Cash is essential for keeping the lights on and the doors open. Without a steady flow of cash, it's impossible to cover expenses, make payroll, or invest in the future. That's why it's so important to have a sound financial game plan in place. The first step is to understand your business's cash needs. This means forecasting your income and expenses for the upcoming months and years. Once you have a good handle on your cash flow, you can start to develop strategies for managing it. This might include setting up a line of credit, negotiating payment terms with suppliers, or building up a reserve of cash. Whatever route you decide to take, the most important thing is to have a plan in place. By taking the time to map out your financial game plan, you can ensure that your business has the cash it needs to thrive. In this episode, we will discuss six stages of financial freedom so you can start mapping out a path to where you want to be in the future.
