Cash flow is a part of business that is often ignored. As long as you have profits on paper, and as long as there's cash in the bank, it's easy to think that everything's OK.
And yet it's only by being intimately aware of your business's cash flow that you can answer certain questions, such as whether you can afford an additional expense, or to bring on another employee — or even if you can just pay yourself more.
A couple weeks ago I did a Facebook Live discussing the importance of knowing your business's cash flow, and a method that allows you to know exactly what you can afford.
I posted that video on the blog, and also summarized its main points in writing as well in case you prefer to read. OK, I say “summarize”, but it's a full-length blog post, so you won't miss anything at all if you choose to read instead of watch.
Either way, it's an in-depth discussion, but this topic is a bit complex so it's definitely necessary.
Check it out by clicking below:
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