✏️ Short Description
Profit and cash flow are not the same thing.
Learn why your business can be profitable on paper but still have no money in the bank, and what you can do to fix it.
🔑 Key Takeaways
- Profit and cash flow measure two different things.
- A profitable business can still run out of cash.
- Debt payments reduce available cash, even after expenses are recorded.
- Personal spending from the business account destroys cash flow.
- Seasonal businesses must plan for slow months.
- Large annual expenses should be planned for throughout the year.
- Cash flow problems usually begin months before they become obvious.
- A financial plan is just as important as making a profit.
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DIVE IN DEEPER & LEARN MORE ABOUT YOUR NUMBERS
👉 Check Out the AFFORDABLE - Know Your Business Numbers Course http://KnowYourBusinessNumbersCourse.com
NEED A BOOKKEEPER?
👉 Check out BABO Bookkeeping. https://babobookkeeping.com Yep! We can help you do your bookkeeping so you can focus on growing your business!
CONTACT ME:
👉 Bookkeeping for Your Business: tammy@babobookkeeping.com
WATCH VIDEOS:
👉 Watch on the Youtube Channel - Plus EXTRA TRAININGS on there: https://www.youtube.com/@BadassBusinessOwners
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TOOLS TO HELP YOU RUN A BETTER BUSINESS
Recommended Bookkeeping:
👉 The #1 Tool You Need: Quickbooks Online - https://babolearning.com/quickbooks You must have a good, easy to use bookkeeping system. The #1 option for those needing invoicing & online payments
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Books I Recommend to Help You Take Your Business to the Next Level
👉 Profit First by Mike Michalowicz – https://amzn.to/3nBsCRC
👉 eMyth Revisited by Michael Gurber - https://amzn.to/3bMDTeR
👉 How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off – Donald Miller - https://amzn.to/4bvCDX8
👉 Atomic Habits by James Clear - https://amzn.to/3kpXs1m
👉 Building a Storybrand by Donald Miller - https://amzn.to/3y5t0fS
👉 The ONE Thing by Gary Keller & Jay Papasan - https://amzn.to/3yciFi7
👉 The 12 Week Year - Brian Moran & Michael Lennington - https://amzn.to/3R54Smi
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👉 DISCLAIMER on Affiliate Links: I occasionally will have some affiliate links & I do earn a small commission but at no cost to you. I only recommend companies or items that I believe will save you time, money or help make your business better
👉 DISCLAIMER: I am not an attorney, CPA, insurance agent or financial advisor. My videos/podcast are for entertainment & educational purposes only and should not be construed as tax, legal, insurance or financial advice. Please seek out a qualified CPA, attorney, or specialist as needed. I'm sharing my experiences with my businesses and those I have worked for and/or helped coach.
