At Tranquil Cloud our mission is to offer a space of healing, transformation and self-improvement. Qigong is a non-invasive way to approach physical, emotional and spiritual health addressing the root cause of issues and creating a balanced wellness within one’s self. While our business has been successful over the last 9 years, we realized that we wanted to do more, and we needed to get out of our own way and get some help to set a path of growth. We engaged A Fractional CFO to help us with managing our cashflow, controlling our expenses, and creating a forecast for us to use as a strategic business plan to grow our practice.
Tony made an immediate impact by implementing a 13-week cashflow forecast. This tool alone has given us invaluable insight into the operations of our business and has allowed us to better meet payroll and vendor obligations. We no longer have “surprises” when it’s time to make payroll or pay our bills. This tool along with the revised Accounts Payable procedures has improved our cash flow predictability.
The next step was to take a hard look at our expenses. We reviewed what we were spending our money on, Tony forced us to look at each line item on our income statement, and help us decide what expenses were needs, and what were wants. He reviewed our marketing spend, again asking us to justify why we were spending money on each marketing effort. We had to prove to Tony, and to ourselves, that the spending was “smart spending” and a need. We made some tough decisions and were able to re-direct our spending into areas to grow our business.
We then worked on creating a plan for the business, we forecasted our revenues, and our expenses. We now had a model to move forward with that promotes our goal of growth, both at the revenue line, and most importantly at the bottom line. We can now compare our performance to what we wanted to happen and then make course corrections as required.
We now have a CFO for our business. On a weekly basis we review the updated 13-week cashflow, and on a rotating cycle we discuss performance to plan, review revenues, discuss expenses, and have very direct conversations around how we stay on track. Without Tony and A Fractional CFO, I know that we would not be performing at this new level of profitability.
Anthony D’Angelo, DMQ
We encourage you to visit Tranquil Cloud’s website to learn more about them. www.tranquilcloudtemple.com