How to Get Cash Confident in Business: Essential Steps for Entrepreneurs

What’s the biggest obstacle preventing my business from scaling?

For many entrepreneurs like me, it’s not a lack of sales—it’s poor financial management. In this episode, I dive into one of the most critical steps in my Profit Method framework: cash confidence. As I always say, “You need to know your numbers. Without that financial clarity, it’s impossible to grow your business.” 

I start by revisiting my Profit Method framework, which is designed to help entrepreneurs at every stage of their journey. Step four—finances—comes into play after sales are rolling in, but this is where many businesses stumble. Even successful companies can go bankrupt if cash flow isn’t managed well. My mission in this episode is to arm entrepreneurs with the knowledge and confidence to manage their finances effectively. 

The highlight of this episode is my Cash Confident Framework, a system that breaks financial management down into easy, actionable steps. I emphasize how mindset plays a vital role in achieving financial success, and I also walk you through the importance of understanding your financial statements and creating a solid business financial plan. I stress that financial decisions should always be data-driven, not emotional—because, as I often say, “Numbers don’t lie. Once you start listening to the numbers, you’ll make smarter, more profitable decisions.” 

Listen to learn:‌

• Get Cash Confident: Understanding your finances is crucial for growth. Cash flow mismanagement is a major cause of business failure.
• Know Your Numbers: Whether it’s your balance sheet or income statement, clarity in financials allows you to make data-driven decisions.
• Mindset Matters: A positive money mindset will help you make better financial choices and optimize profitability.
• Create a Financial Plan: Set clear targets, monitor your progress, and ensure your business is both sustainable and scalable.
• Cash Flow is Queen: Sales may be coming in, but without proper cash management, you could still run into trouble.
• Track Your Expenses: Regularly track your income and expenses to stay on top of your financial health.

Links:‌ ‌  

• Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business
• Join our She Means Profit Facebook group

Courses:

• Cash Confident Mindset: Transform Your Mindset into a Money-Making Machine
• From Office to Entrepreneur: What You Need to Know to Build a Successful Business
• Path to Profit With Sales: Insights into Marketing and Sales
• Cash Confident Framework: Smart Money Management for Small Business Owners
• From Expert to Thought Leader: Amplify Your Influence, Elevate Your Brand, and Lead Your Industry
• Cash Catalyst: Mastering Personal Finances for Successful Business Owners

Work with me:

• Book a 90-minute Strategy Call

Follow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa