Business is a path that many have taken, and subsequently built a lasting brand because of implementing strategic measures that show they have taken time to understand their markets, customers and competitors. It can be a time-crunching undertaking, but one that yields financial stability and brand continuity. That’s what defines my work as one of the engineers who step in to tighten bolts for businesses in their early stages.
When I was working in the retail industry, many businesses lacked live visibility on their business expenses — from the little amounts sent out for everyday basics to even some of the greater expenses. Only after purchases had been made and receipts presented that business owners would get a sense of what was spent and on what. But more often than not, these payouts were either too high, not budgeted for, or were not urgent and therefore should have been delayed.
All these can be streamlined within the first year of business when a solid foundation is still being laid. Typically, if you’re to imagine how the design of a business foundation goes, it involves strategic planning which includes cash flow goals — where business owners set aims on how much they want the company to make per month, quarter or annually. A solid blueprint may be laid down, but consistency in visibility is paramount throughout the implementation of the business objectives to completion.
Visibility has and continues to be a bottleneck preventing business growth, and it extends to the point that it affects networking capital due to constraints.
Sometimes unexpected business purchases come up; other times delays in payments which affect already set business targets. Without carefully analysing how a business is spending during these times, there is likely to be a mismatch in cash coming in and going out, eventually speeding up a business’s decline.
Knowing this, it has been extremely important for us at Sava to understand our business spends, through research and prediction. Analysing the different markets we are venturing into has already proved to be useful in determining how much to spend and on what; It’s meant that our teams have had to analyse the investments we’re making as we perfect our product. The long, countless hours have been dreary in few instances but being guided by the goal of bringing a sustainable solution for businesses has been the anchor to keep going. In essence, we’ve had to do the labour of building a sturdy business that will in turn make other businesses just as strong by creating visibility on business expenses, and incorporating features that make financial processes easier. This way more businesses can trek towards growth with one less baggage to worry about since business owners will have a firm grip on what their liquidity looks like.
Sava incorporates the latest tech with financial tools built to help businesses create lasting brands.
If you’d like to experience the transformation our product will have on your business, book a free demo today here.