There are five bank accounts essentially, five checking accounts that you should create just to understand how healthy your business is financially. The key is the operating expense with that top line number. You can see where you're spending money and where money is coming in. And then taxes, I don't actually care what's in taxes. It's just waiting there so that every quarter of the accountant can write the tax bill.
Run out of cash and your business will crash! That's why in this final episode of our seven-part series, How Your Business is an Airplane, we explain exactly how to manage your finances, giving you a plan to keep your business fueled with cash.
Don also talks with finance guru, Mike Michalowicz, who shows you how to implement his Profit First method.
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Find out more about Mike Michalowicz or Profit First at ProfitFirstProfessionals.com
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