Ever wondered why being profitable doesn't guarantee financial stability? In this episode, Fiona talks about the crucial distinction between cash flow and profit, highlighting the need for small business owners to actively track their finances. Tune in!
You'll Learn How To:
- Tracking cash flow and profit
- Setting up a system for monitoring cash flow
- Creating a cash flow forecast
- Understanding the impact of cash flow on day-to-day operations
- Introducing the Profit First Model
- Managing expenses based on profit allocation
- Balancing cash flow and profit to alleviate financial stress
- Seeking professional guidance from accountants or financial planners
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