LETs with Amplify

Ep. 1 | Let's talk about Cash Flow! 💵 | LETs with Amplify

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Cash flow is a critical aspect of any growing business. 

In this episode, we discuss how to manage cash flow effectively to avoid surprises and major issues that can impact your business. We share insights on predicting future flows, understanding inflows and outflows of cash, and managing the timing of finances.

Key Takeaways:

  • Cash flow management is crucial for the growth and success of businesses.
  • Invoicing and revenue collection are essential components of bookkeeping and financial strategy.
  • Clear processes and communication with clients can help ensure successful collections.
  • Implementing a payables schedule can help ensure timely payments while also allowing for predictability in cash flow.
  • Obtaining an operating credit can serve as a buffer during times of uncertainty.

    • Expert Tips:

    • Send invoices within 30 days of completing services to avoid longer collection periods.
    • Have a clear process in place that aligns with your strategic finance plan and communicate expectations with clients during the sales cycle.
    • Implement a payables schedule that limits payments to biweekly or weekly to ensure timely payments while also allowing for predictability in cash flow.
    • Obtain debt when in a positive cash position to secure funding for future growth and avoid unfavourable terms that may come with borrowing during difficult times.

      • By following these tips and strategies, businesses can better manage their finances and set themselves up for long-term success. Don't let cash flow issues hold you back from achieving your goals - take control of your finances today!


      Download the E-Book 📕 on Cash Flow and Cash Management, here, https://amplifyadvisors.ck.page/cf82859dba

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      LETs with AmplifyBy amplifyadvisors.ca