Our host Ashleigh Rae is joined by Craig Bull in another installment of The Money Series, to talk about the awkward, often neglected topic of Cash Flow...
About Craig:
He's awesome.
But for real, here's what you need to know - this guy knows his stuff.
Craig holds a Bachelor of Business (Accounting) and has qualifications in Finance and Economics. He has 9 years of experience in public practice, and currently is the Senior Accountant and Client Manager at Knox Taxation.
Craig explains to us what cash flow is, the importance of cash flow, and how it affects the economy. He helps us out by giving us some important advice about structuring cash flow in our own businesses. He discusses the advantages that accounting programs provide us for payment systems, and names a few for us, like Quickbooks, that can help us with things like reminders. Craig advises us to be upfront about the prices from the beginning, and gives us tips about organizing our invoices, possibly uploading them into programs, and having up to date accounts.
Ashleigh and Craig both agree that it’s important to make sure that what you’re charging is an appropriate amount for you and your services. If you’re doing a great job, then it won’t matter that your prices are higher, and this helps with your cash flow in your business. Craig gives us a few helpful pointers in determining the prices we should set for our services, and what we should be considering.
Ashleigh ends the episode advising us about managing our money, and Craig has some useful insight to add. If you’re interested in learning more about cash flow, tune into this episode! And if you’re interested in more of the Virtually Awesome podcast, and connecting with the podcast, check out the links below!
Extra Awesome Sauce
“Cash flow revolves around money, so it’s when you receive the money, and it’s also your outflows as well. To have good cash flow, you need to have more money coming into your bank accounts and less money going out.” - Craig
“The advantages of going into some of these cloud software that you can get access to these days is that there’s a whole range of ways you can pay.” - Craig
“Your client, they’re gonna be so much happier going in knowing what they’re in for and what they can expect, rather than getting an unwelcome surprise.” - Ashleigh
Connect with Craig:
https://www.knoxtax.com.au/craig-bull/
LinkedIn - Craig Bull
https://www.linkedin.com/in/craig-bull-b585004b
Connect with the Ashleigh:
[email protected]
www.facebook.com/virtuallyashleighawesomeservices
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