Today’s episode is about what’s happening on Day 3 of the Next Level Challenge. My discussion will be around managing the cash flow in your business.
When it comes to your accounts, it’s a really good idea to look at your expenses. This can help you do some forecasts for your business. Managing your business and understanding what your outgoings are, on a regular basis, allows you to have more peace of mind, more control, and more understanding of what’s around the corner so you can manage risk much better.
If you know how much is going out over a period of time, say in the next three months, then you can start to look at what you should be paying yourself? Can you increase that ? And then you could start to see if there’s any profits. The next thing to plan for is what do you do with those profits. Decisions about what’s good for your business will be based on understanding what those figures look like.
On the 3rd day of the challenge, we will be discussing more of the cash flow in your business and how you will be managing it. We start with profit first then look at how you, as the business owner, can start physically managing paying yourself more. This is a crucial part of a business owner that we have to start thinking about our money as an enabling us to achieve our value.
Listen to the full podcast here
Here are links you need to check out:
Sign up to Next Level Challenge: https://wealthstrategist.kartra.com/page/nextlevelchallenge
Facebook Group for the challenge: https://www.facebook.com/groups/womensmoneymastery