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11. What is Fiscal Management? Part 4 [podcast]

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Categories: Business Strategy, Podcast

On this episode of Building Your Multi Million Dollar Practice you’ll hear from ProfitSee’s CEO and Founder, Peter M. Vessenes. As we continue to dive into defining Fiscal Management, we will be discussing the three key components and how real-time data makes it easier for you to provide your small and mid-sized business clients with services that will help them reach their objectives.



There are three core disciplines involved in Fiscal Management:

  1. Understanding the KPIs that are most valuable to that business
  2. Building Scenarios and business strategies
  3. Using Cash Flow Forecasting to see where the business is going


Monitoring these key metrics using real-time data means that you will be able to help clients before they even are aware of an issue. To understand which Key Performance Indicators are most useful to each of your clients, you can refer to our previous episodes that go over many common KPIs in depth. Each company and each sector will have different metrics that matter most to them.


Being able to build strategies that show what it will take to build the future revenue of the company is incredibly important. While basic increase/decrease proposals are an interesting place to start, it’s critical to build detailed plans with concrete details to be able to execute these scenarios to ensure success.

Cash Flow Forecasting

It’s important to be able to look into the future and use historical data and trends to see how the company is going to cash flow. Liquidity is everything to small businesses, so cash flow forecasting must be a part of fiscal management. This allows you to look ahead, adapt to what’s coming, and be able to proactively fix negative trends.


If you implement these three things in your services offering to your clients, you will become an indispensable part of their team. Small business owners’ objectives are simple, but how you go about achieving these things for them make the world of difference.

These services can take a lot of time to achieve in spreadsheets, but thanks to advances in cloud technology, tools like ProfitSee are able to use real-time data and help you build your services and make a difference to your clients.


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