Cash flow is the exchange of promises—both in and out—so it's important to maintain good relationships with vendors and customers while ensuring financial stability. Today, I touch on some of my personal experiences, explain the pitfalls of being overly accommodating, and offer practical advice on setting policies, collecting payments, and managing cash flow effectively to ensure business growth and sustainability.

 

What you'll hear in this episode:

[0:50] The Importance of Cash Flow

[3:20] The Problem with Lax Collection of Money and Pricing

[4:45] The Importance of Commanding Respect from Your Customers

[6:20] The Importance of Demanding Payment or a Deposit

[7:20] The Importance of Following Your Collections Policy

 

If you like this episode, check out:

Are You Sabotaging Your Own Cash Flow?

Maximize Profit and Cash Flow (Financial Priority Formula Part 2)

Smart Cash Management for Business Owner

 

Want to learn more so you can earn more? 

Visit keepwhatyouearn.com to dive deeper on our episodes 

Visit keepwhatyouearncfo.com to work with Shannon and her team 

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ 

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

 

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.