Managing your cash flow as a small business owner, is essential to your business growth. Even if your business appears to be doing well with plenty of clients on your books, a steady influx of sales and money coming in, poor cash flow management can make it really hard to succeed in the long run.
If cash flow is the reason your business isn’t growing, this episode will help you uncover some of the things you can do to get your growth on track. Cash flow can be a really complex and in-depth area of your business and it’s different for everyone, which is why it’s important you understand what will work best for your business.
In this episode I expand on what positive and negative cash flow is, the importance of strategically planning for growth and why you need to have great processes in place to protect and keep your cash flowing both in and out.
I discuss the three main categories of cash flow, being operational, financing and investments and how these different areas impact your business. I also talk about making sure you have adequate working capital and some different strategies you can put in place to help manage it.
I also touch on the issue of slow moving stock for e-commerce or retail businesses and some practical strategies you can put in place to navigate this.
This episode will give you loads of takeaways to help you make the necessary changes in your processes and your cash flow to grow your business to where you want it to be. I hope this encourages you to go about things a little differently and be proactive about your business and your money spending decisions.
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