EP72: The 4 C's Of Cash Flow

A basic understanding of cash flow is critical to achieving financial success in any business. It is the lifeblood of your business. It's what keeps you going from day to day. To manage your business smoothly, you need to know where your money is and where it should go. Tune in to know the 4 C's of cash flow.In this episode, we talk about…The conventional approach to money management and what's wrong with itUnderstanding how to manage cash flowThe 4 C's of cash flow that will help you stay afloat and grow:Charge — Make sure you're charging enough money for your business and the jobs you're doing. The more money that you make, the more options you have.Carry — Make sure you're carrying your liabilities by having more money in the bank.Collect — Collect more money than you're paying out during the process of your jobs, and the last invoice should not exceed 10% of the total payment.Conserve — Don't spend all your money because you think you are earning enough. You have to prepare for the unexpected.Links to Resources:Learn how to better manage pressure in the Profit Club – www.hammerandgrind.com/theprofitclubFacebook group - https://www.facebook.com/groups/thecontractorprofitgroupFacebook – https://www.facebook.com/hammerandgrindpodcastInstagram - https://www.instagram.com/hammerandgrindpodcast/Website – www.hammerandgrind.comHelp us get the word out to other contractors by leaving us a review or sharing our podcast! Hosted on Acast. See acast.com/privacy for more information.