Building a Treasury Policy for Growing Companies
Many growing firms treat the operating account as both wallet and investment strategy. Cash piles up after a strong quarter, then disappears into hiring, inventory or a sudden tax payment. Leadership feels rich and poor in the same year. That swing is not a character flaw. It is the absence of a treasury policy.
A useful policy is short. It names the operating buffer in weeks of expenses, the instruments allowed for surplus, who can move money, and when the board or partners will hear about exceptions. It also names what surplus is not for: plugging a weak pricing model, delaying a hard staffing decision, or speculating in assets the company does not understand.
Personal wealth sits next door
Owner-managers often mix personal and company liquidity until a lender, a buyer or a life event forces a separation. Raymond Sachs helps you draw that line without starving the business. Surplus that truly does not belong in operations can be given an investment mandate with a different time horizon than payroll. That is consulting in the original sense: a recommendation you can implement on Monday.
