Why do I need to track my cash flow?
Cash flow rules your spending decisions. You cannot spend what you don't have.
Tracking cash flow helps you prioritize what you can or cannot do in your business.
Managing cash flows will allow you to be organized enough to see if your issue tied to is timing OR profitability.
When you have mastered cash flow management you can make sound decisions.Imagine having the confidence to make money decisions with clarity
With your Cash Flow Tracker, you will...
There are two types of cash flow problem:
- Never pay another late fee
- Figure out what expenses can be eliminated
- Determine if you have a cash flow timing issue OR a profitability issue
- Eliminate being shocked when logging into the bank
- Level up and master knowing your numbers
This spreadsheet will help you determine if your business has the issue of timing.
If you have a timing issue then you can implement the following:
2. ProfitabilityThis spreadsheet will help you determine if you have a profitability issue.
- Change the due dates on your expenses
- Change the due dates for clients who pay you
- Eliminate excessive expenses altogether
If you change the timing of cash flowing in and out but you're still coming up negative then you have a profitability issue.
- Now you know it is time to:
- Change your pricing
- Level up your service offerings
- Look for ways to upsell
- Re-evaluate your client base