What’s the hardest part of managing a small business? For many, like Marie Mae Founder and CEO Jillian Ryan, it’s cashflow. There are many moving parts with cashflow that can keep small business owners up at night, and it’s even more difficult when you rely on it to go the extra mile in helping others. Jillian draws from her experience to offer tips and tidbits of wisdom when it comes to getting paid and having money in the bank (even in tough times like a pandemic). She also shares how bigger companies can support smaller companies they’re partnering with.

This is the second episode in The Messy Middle series, where Jillian breaks down the good, bad, and ugly while growing a business. Through it all you’ll learn how to do good by your customers, your team, and yourself.

Topics covered in this episode:
- Managing cashflow
- How big businesses can support small businesses
- Helping small businesses in the pandemic
- Why you need a CFO
- Paying vendors / payroll
- Growing pains for businesses

Takeaways from this episode:
- Get payment upfront when you’re taking on a new customer – and weigh the pros and cons of taking on that customer at all.
- Especially during the pandemic, consider how your operations impact the smaller businesses you work with.
- Know your numbers and constantly evaluate your margins.
- If you’re part of a large company that’s working with a small business, consider how your payment schedule affects them. Small companies often don’t have the money in the bank that you do.
- Be sure to pay your vendors / partners within a reasonable time window.
- Make sure you have a cushion of cash in the bank and guardrails in your contracts.

To book a free strategy session with Jillian:
https://mariemae.com/consulting

To learn more about Marie Mae :
https://mariemae.com/

To learn more about The Good Office Podcast:
www.thegoodofficepodcast.com

Show notes and more resources:
https://thegoodofficepodcast.com/episodes/47