Boost Your Bottom Line By Mastering Cash Flow Management

Ever wondered about the silent killers of profit and cash flow? In a recent chat with Mike Milan (Cash Flow Mike), we explored mismatched financing and high-interest payments that can quietly wreak havoc on your bottom line. Remember, 35% of businesses filing for bankruptcy have net profit. Focus on cash flow to safeguard your business' financial health.

In this episode, Mike and I discuss:

• Difference between profit and cash flow

• Challenges of managing cash flow in businesses that rely on insurance payments

• Importance of understanding the financial gap between making a sale and getting paid

• Significance of small changes in cash flow management

• Need to speak in terms of dollars rather than percentages

• Importance of providing bite-sized, consumable chunks of information to busy business owners

• Managing workload for service providers after a certain number of jobs

• Silent killers to profit and cash flow, such as mismatched financing and high interest payments

• Focusing on cash flow to prevent financial failure

• Importance of understanding the concept of the financial gap and keeping it small to avoid cash flow problems

• Tracking expenses and using technology to improve efficiency

• Differentiating between fixed and variable costs when calculating the cost of goods sold

• Analyzing advertising mediums to determine effectiveness

• Mike's programs and services for learning more about cash flow management

 

Listen to all episodes at https://profitablehomeservices.com/

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