7 Steps to Turn Key Cash Flow Systems

Discover where you are and start the journey to where you want to be! With our gap map assessment, it’s easy to identify the areas where you thrive as a business owner and leader with your numbers and where you could use some extra assistance. Our goal is to empower you to understand and achieve your full potential. With reflection in these 5 key skill areas, you can learn where the “gaps” may be and take steps towards improvement. As you work through this assessment, reflect on the accuracy of each statement as it pertains to you and your business and numbers— using your answers, we’ll recommend strategies to increase sales, profits, cashflow, minimize taxes, and maximize owners take-home and long-term wealth!

Increase Sales, Profits & Cashflow. Minimize Taxes. Maximize Owners Take-Home & Long-Term Wealth!

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Step 1 of 9 - General Information

{Your Name (First):104.3} {Your Name (Last):104.6}

{Company Name:6}

General Information

Please fill out your contact information and complete each section of the 7 Key Areas. Once submitted, your results will be displayed. You will also receive an email with your full list of responses.

Your Name*

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First Name

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Last Name

Company Name

Email*

Phone

Areas of Interest*

Audit Trail

Bookkeeping & Accounting

Business Consulting

Tax Preparation

Tax Planning

Business Planning

Financial Skills, Guidance & Decision Making

As the lifeblood of any organization, financial skills don’t come naturally to most people. By building a strong foundation and choosing great financial partners for your business, you can overcome the pitfalls of cash management, lending, taxes, and more.

Rate yourself or your business on a scale from 0 to 100 on the following Financial & KPI statements. For Yes or No questions, 0 = No, 50 = Unsure/Maybe, and 100 = Yes.

Overall rating of myself in this area: Financial Skills, Guidance, and Decision Making.

Please enter a number from 0 to 100.

I can read a financial statement (Income Statement, Balance Sheet, Cash Flow Statement).

Please enter a number from 0 to 100.

I know my Cost of Goods Sold, Gross Profit, Operating Expenses and Profit Margin Goals.

Please enter a number from 0 to 100.

I know my benchmarks for my Accounts Receivable, Accounts Payable, and Inventory.

Please enter a number from 0 to 100.

I know the difference between profits and cash.

Please enter a number from 0 to 100.

I know my key sales and cashflow KPI’s.

Please enter a number from 0 to 100.

I have reporting systems in place for all KPIs, financial and managerial accounting reports needed weekly, monthly, quarterly, and annually for streamlined and efficient reporting.

Please enter a number from 0 to 100.

I know my key financial statement KPI’s and have dashboards.

Please enter a number from 0 to 100.

We operate according to a budget.

Please enter a number from 0 to 100.

We have an organizational chart and roles that match our business and financial model.

Please enter a number from 0 to 100.

We have a 1–3-year strategic plan in writing that our team can read and clearly understand.

Please enter a number from 0 to 100.

We have key benchmarks developed for the company’s business and financial model.

Please enter a number from 0 to 100.

We have key benchmarks established for each person’s role and department.

Please enter a number from 0 to 100.

I have an owner's take-home goal.

Please enter a number from 0 to 100.

I have a long-term wealth goal for saving and investing – saving at least 10% of what I earn.

Please enter a number from 0 to 100.

We understand the reports and how to utilize them to maximize potential, turning data into coaching and feedback.

Please enter a number from 0 to 100.

Each team member knows their role, their KPIs, and how they support the company's larger goals.

Please enter a number from 0 to 100.

We have systems in place for quality control, fulfillment, and performance standards.

Please enter a number from 0 to 100.

Each team member knows how their contribution impacts the company’s profitability.

Please enter a number from 0 to 100.

Financial Skills & Intelligence Score

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Financial Skills and Intelligence Total

Please share any additional insights important in understanding what specifically is great, a key challenge, or goals for this area that stands out and would be important to know.

Recommendations:

Business Planning & Goal Setting

Setting effective and achievable business goals is at the heart of all successful businesses. From financial goals like sales, profits, and cash flow to strategic goals that you set monthly, quarterly, and yearly, EWH University will help you gain clarity and vision for your organization.

Rate yourself or your business on a scale from 0 to 100 on the following Goal Setting statements:

Overall rating of myself in this area: Business Planning & Goal Setting.

Please enter a number from 0 to 100.

I understand and create S.M.A.R.T goals.

Please enter a number from 0 to 100.

I set and prioritize my goals, so I understand what needs to be addressed first.

Please enter a number from 0 to 100.

I keep my email inbox under 100 and my voicemails are returned within 48 hours.

Please enter a number from 0 to 100.

My workspace is organized, neat, clean, and free of clutter.

