Shit is hitting the fan with this economy. Small businesses are scared, large businesses are on the edge of their seat, hell I’m personally scared almost every day! How do I keep income coming in? Where do I make cuts in my business? Do I just stop eating and living altogether?! Fear not! The ladies of Funny Money are back and, on this episode, they’re discussing the importance of cash flow. According to show host Ashley Altum, CPA, cash flow means, “the money coming in and out.” Sounds easy enough right?
Is your cash flow (like mine currently) only going out and nothing is coming in? Check out the blog post “where are you wasting your money” to get back on track!
Alright so on this episode Dr. Cortney Baker and Ashley Altum of Profit Matters dive into the definition of cash flow and how to track it. Simply put, you have a beginning balance…where will that money go, and what will come in to make that balance go up? If you already have a budget for your business, you have all the line items such as marketing, rent, and insurance budgeted for, then you start going over how much cash is coming out and how much money you will collect. Alas, then you have your ending balance. Sounds simple right? Well if you’re anything like me, it still sounds like college physics so Dr. Cortney, has a tool that can help your business with its cash flow called the Guided Cash Flow Tool.
Need help cutting cost during tough economic times? We got you covered with these five tips.
Ashley also drops a bomb on Dr. Cortney that blows her mind…you actually do NOT have to pay a bill by its due date especially in times of crisis. BUT, you do have to know where to budget, and you do have to pay the bill eventually. So don’t get all crazy and run out and buy that new outfit! All of this will help with yes you guessed it, your cash flow!
To top off this informative show about how to keep track of those dollar bills, and because Ashley loves all of you so! She is offering all of the Funny Money listeners a gift. She will go over any cash flow documents in 15 minutes to help get you and your business on track! Again, this is a free GIFT!
So, after reading these amazing show notes, do the words “cash flow” still sound like nails on a chalkboard? Take a listen to the full episode for all the details and get your cash on track!