S9 E21 Cash is King - Let’s discuss With Raj Kapur

E21 Cash is King - Let’s discuss “Cash Flow or what is commonly referred to as Working Capital is the heart of any business,” “Without it, a business cannot survive. As a small business owner, which includes coaching, consulting business even solopreneurs, the survival of your business depends on the way your money moves. Understanding how cash flows in and out of your business give you the power to grow strategically. But once your cash flow dries up, it's tough to dig yourself out of the hole, and it inevitably impacts all aspects of your business. What is cash flow? Cash flow measures the net amount of monetary assets coming into and going out of a business over a set period. It shows the financial health by showing how much liquid cash a business has on hand. A healthy cash flow indicates that a business is in good financial health and can meet its short-term obligations. A business with poor cash flow may find it difficult to pay its bills on time or may even resort to borrowing money to keep afloat. For coaches and consultants, understanding cash flow is imperative to the success of their business. cash flow allows you to reinvest in your business, hire help, and scale your business to new heights. To improve your cash flow: - Keep track of their income and expenses - Maintain a healthy balance between their income and expenses - Understand all aspects of their finances - Make sound financial decisions for their business and themselves.