Have you ever hit a point where your design business cash flow just isn't flowing? The truth is that money doesn't always stay steady—it moves in and out, up and down. In today's episode, we're digging into how interior designers can get the money moving again with quick cash flow wins, plus a long-term cash management strategy for financial stability and growth.
Profitability
Financials
Pricing
Strategy
We just make much better decisions when we've had good rest, good sleep practice, good eating and health, and then those things start to go away because of the worry and the stress that comes from not having enough money. As we all know, one of the number one reasons is that small businesses fail is lack of cash and lack of cash flow management. Michele Williams
Start asking is there anything that we need to do on our side as the business to satisfy a need that would allow that money to be paid. Michele Williams
If you're not billing directly dollar to dollar, penny to penny, it can be very easy to get underwater on that so that you're absorbing more cost because you don't want to pass them along to the client, and after a while you're eating into your profitability. Michele Williams
Cash flow is usually enhanced by ensuring that we've got the right pricing, that we're monitoring the cost of the product and the cost of running the business, and then that leads us to profitability. Michele Williams
Facebook: Scarlet Thread Consulting
Instagram: @ScarletThreadATL
Website: ScarletThreadConsulting.com
LinkedIn: Michele Williams
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