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 Philip Campbell


"Never Run Out of Cash is a must-read and must-use for business owners, operators, and accountants.  As a former CFO and a business owner, I know how few people really understand how to project and manage cash.

Philip gets it.  And he explains it in a way you can use.

You will learn the important questions.  More importantly, you will learn how to answer them so that YOU never run out of cash.”

Steve Koinis
Entrepreneur


“This powerful, practical book gives you the key to business success. You learn the most important lessons of all to become wealthy.”


Brian Tracy, author
“TurboStrategy”

 

“This is a revolutionary money-management book.

Throw out all the other complicated methods of handling projections and financial strategizing – use Philip’s Peace of Mind schedule to get just that – Peace of Mind about your cash flow!”

Dr. Joe Vitale
Best-selling author of “Spiritual Marketing” and numerous other works.


"Philip Campbell's book shows you not only how to manage the dollars and cents of cash-flow, but also how to manage your attitude and beliefs about it.... something I've never seen anywhere else. If you want to learn how to finally solve your cash-flow problems - get this book now!"

Jim Edwards
Author, "Immediate Money Immediately"


I highly recommend that you follow Philip's step-by-step process. It was so easy to do.  It made all the difference for me.  Now I'm finally back to having fun growing my business."


Ricky Hux, Owner and President
Best Fit Solutions, LLC


“Never Run Out of Cash is a must read for anyone involved in business. Philip has written an easy-to-read guide with practical tips and strategies you can implement immediately.”

Jill Griffin, author, “Customer Loyalty: How to Earn It, How to Keep It”

 




"Look Inside the Book"

Excerpt from the

Introduction

__________________________

 

 Without the facts, all we can do is stew around in confusion.

                                                                - Dale Carnegie

 

My purpose in writing this book is to help make sure you Never Run Out of Cash.

As a business owner, you are excited and motivated by the opportunity to create a successful and growing business. You want the opportunity to take control of your financial future and become financially independent. The opportunity to create the personal fulfillment and satisfaction that comes from doing the work you love and enjoy.

You have invested your time, talent, and financial future in your business in order to enjoy the benefits only a business can deliver.  

Benefits like: 

  • The pride of ownership.

  • More control over your life and how you spend your time.

  • Not having a boss constantly breathing down your neck.

  • Making more money.

  • Creating financial security for yourself and the ones you love.

The disturbing trend in business though is that the dream of business ownership is too often being destroyed by the pain and loss that occurs when a business fails. Hundreds of thousands of businesses are failing every year. That means hundreds of thousands of people are enduring this very painful and embarrassing process every year.

My experience in business over the last twenty years has convinced me that the single biggest reason the small business failure rates are so incredibly high today is this one simple fact: Most business owners don't really know what's going on with their most precious asset - their CASH.

Despite the fact that cash is the lifeblood of the business, the fuel that keeps the engine running, most business owners truly don't have a handle on the flow of cash into their business and the flow of cash out of their business. As a result, more businesses are failing today than ever before.

I have seen very experienced and seasoned business professionals make incredibly poor business decisions because their focus was on something other than their cash flow. Once they see their business through the lens of it’s true cash flow, their decisions are often times 180 degrees different. Such a dramatic shift in decision-making comes from finally seeing their cash flow in a way that is crystal clear and simple to understand.

In this book, I will share with you a powerful and simple concept that will transform the way you manage your business from this point forward. I will show you how easy it is to take control of your cash flow. I will share with you the principles and the tools that will put you back in control of your business.

At the same time, I will help you discard some of the things you have been taught about managing the financial side of your business that are getting in your way.  We will clear away those obstacles so you are perfectly positioned to create the kind of business success you have always dreamed of.

And best of all, you will be in a much better position to avoid the pain and loss associated with failure in business.

You will be amazed at how much easier it is to manage your business properly when you know what’s going on with your cash flow. You can grow your business with confidence when you know the cash flow impact of every important business decision you make.

 The Two Critical Questions

The most important thing you can do to take control of your cash flow is ask yourself two very simple questions. These two questions are almost magical in the way they direct your focus on what’s most important.

1.        What is my cash balance right now?

2.        What do I expect my cash balance to be six months from
     now?

If you can answer each of these questions with a number, then you have your cash flow (the lifeblood of your business) under control.

If you can’t answer each of them with a number, then you don’t have your cash flow under control.  You are not properly managing the most precious asset your business owns.

Cash Flow Problems Don’t “Just Happen”

I used the two questions recently with our family finances.

I had decided to take some time away from day-to-day business and devote my attention to researching a business idea that had been rolling around in my head for a while.  About mid way into the research, I answered the two questions regarding our family finances.

I didn’t like the answer to question # 2.  I looked at the number for what I expected our cash balance to be six months from now and I didn’t like the answer.

I took the time to think through what I wanted the cash balance to be.  I then considered how I could make that happen.  In short order, I had created a list of three action steps that would get me where I wanted to be in terms of that cash balance.

Over the next three months, I implemented the plan and achieved the objective.  The cash balance ended up where I wanted it to be.  And that would have never happened if I had not answered question # 2 six months before, decided I didn’t like the answer, and created a plan to change it.

Think about what the alternative would have been.  If I had not asked the question about what I expected the cash to be six months from now, I would not have seen the problem ahead of time.

I would not have seen the problem until it hit.  I would have seen it when it became reality, when my cash balance RIGHT NOW was not what I wanted it to be.  And that’s a terrible time to figure out you have a cash flow problem.

Remember, cash flow problems don’t “just happen”.  They can almost always be seen long before they ever happen.  Your job is to know what you expect the cash balance to be six months from now - that way you’re in control.

The Peace of Mind Schedule

The key to answering question #2, is having the right tool.  The standard financial statements were not intended to help you manage your cash flow.

The standard financial statements that all businesses use are not adequate for answering this question for several reasons. Financial statements are always historical, meaning they’re always presenting what happened in the past.

They are a bit like the rear view mirror in your automobile.  The rear view mirror is very helpful when you need to see what is behind you.  However, when you are driving down the highway, your focus needs to be on what’s in front of you.  An occasional glance in the rear view mirror is all that’s required.

You have to have a good clear view of what’s ahead of you in order to get where you are going safely.  Look in the rear view mirror for too long and you will soon be crashing into something in front of you.

We will talk more about the standard financial statements and why they are not the right tool for answering question #2 later in the book.  

I created the Peace of Mind schedule in 1991 to fill this gap.  It’s very easy to use, yet very powerful in providing you a crystal clear view into your financial future.  Use this schedule religiously.  I would never, ever be without it.

Part Three of this book is dedicated to helping you put the Peace of Mind schedule to work in your business.  You will be amazed how this schedule will free you from worrying about your cash flow. 

No more wasted time worrying about what’s going on with your cash flow. Instead, you can focus your unique talents and abilities each day on ways to grow your business and make more and more money every year. And that’s a recipe for success and wealth creation.

I trust you will enjoy the book and use it to make your business even better and stronger than it is now.


Click here to go back to the Table of Contents of the book. 

 

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