Over my career, I’ve had many business successes and many business failures. And the number one stress for me has been cash flow management.
I used to work in the corporate world, and I didn’t have somebody outside of what I was doing to help me manage my cash flow while I was out there raising money for large insurance companies.
Then as I went in and became a real estate entrepreneur, my biggest stresses were managing cash flow. The hard part is how to manage cash flow and then do all the business activities that you need to do?
1. You’re hunting down business
2. Delivering your products or services
But who’s managing the cash flow?
I designed this Cash Flow is King process to fix my own issues and my own problems because I knew that doing the small things is what makes you successful in business.
WHEN I GOOGLED WHAT THE NUMBER ONE CAUSE OF BUSINESS FAILURE WAS?
Inadequate or non-existent planning and inefficient decision making. The most common reason for business to under perform or fail is poor cash flow management.
How do you maximize your cash flow in your business each day, each year?
How do you make sure that you’re meeting those goals and that you’re measuring them successfully?
WHEN I GOOGLED THE NUMBER ONE CAUSE OF DIVORCE?
More than cash flow, it’s communication about money.
I know all the time in the past when my wife and I would communicate about money, it would become a stressful conversation. The reason it was becoming stressful is because we didn’t have a baseline understanding of what cash flow meant and what we were trying to do ultimately with our cash flow and our savings.
Although we had clear cut goals, what happened was, we did not have a visual of our household profit and loss, or income statement, so we could have a baseline for that conversation.
When you’re talking numbers too much it becomes an esoteric subject. I’ve found out that most people can’t hold a lot of numbers in their head – it makes it difficult to have a fruitful conversation.
What we did to make sure we maximize our communication and maximize our cash flow and maximize our communication around cash flow and money is, we began understanding…
• What the income sheet of the household was
• What the money coming in and the money going out was and where that money was going
In our Cash Flow is King process we take you through the processes behind…
• Maximizing communication
• Maximizing cash flow
• Maximizing the results that you’re seeing in your business and in your household.
That’s where the money is going to, and to provide a better life for your family. Maximizing your cash flow is about maximizing your communication with your significant other.
Dominate The Day,
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