How many times have you heard the saying "cash is king?"
But what if someone told you that that's just a myth ready to be debunked?
In this episode, Kenny Chapman and Chris Crew tackle the myths surrounding cash flow and discuss cash confidence, creating a 90-day cash buffer, having an abundance mindset, and explain why "cash is NOT king."
Tune in to learn how to keep your business thriving no matter the economic climate.
- In today's episode co-hosts Kenny Chapman and Chris Crew talk about cash flow and why cash ISN'T king.
- Kenny touches upon the shift that's currently taking place in the blue collar trade.
- Chris shares what "cash is king" meant to him in the 1990s – and explains why POSITIVE cash flow is king.
- Kenny brings up the concept of cash confidence, the confidence in your ability to generate the cash that you need.
- Chris doesn't believe that knowledge is power…it needs to be turned into action.
- Remember: truth is knowledge but wisdom is the application of knowledge.
- If you're saying "my business is debt-free!", there's something you're forgetting.
- Kenny opens up about what a friend from the financial planning space told him about being afraid to "party with his cash."
- Not being able to manage cash is something Chris sees as a cause of many blue collar businesses going belly up.
- Following Chris' 90-day cash "buffer" is an advice that saved one of the Blue Collar Success Group's clients from having his business being forced to close its doors.
- Are you looking for a way to take cash and let it still be working for you without it being tied up? Look at money markets!
- Chris invites you to avoid having such a scarcity mindset that you end up sitting on cash all the time.
- Unlocking an abundance mindset will become a game-changing move for every home service business owner.
- Kenny takes back the curtain on what the "best operator" he had ever met told him.
Mentioned in This Episode:
HomeServiceBusinessSuccessShow.com/8
The Blue Collar Success Group
Frank Blau
HSBS episode 7 - HomeServiceBusinessSuccessShow.com/7
Square
Venmo
Atlanta Falcons
New England Patriots
Happy Money: The Japanese Art of Making Peace With Your Money by Ken Honda
Dave Ramsey
Blue Collar Success Laws: Your No-Nonsense Guide to Problem-Solving, Productivity, & Profit by Kenny Chapman
Home Depot
Robert Kiyosaki
