• Accounting Systems
  • Cash Flow Processes
  • Advisor Coordination
  • Budgeting & Forecasting
  • Production & Operations
  • Banking & Capital
  • Strategic Financial Planning
  • Risk Assessments
  • Revenue
  • Operating Rhythm
  • Succession or Exit Planning
  • Readiness & Attractiveness
  • Price/Multiple
Summit Insights
Mar, 20

The List for Small Business


The List for Small Business

By FocusCFO

Our CFOs have been on the business front lines for weeks, helping small businesses navigate the challenges they face due to the Covid-19 pandemic. While each business is different, and certainly each industry has its own unique concerns, here’s a list of the most pressing tasks that entrepreneurs are facing.


the health of your employees and customers

  • Using guidance from the CDC and local authorities, determine business operation and closure policies
  • If operations are essential, execute safe distancing and cleaning programs
  • Prepare a plan for what to do if one of your employees test positive for COVID-19
  • Assess the preparedness of your IT infrastructure and HR department to handle the matters that may present themselves with off-site/remote work 

Assigning subject matter experts

in your company to gather, track, and help employees and the company to be knowledgeable about a specific topic

  • Up-to-date health and wellness information
  • Information about the legislated assistance available to businesses from state and federal governments
  • Information about all the aid available to employees
  • Working from home guidance and policies 
  • Look to trusted advisors for assistance in interpreting new laws


regularly with employees and customers

  • Send regular updates via email
  • Schedule “town hall” meetings using video or safe distancing

Assessing the financial picture



  • Prepare a rolling 13-week cash flow projection
  • Prepare updated cash flow-based forecasts by month for the balance of the year
  • Prepare a Stress Test P&L
  • Prepare a plan if urgent cost reduction is needed to conserve cash
  • Prepare cash flow breakeven analysis

Business Issues to Address:

  • Meet with your banker(s) to review these projections and put contingency financing plans in place
  • Prepare necessary paperwork to access government loans, grants and programs 
  • Review inventory levels and liquidate inventory where needed
  • Review supply chain and identify where weaknesses may exist
  • Prepare cash flow breakeven analysis
  • Meet with current customers to see what they need and get a feel for short term orders
  • Identify opportunities to pick-up new customers due to supply chains being impacted

While this is not an exhaustive list, and there are many good checklists available (visit our website at for some of our favorites), we hope this short list will provide guidance and direction on what small business priorities should be.


If you are a small business and need assistance,
please contact us. We just want to help.