opportunity can mean that your business has excess cash on hand, more than is needed for daily operating expenses.
It seems like a great problem to have: business is going well and you have built up solid cash reserves. The idea is to maintain liquidity, but also generate some yield on that money. It’s great that it is there, but you also want to put it to work for your business in a way that is accessible and avoids unnecessary risk.
You don’t want to take your eye off the main focus of your business, but you’ve got to manage the assets your business has built up. The big question:
How?
For multi-national corporations, they have an entire department devoted to this cash on hand. This unique role is called Corporate Treasury. But what can smaller businesses do to manage their treasury, without an army of accountants and number-crunchers on the payroll?
We want to show you the variety of ways you can leverage your cash on hand, and share with you how a smaller company can manage treasury without staffing up.
What You Will Learn in This Episode:
- What Corporate Treasury is
- How your business can most effectively leverage cash on hand
- The right way to manage savings and debt reduction for business
- Understanding the Uncommon Debt Ratio
- Why it’s so important to “know your numbers”
- How to use whole life insurance as a resource in business
- How you can use cryptocurrency as part of your corporate treasury strategy
- Why it’s easier and more cost-effective than ever to outsource your CFO role