I had a power session with a client recently and discovered a few things that I think are applicable to most business owners. Understanding your cash flow is extremely important for all businesses, especially new businesses, and can make or break your success.
It is also extremely important to consider the differences between the number of clients, and the amount of revenue you are earning per client.
Tune in to hear a deep dive into these two topics and share some examples from the power session with my client.
What you'll hear in this episode:
[1:20] This episode is about being aware of where your money is coming from and where it is going not solely about expenses.
[2:22] Key takeaway #1 from a power session with a CFO client - cash flow
[4:33] One major flaw that I see in cash flow planning with a lot of newer business owners.
[5:40] Key takeaway #2 from a power session with a CFO client - clients vs revenue
[9:47] Take a hard look at your income streams and identify if there are any that you want to shut off, or should shut off, to free up time for more profitable ventures.
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.