In this episode, we dive into some of the most common mistakes that business owners make when managing cash flow and what you can do to avoid them. First of all, cash flow is simply the measurement of money coming into and out of your business in a particular period of time. Cash flow is the lifeblood of any profitable business, and when businesses close shop for financial reasons, poor cash flow is to blame almost all the time.
What You’ll Learn:
- The mistakes business owners make with cash flow
- How to avoid a surprise tax bill
- Why every CEO must be excellent with numbers
- Cash flow management and why it’s important
- Why you need to start paying for things after the fact instead of before
- The benefits of having a monthly recurring revenue model
- Why businesses need to have several bank accounts
When you think about it, financial management begins and ends with cash. Cash at hand is all good, but staying on top of your cash flow is key to business success. Cash flow management is primarily about figuring out when you’re going to have cash at hand, how to get more of it faster and how to keep track of all business spending. Learning to manage cash flow is a foundational building block for managing your business finances.
Resources:
- Free Training: Sign 1-3+ clients a week on evergreen: https://www.roseradford.com/stepup-podcast
- Download the FREE Business Bottleneck Diagnostic Tool https://www.roseradford.com/diagnostic
- Visit my website https://www.roseradford.com/
- Find me on Facebook https://www.facebook.com/rosekirbycoach1
- Find me on Instagram https://www.instagram.com/iamroseradford
- Let’s connect on LinkedIn https://www.linkedin.com/in/rose-radford/
