Amid an unstable recovery, many CEOs are realizing that their organizations are not yet out of the woods, and so are using financial forecasting and other tools to compile business projections and inform decisions about hiring and expanding into new markets.

According to a recent study from the Business Roundtable, company leaders are not too comfortable with what they are seeing. The third-quarter economic outlook survey of CEOs recorded a drop in projected spending and hiring from the second quarter results, with 19 percent of responding CEOs saying they would be decreasing their capital spending in the next six months. Last quarter, just 12 percent planned to do so.

Additionally, CEOs are scaling back their hiring expectations. In Q2, 20 percent of respondents were going to decrease hiring and 36 percent were going to increase hiring in the following six months. Now, those figures stand at 34 percent and 29 percent, respectively.

"The downshift in quarterly sentiment reflects continuing concern about the strength of the recovery, including uncertainty over the approaching fiscal cliff and accompanying debates about the tax code, sequestration and the debt ceiling," stated Jim McNerney, chairman of Business Roundtable and The Boeing Company's CEO, president and chairman.

While CEOs are trying to hedge against economic risks by engaging in more conservative business budgeting, there are a few things they can do to ensure stability and work toward future growth despite uncertainty. The Minnesota Society of Certified Public Accountants (MSCPA) has some suggestions on how finance chiefs can help the C-suite drive top-line growth.

Keep in touch with customers
The MSCPA says that in gaining a better understanding of customers, their needs and motivations to buy, businesses may be able to attract and retain their clients. Rich Faber, the CFO for Vision-Ease, told the group that taking stock of an organization's strengths, weaknesses, industry and customer base can help inform strategies that lead to greater success. Seek out new avenues for product development and look for ways to make operations leaner and more effective.

Steer clear of the cliff
Even with higher expenses and fewer clients, a company can take steps to ensure survival. The MSCPA gives the example of a healthcare system that was able to overhaul its operational model. Take a look at your own expense sheet to identify redundancies or costs that are not helping to improve the final product. Consider partnerships that can make your organization more efficient regarding both finances and operations. 

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