September 2024 we delivered our webinar, Mastering your Cashflow: Essential Strategies for Business Growth.
This is the link if you wanted to catch the replay.
In this webinar, I try and keep it concise as possible.
This webinar has three sections.
Section 1 [2:15]: Understanding the difference between cash and profit - they are related, but not identical twins - they are more like cousins. In this section, we look at a real Profit and Loss Statement and talk about revenue, gross profit and net profit and how this links to your cashflow.
We also discuss what your profit pays for [8:00].
Section 2 [13:15]: Key elements of effective cashflow management.
Timing!
Understanding the difference between cash and profit.
Don't run your business from it's bank balance.
Keep personal and business funds separate.
Keep entertainment cost so the lighter side.
Keep your drawings / shareholder salary manageable.
Section 3 [16:37]: 3 things you can do right now to improve your cashflow.
Tighten up on your invoicing processes.
Organize your bank accounts to manage cashflow better - have different 'pots'.
Review your P&L and set a budget.
Review your balance sheet and set up a cashflow forecast.
Wrap up and Q&A [25:45]. Any questions, please email me kate@tidybooks.co.nz or book a call below.
Happy watching!
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