Don't Let it Rot - Critical to Financial Management

Financial management will never "Bai lan (摆烂)" or "let it rot". Bai lan has been a meme amongst the Chinese youths as they are unwilling to make any effort to resolve current issues for they believe they will not succeed however they try hard.

Facing rapid macroeconomic headwind, intense competition and rising costs, many business owners, especially the elder ones, may just stick to their old ways of doing business and conducting its financial management decisions praying that their plights will pass quickly.

When the company has great depth of brand value and loyal customers, it may survive a little bit longer even if it has not done anything to constantly improving its business and making correct financial management decisions with the new formula of success, namely digitalization, work re-design, automation, artificial intelligence...

In case a business owner is too tired to continue improving his business processes and proposing new and effective ways to meet customers' demands, he should sell his business so that he would optimize the value of his business and then enjoy "life".

He should at least hire a third-party consultant for advice if he doesn't know how to bring his business to another level. The management consultant will review his current business model, strengths and weaknesses, external threats and opportunities, conduct a gap analysis and recommend a road map how the business may improve its performance. 

For a financial management consultant, he would draw out the critical profit drivers and risk pointers, compare the relevant financial ratios with the company's close rivals, recommend ways to improve its financial presentation in an accurate and timely manners, make reasonable cash flow projections based on different scenarios and business plans, propose possible merger and acquisition opportunities and long-term business plans... You may pay your management consultant at a fraction of the cost by applying funding support from Enterprise Singapore EDG grant!

Don't let it rot!