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In today’s episode of ‘From the eLearning Trenches,’ we ask one of our learners to identify one business client who needs a cashflow forecast. How would you go about getting the client across the line?

“I have one specific client who would massively benefit from a cashflow forecast, as he has a profitable business but is always struggling with cash flow and the timing of loan and debt repayments.  He also has the size of business that could afford this service and greatly benefit from it. The client is aware of this issue but is currently hesitant to jump on board, because things have been changing for him consistently because of staff members leaving and him hiring a new team. I think to get the client across the line it would be worthwhile to prepare a simple version of a forecast to show him the power of planning ahead.  In regards to the fee I would charge, I would use the preparation of the simple version of the forecast to estimate how much time it will take and base the price around the hourly charge-out rate, including the time taken to prepare, review and present the forecast.  As we are working closely with this client already, I would update the scope to include the extra time and update the price accordingly

Feedback from our experts:

It’s common for managers and partners to identify a clear need for a client, then struggle to get the client across the line. Perhaps the client doesn’t see the value, or maybe the suggestion just isn’t a priority at the present time. The response above incorporate a step by step approach to getting the client onboard with a cashflow forecast. It also allows the manager to start slow and build up with a strong level of support and feedback over time. Of course, the critical issue here is the time taken to prepare the initial ‘simple version’ of a forecast. Keep it simple, and if necessary be prepared to put some of this time to new business development.

This assessment task and response is taken from the Virtual CFO Essentials eLearning Course. Click here to find out more