Forecasting for Growth: Craig Talks with Colin Hewitt on Mastering Cash Flow and Building Strong Businesses

In this episode of The Know Your Numbers Podcast, host Craig Alexander Rattray sits down with Colin Hewitt, founder of Float, to dive into the essential topic of cash flow forecasting and its transformative impact on business decision-making. Colin shares his journey from running a digital agency to creating Float, a cash forecasting app designed to help small businesses thrive by providing clarity, confidence, and control over their finances.

With a deep understanding of the challenges faced by business owners, Colin reveals how cash flow forecasting isn't just about numbers - it's about creating a strategy to achieve financial stability, invest with confidence, and ultimately, sleep better at night. This episode is packed with practical advice for anyone looking to take the guesswork out of managing their business finances.

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Key Topics Discussed:

• Colin’s journey from digital agency founder to fintech innovator.
• The critical importance of cash flow forecasting for business growth.
• Practical strategies for using forecasting to reduce financial stress and improve decision-making.
• The role of fractional CFOs and finance teams in driving business clarity.
• How Float empowers small businesses to stay ahead of financial challenges with real-time insights.

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Key Takeaways:

• “Cash flow isn’t just numbers on a spreadsheet; it’s your business’s lifeline.”
• “Running a business without forecasting is like driving blindfolded - you’re bound to crash.”
• “A solid cash flow forecast lets you plan for success, not just react to challenges.”

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Memorable Quotes:

• “If you don’t know your numbers, you’re just guessing - and guessing doesn’t pay the bills.” - Craig Alexander Rattray
• “You can spend with confidence when you know the numbers back it up.” - Colin Hewitt
• “Forecasting is like a sat nav for your business - it shows you where you are and where you’re going.” - Colin Hewitt

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Timestamps:

00:49 Colin Hewitt's Journey with Float
02:20 Developing Float: Challenges and Successes
05:30 The Importance of Forecasting
14:46 How Float Works
22:51 The Role of Fractional CFOs
37:07 Closing Thoughts and Future Plans

 

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Resources Mentioned:

• Float: Learn more about Colin’s cash flow forecasting app.
• The E-Myth: A recommended book on building scalable businesses.
• Know Your Numbers Website: Learn how Craig helps business owners grow their companies.