EPISODE · Nov 4, 2019 · 20 MIN
#AccountexUSA: Meet Cash Flow Mike
from The Accounting Podcast · host Blake Oliver & David Leary
SponsorsRight Networks: https://cloudaccountingpodcast.promo/rncloudShow Notes00:17 – Meet Cash Flow Mike! 00:36 – Cash flow is king - It's how businesses keep their doors open01:26 – Mike teaches banks effective methods for communicating with small-biz owners01:50 – Mike teaches from the standpoint of necessary advising, instead of trusted advising03:41 – Want to add advisory to your practice? Learn how to tap into your experiences and tell that story04:49 – Mike says it's imperative to start with the end in mind - and map out that advisor/client relationship 06:55 – Since everything you do impacts cash flow, you need to know the reason why you're making every single transaction09:01 – Run your firm like you're going to sell it - keep it show-ready every day09:34 – Stupid cash flow tricks 12:01 – You don't need fancy tools and software, but you do need to track everything - what's coming in, what's going out, and the timing of it all14:15 – When it comes to cash flow, looking ahead gives you time and options14:35 – Practice what you preach. When it comes to advisory, if you believe in what you're selling, why aren't you doing it? 15:20 – What comes in should match what's going out18:39 – A discussion on how having more month than money and oversized growth affects startups like WeWork | NYT Connect with Mike MilanLinkedin: linkedin.com/in/mikemilan/Website: https://www.elevatefinancialtraining.com/Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus. Meet Blake and David in person! November 5-8: QuickBooks Connect in San JoseNovember 5: Practice Ignition PreCon Party in San JoseNovember 6: VIPartners Party with Gusto, Routable & Jirav in San JoseDecember 9-11: Digital CPA Conference in SeattleLimited edition shirts, stickers, and other necessities.TeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/Overcast
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What this episode covers
Mike Milan AKA "Cash Flow Mike" is one of the highest-rated instructors at the nation’s most prestigious banking schools on the topic of financial management for small business owners. He sat down with us at Accountex USA this summer to talk about why proper cash flow is crucial to business success and why accountants and bookkeepers should start with cash when it comes to adding advisory services. Like Mike says, you don't want to just be a "trusted advisor" — you want to be a "necessary advisor."
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#AccountexUSA: Meet Cash Flow Mike
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