Please enter a number from 0 to 100.

I utilize goal setting to create progress and not just change. Change is automatic, progress is not.

Please enter a number from 0 to 100.

I leverage technology, time management, or goal-setting tools.

Please enter a number from 0 to 100.

I plan my day, weeks, months, and years in advance (in writing).

Please enter a number from 0 to 100.

Goal Setting Score

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Goal Setting Total

Please share any additional insights important in understanding what specifically is great, a key challenge, or goals for this area that stands out and would be important to know.

Recommendations:

Make sure each of your goals is SMART!
Create your Strategic Plan and set Quarterly, Annual, and 3 years goals
Use a daily or weekly planner or app
Dedicate at least 3-4 hours a week to work on the business and one strategic objective
Have at least one day a quarter off site to review your strategic plan and recharge
Prioritize your goals in terms of importance and the commitment on your calendar, budget, staffing, and resources needed for them
Get your inbox under 100 🙂 Or try LOL!
Identify 1 piece of technology you can leverage and use to reduce time and increase efficiency
Clean your workspace and remove clutter

Tax Preparation & Planning

While tax codes are complex, if taxpayers have these key strategies covered, they have what applies to 80%+ of taxpayers, allowing them to reduce their tax liability and maximize their take-home amount. Discuss the following strategies with your accountant to ensure you have them covered. What you don’t know may cost you money!

Rate yourself or your business on a scale from 0 to 100 on the following Tax Preparation & Planning statements. For Yes or No questions, 0 = No and 100 = Yes.

Overall rating of myself in this area: Tax Preparation and Planning.

Please enter a number from 0 to 100.

If you are a Single Member, or Partnership, you are also an LLC.

Please enter a number from 0 to 100.

I have evaluated the S Corporation option if a different entity type for tax savings.

Please enter a number from 0 to 100.

I have a way of capturing all my business expenses for deductions, including any out-of-pocket expenses, cash, or credit/debit card transactions.

Please enter a number from 0 to 100.

I review if Section 179 is helpful at the end of each year.

Please enter a number from 0 to 100.

I have evaluated S Corp Options.

Please enter a number from 0 to 100.

I use a Year End Tax Organizer.

Please enter a number from 0 to 100.

I have a tax savings retirement account.

Please enter a number from 0 to 100.

My taxes are filed on time every year.

Please enter a number from 0 to 100.

I send Tax Estimates in on time and are paid in full before January 15th.

Please enter a number from 0 to 100.

I have a tax savings HSA account if I have eligible health insurance.

Please enter a number from 0 to 100.

I have evaluated options for involving my children in the business when they were young.

Please enter a number from 0 to 100.

I have Year End Business Numbers ready by the end of the year – Jan 31st.

Please enter a number from 0 to 100.

I do tax planning before year-end.

Please enter a number from 0 to 100.

Tax Preparation & Planning Score

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Tax Preparation and Planning Total

Please share any additional insights important in understanding what specifically is great, a key challenge, or goals for this area that stands out and would be important to know.

Recommendations:

Learn about the key tax strategies for the majority of taxpayers
Use a Year-End Tax organizer
Learn if you should be making quarterly estimated tax payments
Learn key insights into cash flow your quarterly estimated tax payments
Plan to have year-end tax planning meeting between October and December with accountant
Evaluate entity selection on how to pay yourself and take income out of the business
Know when you pay taxes: When is income distributed or earned?
Start paying yourself consistently once a month, or determine a start date!
Review S Corp Entity option if appropriate
Evaluate Section 179 yearly if you have equipment purchases
Capture all out of pocket and credit card expenses to reduce taxable income
Evaluate retirement plans and an HSA for tax savings
If you own your building, inquire if a cost segregation study would be worthwhile
Learn more with our Tax Essentials online course about the strategies listed above

Key Business Skills & Areas

Most go into business because they have great skills or talents. Once they get the entrepreneurial spirit, and go into business a new business owner quickly realizes there's more than knowing the product, service, or delivering what you do or produce. There is cash flow, accounting, people, employees, managing, leading, selling, marketing, HR, the IRS, and financing. We could list even more! Managing, leading, and owning your small business is a skill set, and not something that any of us came with naturally. While it is complex it is not infinitely complex. This brief list below highlights the 8 Key business skills and tools we have identified to be a successful business owner and leader. This brief list below highlights the 8 key business skills and tools we have identified to be a successful business owner and leader. Then if you want to dive deeper, complete our 8 Skills to being a Successful Business Owner and Leader Self Assessment if desired.

Rate yourself or your business on a scale from 0 to 100 on the following Key Business Skills & Areas statements. For Yes or No questions, 0 = No and 100 = Yes.

