Entrepreneur Aligned's Tiffany Charles and Jarrod Musick discuss cash flow tracking and foundation setting for the year ahead.

What's Discussed in This Episode: January is the time to assess your resources and needs for the year to come. Figure out where you are before you start to move and analyze some common myths regarding cash.

1. Successful Sip [1:08]
   1. Knowing your high and low watermarks
   2. Cash flow mapping
   3. Running scenarios to make sure you're recoverable
   4. Analyzing your big inflow and outflow events
2. Setting your baseline for the year ahead and brief explanation of behind the scenes at Entrepreneur Aligned regarding cash, cash flows and projections [3:30]
3. Walk through of processes and inform listeners about Entrepreneur Aligned Roadmap [5:52]
4. Discussion of January's analysis of cash/liquidity and personal finance needs for the year ahead and a discussion of initial baseline settings [6:22]
5. Growing and upleveling 2020 ROIs for 2021 and the different benchmarks for personal versus business. "What do I need and what do I feel comfortable with to sustain my business?" [8:31]
6. "How do we become wealth managers of our business and who helps us with this management?" [9:42]
7. Discussion of revenue disruption and organizing business reserves, cash and/or cash equivalents [10:54]
8. Loan covenant provisions reminder [12:20]
9. Knowing when your big inflow and outflow events are occurring and the use of spreadsheets [13:04]
10. A look at probabilities and scenarios based on available cash flow, what ifs, planning conversations, best uses of capital and planning to avoid impulse decisions [14:29]
11. Behavioral finance discussion - benefits of planning to combat emotions [16:56]
12. Myth in thinking about things related to cash and weighing and balancing holding cash, inflation and the emotional damage of not having enough cash [18:47]
13. Holding cash versus having it available and knowing your capital stacks and your access to them [22:04]
14. Second myth, "Anything that isn't cash doesn't count as cash." Discussion of liquid investments and evaluation of risks [24:57]
15. Conclusion and contact information [27:58]

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