Do you even know where to begin to Manage Cash Flow in your business?
I wanted to show you something amazing that will give you the confidence and capabilities to no longer worry about how to manage cash flow in your business…
It’s so incredible because, it’s a methodology that piggybacks on our existing behaviors and habits, making it super simple to implement and change your life for good. Are you ready? (I don’t want you to miss this!)
Look, cash flow is the lifeblood of your business. You need it managed and flowing smoothly, or else you die.
Just as our bodies need proper blood flow to be healthy, your business requires healthy cash flow. Now manage cash flow without it being a mystery.
To be honest, I had to learn the hard way about not having a healthy business. My cash flow had no rhythm, and before I knew it, I was in debt up to my eyeballs. You might have or are now experiencing the same thing. (Don’t worry there is hope!)
I won’t get into the details right now about my life changing experiences, and how my business health started performing like an Olympian, other than to say, this opportunity here you are reading about is what turned things around for me.
You see, my challenge during that time was that revenue was increasing, business was growing and I thought I was right on track. You read that right….that was my challenge. (In fact, you may have the same challenge and not realize it could be a problem.)
Isn’t that the goal you set out to achieve in your entrepreneurial endeavors? Isn’t the “American Dream” focused on building a business and making money?
If that’s what you’re after, you’ve made it right?
Eh…not necessarily. With moe money comes moe problems…maybe you have felt that in your own business.
Common Misconception
What we don’t often realize is that the, size of a business doesn’t matter. It doesn’t matter how big it is if it isn’t getting the job done. So what does matter?
It’s the health of the business that should be our focus. Grow profits, not necessarily revenue.
Well, you now have something awesome to look forward to, and if this is starting to sound right for your business, keep hold of that tension.
I can say that because I’ve experienced this same awesomeness and transformation in my business.
Start getting paid what you’re worth, since you’re the most important employee in your business, and you will grow your profits faster than by any other method!
The Stupid Simple Trick
The first and foremost thing you need to do in your business to manage cash flow properly is to adopt a new mindset. This old way of thinking is something that has been drilled into your head since you were in college. But today it needs to break and a new mindset is required to take its place. One of the foundational principles of Profit First surrounds the famous and old formula of
Sales- Expenses = Profits
We call this the Frankenstein formula. It is called that because it is a monster. This is what you have always been taught.
But now you have the Profit First Flip. This is the mindset you need to adopt immediately to start running the healthiest business you can.
Sales-PROFITS= Expenses
Take a predetermined amount of profit and set it aside! This is the starting point for your business health to start performing like Michael Phelps swimming the 100m butterfly.
I’ll tell you what I like about toothpaste. When you get a new tube, you don’t waste any brain power thinking about how much toothpaste you’re going to put on the brush, but when you get down to the end you get really creative on how you’re going to get the toothpaste out while paying attention to how much you actually need to get your teeth clean.
Look we behave no differently with our money. We are much more creative and effective when our resources are limited. Even if it’s a perceived limitation.
If you will begin to change your mindset and pay your profits first, the health of your business will begin to increase dramatically.
