As your food business grows, the decisions get bigger too. You might be adding a retailer, investing in equipment, hiring someone, launching a new product...or all of the above!
And as you know, any mistakes can get more expensive as the stakes get higher.
The good news is that your financials aren't just there to tell you what already happened. They can help you look ahead, pressure-test decisions, and potentially avoid an expensive mistake before you make it.
In this episode, Clint and I are joined by Abby June Richards, founder of The CPG CFO, to dig deeper into financials as one of the eight strategic priorities from our Business Maintenance Check series.
We talk about the difference between looking at your financials in the rearview mirror versus using them to help guide what comes next, including how to think through decisions around debt, equipment, product profitability, margins, and growth. Abby also shares her CASH FIGHT framework and why avoiding preventable financial mistakes becomes increasingly important as your business grows.
One of my favorite parts of the conversation is where it ultimately lands: ALIGNMENT.
Something Clint & I talk about ALL the time related to your brand strategy and business strategy!
Financials are one lens for making a decision. Your goals, market information, values, brand strategy, and the other areas of your business matter too. The goal isn't to optimize one area in isolation. It's to understand how the pieces work together so you can make intentional decisions that support the business and brand you're working to build.
In this episode, you'll hear:
- Why your financials can be a forward-looking decision-making tool
- What Abby looks for when assessing the financial health of a growing food business
- How to pressure-test investments in equipment, capacity, and debt before committing
- Why understanding the full cost of a product can help you catch an expensive mistake before launch
- When bringing in deeper financial expertise may make sense
- Abby's CASH FIGHT framework for understanding where cash is coming from, where it's going, and where problems may be hiding
- Why brand strategy and financial information can work together to help you make more aligned decisions as you grow
Resources
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Have a great week -- see you in your inbox Friday (be sure to join my list!), then back here next Wednesday.
Let's go shake up shopping carts! 🛒
Katie & Clint
