Rainy days happen. How’s your umbrella?
Every business needs to have a stash in place for market downturns, slow quarters, or even…y’know, mistakes. But how big should it be?
Today, we offer a firm answer.
We’ll explain how to figure out the right number, and how to get your business there. Having enough runway is critical to the long-term viability of your business. But there is a such thing as too much money in the bank, depending on your location and industry.
Learn why you should never operate a business without the minimum amount of cushion, and how much that minimum amount really is for your company. Start the project of making your business more durable, and able to pivot when the status quo isn’t working. Click Play!
SUBSCRIBE ON APPLE PODCASTS
Stitcher | SoundCloud | Podcast Feed | How To Subscribe
Give us a Rating & Review
Today’s Sponsors
What if there was an online business coaching program that focused strictly on what you need to do, and held you accountable, and that’s it? No fluff, no busywork, just personal guidance from an experienced entrepreneur. That’s Mission Control, Omar Zenhom’s exclusive new coaching program. Mission Control is a 52-week program where Omar personally guides you to the business outcomes you’re looking for — with no detours or side alleys along the way. Learn more at 100mba.net/mc
Recommended Tools
By far the easiest accounting software on the market. We use it for all our businesses, because it integrates with all our accounting, billing, and banking apps. With super affordable plans for small businesses, Xero makes keeping the books much, much simpler. Head to xero.com/podcast and find the accounting solution you’ve been looking for!
ConvertKit has everything you need for effective email marketing — and they make it ridiculously easy. From newsletter subscriptions to complex automations, ConvertKit is the most straightforward way to build your campaigns. Best of all, ConvertKit will even migrate your whole list, sequences, and forms from another platform for you! Check out the best email platform for independent business people at 100mba.net/convertkit
WP Engine is our first choice for small business website hosting (seriously, you’re looking at one of our WP Engine sites right now). They’ve got the tools, features, and power you need to keep your online storefront going strong — and customer support is incredible, like having an extra tech team by your side 24/7. WP Engine has a plan for every size business! Get 20% off at wpeng.in/mba and use PROMO CODE WPE20OFF
Show Links
The Automated Webinar Challenge
The post MBA2157 How Much Cash Should You Always Have in the Bank? + Free Ride Friday appeared first on The $100 MBA.
The $100 MBA Show