The EntreLeadership Podcast
My Business Has Cash-Flow Issues
Mar 31, 2025
Explore the journey of a business owner facing cash flow hurdles and learn strategies to manage project financing effectively. Discover insights on leading successful ownership transitions in family businesses and how one company remarkably doubled its revenue. The discussion also covers the critical impact of credit card fees on finances, with actionable advice on overcoming these challenges. Plus, dive into the importance of strategic planning and communication in fostering overall business growth!
37:53
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Quick takeaways
- Establishing clear payment terms and strengthening client relationships are essential for improving cash flow and reducing financial strain in projects.
- Proactive succession planning and alignment on mission and values can enhance leadership transitions and foster rapid business growth among team dynamics.
Deep dives
Navigating Cash Flow Challenges in Contracting
Managing cash flow is crucial for contracting companies, especially when dealing with large projects that require upfront material costs. Contractors often face delays in payments after submitting their requests, which can create significant cash flow issues. To address this, establishing clear payment terms at the outset of a project is vital; communicating a firm expectation for prompt payment helps prevent financial strain. Strengthening relationships with clients can also lead to quicker payments, thereby reducing the time spent in financial limbo.
