S1 Ep8 Managing cashflow and wages

Two business owners share their journey to a million, discussing the challenges and lessons learned. They delve into managing cash flow, dealing with debtors, and the importance of celebrating achievements and fostering a positive business culture. The conversation delves into the importance of valuing and appreciating the team, the challenges of staff wages and fairness, the holistic nature of employee packages, and the true cost of wages in business.TakeawaysCash flow management is crucial for business growth and stability.Celebrating achievements and fostering a positive business culture are essential for long-term success. Valuing and appreciating the team is crucial for business success.Employee packages go beyond just wages and include various other factors.Chapters00:00 The Journey to a Million13:42 Dealing with Debtors21:23 Cash Flow Summary and Business Culture28:32 Valuing Your Team39:54 The Whole Package