Leadership AND Management Skills

Please enter a number from 0 to 100.

Communication Skills

Please enter a number from 0 to 100.

Team Skills

Please enter a number from 0 to 100.

People Skills

Please enter a number from 0 to 100.

Sales and Marketing

Please enter a number from 0 to 100.

Life Skills

Please enter a number from 0 to 100.

Business Skills

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Business Skills Total

Please share any additional insights important in understanding what specifically is great, a key challenge, or goals for this area that stands out and would be important to know.

Recommendations:

Listen to our WISN Radio Show weekly
Listen to an audio book a week
Read a book a month
Listen to a podcast, YouTube videos, and audio books when driving, getting ready, or walking to utilize your time when your body is engaged and your mind is still free.
Get physical activity or time each week to recharge
Claim your free online course or enroll in another one.
Attend our Cash Flow/Inflation Bootcamp.
Complete our 8 Skills to Successful Business Ownership and Leadership Assessment.
Schedule a strategy session.

Vision & Goal Setting Questions

A few more questions before we wrap up, please provide as much information as possible as it will make our follow-up conversations more meaningful and impactful to you and your business.

Answer each question to the best of your knowledge.

How many years have you been in business?

Sales: Last Year/This Year/Next Year? (If handy)

Number of employees?

Please choose your business entity status:

What is great about your business? What have been your successes, wins, or what have you been proud of?*

What are the key challenges you are facing in your business? What has always been a challenge in your business?*

Where do you want your business to be in one year? If you were looking back one year from now how would you define success?*

Where do you want your business to be in three years? If you were looking back one year from now how would you define success?

What is your Sales Goal in three years?

Do you need additional employees to sustain those sales and if so how many, and in what roles/titles? Additionally, will you need any equipment purchases or need any additional expenses or overhead?

If you are willing to share any of the following information, it will allow us to gain even more insight as to where your business stands and how we can best serve you. If you share the following, you will gain even more value from our future conversations:
1-3 Years of Financial Statements
1-3 Year Budget (if you have one)
List of Written Goals
1-3 Years Tax Returns – Complementary Review

Please upload your files here.

Business owners who can understand their numbers and create a budget with a clear vision and game plan create and maintain a profitable and successful business.

Drop files here or

Max. file size: 50 MB.

Looking for an accounting proposal?

If you are also looking for an accounting proposal, please provide a normal month's bank statement and/or answer the following questions.

Number of Checking and Savings Accounts

Number of Loan(s)

Number of Credit Cards

Sales Tax and if so, how often

Estimated outgoing transactions from our main operating checking account each month. Not incoming deposits, only outgoing payments/transactions

Do you use QuickBooks, Peach Tree or some other software for your accounting and bookkeeping? Please list any other software or accounting tools you may use on a monthly or quarterly basis.

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Overall Total

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Phone

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Cash Flow & KPI Self Assessment

7 Steps to Turn Key Cash Flow Systems

Increase Sales, Profits & Cashflow. Minimize Taxes. Maximize Owners Take-Home & Long-Term Wealth!

{Your Name (First):104.3} {Your Name (Last):104.6}

{Company Name:6}

General Information

Financial Skills, Guidance & Decision Making

Rate yourself or your business on a scale from 0 to 100 on the following Financial & KPI statements. For Yes or No questions, 0 = No, 50 = Unsure/Maybe, and 100 = Yes.

Recommendations:

Business Planning & Goal Setting

Rate yourself or your business on a scale from 0 to 100 on the following Goal Setting statements:

Recommendations:

Tax Preparation & Planning

Rate yourself or your business on a scale from 0 to 100 on the following Tax Preparation & Planning statements. For Yes or No questions, 0 = No and 100 = Yes.

Recommendations:

Bookkeeping & Accounting

Rate yourself or your business on a scale from 0 to 100 on the following Bookkeeping & Accounting statements. For Yes or No questions, 0 = No and 100 = Yes.

Recommendations:

Audit Trail

Rate yourself or your business on a scale from 0 to 100 on the following Audit Trail statements. For Yes or No questions, 0 = No and 100 = Yes.

Recommendations:

Payroll

Rate yourself or your business on a scale from 0 to 100 on the following Payroll statements. For Yes or No questions, 0 = No and 100 = Yes.

Recommendations:

Key Business Skills & Areas

Rate yourself or your business on a scale from 0 to 100 on the following Key Business Skills & Areas statements. For Yes or No questions, 0 = No and 100 = Yes.

Recommendations:

Vision & Goal Setting Questions

Answer each question to the best of your knowledge.

Looking for an accounting proposal?

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