TBL Episode 88: The importance of cash during uncertain times

Let's face it…we don't really know what the next 6 months are going to look like. Honestly, I'm still trying to wrap my head around what has just happened these last 6 months. Surprisingly, we have actually seen the online businesses we work with thrive this year as more people are spending larger amounts of time on the internet. But can we expect this COVID bump to last? I honestly don't know. That's why for this episode, we discuss: The inherent risks of running an online business in the US during the next 6 months How to be smart with any bumps in revenue you've received these last 2-3 months Why holding onto extra cash in your business could be the most important factor in getting through another potential economic downturn Understanding the balance between keeping money in your business and investing your extra profit The importance of forecasting so you can be prepared for the unknown Why bookkeeping and financial tracking are more crucial than ever