And this time, I wanna talk about money and how to manage your cash flow. In other words, helping you better track the money coming in and the money going out of your business. Which sounds simple (on the surface) but so many of us get tripped up by it along the way. Why? Well, there might be more at play underneath… so let’s talk about that.
My special guest today is CPA Stephen King and he’s simplifying how to better manage your cash flow. He leads a US-based accounting team called Growthforce and in this episode he breaks it all down for us, sharing tips on how to identify, measure, and track your cash flow wisely. Ultimately, this will help you make better decisions when managing your finances by looking at your historical figures for clues that’ll help you better predict your financial future in the year ahead.
Here’s how.
My special guest today is Stephen King and he’s simplifying how to manage your cash flow.
We tackle and simplify all aspects of it, including:
- How he defines healthy cash flow as it relates to running a small business. What it is and what it is NOT
- A few practical ways you can manage the cash flowing into your business… and how to improve it
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- 13 week cash flow forecast
- pay slowly rules
- managing interest rates on your company credit cards
- The biggest mistake people make when it comes to cash flow and how to overcome it
- What the 3 F’s of collections are and how to tackle the 3 biggest objections you might hear from your customers when you directly ask them to pay their bill:
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- Be Firm
- Be Friendly
- Be Focused
…and ultimately, how to have better financial management overall for your business, even without a degree in accounting.
My hope is that today’s conversation sparks something new in you that you can take back to your team this week… Integrate this learning. Examine your bookkeeping best practices. Align with where you want to be in 6 months from now. And see positive change occur.
You can do it, I believe in you!
Q: Are you ready to learn how to better manage your cash flow? If yes, this one is for you.
It’s time to #DoTheThing!
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Show notes available with all links mentioned here: https://thesimplifiers.com/podcast/stephen-king-manage-your-cash-flow
