Grow A Small Business Podcast QFF 25+ years of giving financial advice. Now helping small-medium business owners raise capital by taking advantage of debt; leveraging it and generating a return for businesses to grow. (Tom McMeekin)
For this week's episode, Michael interviews Tom McMeekin. He's a financier, debt adviser, coach & strategist, and Tom is based in Hobart, Tasmania, Australia. Tom gets what it takes to be a banker, his experience and certifications will vouch for his reputation.
In the past 25 years, Tom specialized in assisting small-medium business owners, specifically in working capital and debt funding. Tom focuses on the mastery of cash flow, that before business owners will embark on a change, they have to make sure that the cash flow is sufficient.
The reason things don't usually go as planned and that there hasn't been a project that didn't have complications. However, with a cash flow plan paired with clever leverage of debt you can "plan for the worst but expect the best."
This Cast Covers:
- Generating capital through debt funding.
- Understanding cash requirements for each business goal.
- Seeing business as a team sport.
- Outsourcing a particular problem if you're not equipped for it.
- Keeping in mind capitalization whilst making growth objectives.
- Generating income from the debt made.
- Not forgetting the last thing, which is taxes.
- Monitoring the balance sheet.
- Mastery of cash flow.
Links:
Additional Resources:
Quotes:
"Quite often people will come up with a good idea or have some ideas that they're trying to execute, but not understand the cash requirements for each one." — Tom McMeekin.
"If you don't have the skill, it's not a particular problem, you need to outsource it." — Tom McMeekin.
"Spending time building out those forecasts with the right people on your team, I think is critical." — Tom McMeekin.
"You can plan for the worst but expect the best." — Tom McMeekin.
"If you're leveraging to generate income, who cares how much debt you've got." — Tom McMeekin.
Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod https://incompetech.com. License: CC by http://creativecommons.org/licenses/by/4.0