069 Financial Excellence: Cash Flow Lessons Learned for Small Businesses

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19 Jul 069 Financial Excellence: Cash Flow Lessons Learned for Small Businesses


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Episode 69: Cash Flow Basics for Small Businesses; Crap! I Got a Credit Card; Yakezie Challenge Update; July 19, 2011.

Today I intended to cover some lessons I learned about small business cash flow over the last few years. Before I got that far, though, I had to make a confession about an embarrassing new event in my life: I got a new credit card 🙁

Don’t forget: Living In Financial Excellence airs LIVE every Tuesday at 10 a.m. CST. You can watch live and join the chat at financialexcellence.net/live-show

Show notes:Matt & Janelle Recording the Financial Excellence Podcast

  • The Yakezie Challenge has been really good for our blog. I recommend any personal finance blogger give it a shot.
  • I am the (not so proud) owner of a new Kohl’s Card. I didn’t get the card on purpose but it’s mine now and I own it. I explain the whole mishap on the show today.
  • The main topic of the day is cash flow for businesses. In the personal finance arena, cash is king. In small business, cash flow is king.
  • I explain the difference between cash accounting and accrual accounting, and why business owners need to know the difference.
  • Protecting your revenues are crucial to maintaining cash flow. Sales mean nothing if the customers don’t pay.
  • It’s crucial to do a cash budget and have accurate sales/revenue projections. Otherwise you have no idea if you’re going to be profitable or not.
  • You can influence what we talk about in future shows. Simply fill out this three-minute survey.

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2 Comments
  • Canadian Finance Carnival #46 – Canadian Finance Blog
    Posted at 03:02h, 24 July

    […] at Living in Financial Excellence presents Cash Flow Lessons Learned for Small Businesses, saying “Today I intended to cover some lessons I learned about small business cash flow over […]

  • Accountants Cooloola
    Posted at 00:07h, 18 August

    Thanks for sharing your tips regarding accountancy. I think it will helps in many ways to my business.