Pretend for a minute that I am an investor in your business.
Here’s the background.
- You’re running a business you love.
- You’re passionate about your product and your customers.
- You’re working your butt off to make it successful.
- You’re dealing with the problems that come with having employees (a little bit like running a daycare sometimes)!
- You’re putting out fires since you are the go-to person for the really big problems.
- You’ve discovered that running a profitable business isn’t as easy as it looks on the outside.
- Your employees expect to get paid.
- Your vendors expect to get paid.
- Your lenders expect to get paid.
The month just ended.
As an investor in your business, I’ll ask one simple financial question. And you should be able answer it in a 2-minute conversation.
What happened to the cash last month?
Does the answer roll off the tip of your tongue? Can you put your fingers on the answer instantly?
You should be scared if you are running a business and can’t answer that question. It means you really don’t understand your business financially.
Managing the financial side of your business starts with understanding your cash flow every month such that you can answer that one question in a 2-minute conversation.
If you would like to find out how to answer that simple question, take a look at my Complimentary Quick Start Guide.
Yes, it’s FREE.