In this episode, we tackle one of the most stressful situations a business owner can face—a cash flow crunch. I discuss how cashflow issues can drastically affect behavior and business culture, and the importance of recognizing early warning signs. I'll guide you through effective strategies to manage cash flow, such as creating a cash flow forecast and building a cash reserve. You'll learn why it's crucial to avoid quick fixes like loans or deep discounts, and why increasing the speed of cash collection while managing expenses is vital. We also explore how to prioritize spending and the importance of professional financial advice. Tune in to learn practical, actionable steps to prevent and navigate through cashflow slumps, ensuring your business stays financially healthy.

 

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

 

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

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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.