Small businesses make a lot of mistakes when it comes to cash flow. They spend money on things that they don't really need, and pay for things before they need to. Don't cut marketing or sales staff because those are not going to be effective investments in the long-term. Cut personal assistant, luxury car, expensing, travel - these are all bad investment decisions. Start cutting shit that's legit expense so you can focus on what actually makes your business successful.
One of the common killers of inexperienced entrepreneurs is not knowing how to manage your cash flow. In this episode, Andy Frisella talks through the typical mistakes that he himself has made and the lessons he's learned from doing business for almost two decades. From not paying your invoices before they are due to finding innovative ways to generate cash, The MFCEO's advice will help any entrepreneur and any business avoid a cash flow crisis.