003 - Help! I made a profit last year but there's no money in the bank

Has this ever happened to you? You've gone to your accountant at the end of the financial year or to do your tax return. Your Accountant is all happy and jolly and says "Well done. You made a profit this year. This is awesome". They show you your Profit for the year on their computer screen and you start getting excited. You think wow, that is an amazing amount to make as a profit. What am I going to do with all that money? So of course you you ask, "Where is that money? How do I take that profit out?" They give you a look and you feel like you've asked a silly question and then they tell you, "Oh, that money is not really there. It's already gone. It's not cash in the bank, it's the accounting profit so it doesn't translate to that amount being in your bank account." So how is it possible to be running an on-paper profitable business but not have money in the bank? In this podcast episode I'll explain how and why this happens and more importantly, what you can start doing today to ensure that you are banking cash profits on every invoice that comes into your business. In this episode I mention free resources; head to my website here to get started > www.laurajohagan.com/resources Looking for help to transform your business into the thriving, profitable business you know it could be? Book a Discovery Call with Laura here https://laurajohagan.satoriapp.com/offers/275425-profit-and-growth-discovery-call Connect with Laura Website: www.laurajohagan.com Email: [email protected] Instagram: www.instagram.com/laurajohagan