The EntreLeadership Podcast

Cashflow Secrets for Long-Term Business Success

Dec 11, 2023

Learn the best way to maximize profits and scale your business. Hear about a business owner who increased profits by 10x in their first year. Discover how to handle problematic employees and make tough decisions. Explore strategies for managing cash flow and balancing business growth.

32:56

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Quick takeaways

Balance personal financial goals with business growth by prioritizing profitable ideas and setting aside a percentage of profits for development and mentorship.

When dealing with inefficient leadership, engage in conversations to learn from their decisions but also develop your own accountable and performance-focused leadership style.

Deep dives

Managing Business Growth and Cash Flow

One of the challenges of rapid business growth is the need to balance expansion and cash flow. While it is tempting to reinvest all profits into the business, it is important to remember that you are running a business to improve your life and enjoy the rewards. By prioritizing your personal financial goals, you can create a formula that allows for both business growth and personal financial stability. Start by forced ranking your ideas and focusing on the most profitable ones. Then, set aside a percentage of profits for training, development, and mentorship. This ensures ongoing growth while still taking home a portion of the profits. Strike a balance that allows you to enjoy your success while continuing to grow your business.

Introduction

3min

Creating a Sustainable Cash Flow Model

6min

Growing a Business in Low Voltage Wiring and Celebrating Achievements

2min

Retrofitting a Commercial Building and Personalized Customer Care

3min

Handling Problematic Employees and Making Tough Decisions

10min

Managing Cash Flow for Business Expansion

2min

Prioritizing Ideas and Balancing Business Growth

6min

Today we’ll hear about:

• The best way to maximize the use of your profits to scale your business

• A business owner who increased his profits by 10x in his first year of business

• What to do when leadership doesn’t want to fire people that are bringing the team down

• How to manage your profits so the business can continue to grow and you can enjoy the reward of your hard work

Links mentioned in this episode:

• The EntreLeadership Podcast

• EntreLeadership Elite

• Have a question for The EntreLeadership Podcast? Leave a voicemail at 844.944.1070 or submit your question for a chance to be on the show with Dave Ramsey: https://www.entreleadership.com/ask

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