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Description

In this episode on financial remodelling for downturn economy (startups & small businesses), you'll learn about the remodelling with these fundamentals:

• cash reserves
• Contingency
• Scenario planning
• Connecting with your customers better
• Back to basic and core offering
• Back to the fundamentals
• Keeping your brand building, organic
• Marketing if you could come up with more cash

You'll also hear about these critical financial terms which could help you pull out the high level numbers you need to do the remodelling:

• Burn rate - how fast do you burn through the cash
• Runway - how many month can you survive
• Revenue = Sales
• Cost of Goods sold
• Gross profit & margin
• Contribution margin
• Variable Costs
• Fixed Costs
• Opex (Operating expenses)
• Cash flow
• Net income

Before or after listening to today's episode, you may also want to check out Ep. 22 - Financial Remodelling for Shifting Economy (for individuals). Together, you'll feel a lot more comfortable with the remodelling because they are all about building your cash, alone with some business insights.

About 10X Vision:
Host: Mina Fung, Founder of Pull Impact, Co-founder of wifaglobal
 

Music credit: Adventures by A Himitsu, Crimson Fly by Huma-Huma

For tips and lessons learned throughout the podcast, head over to https://www.pullimpact.com/podcast and subscribe to my monthly summary list exclusively delivered to your email box once a month.

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