Secret CFO Strategies to Keep You in the Black - Celia Powell

Secret CFO Strategies To Keep You In Black
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Introduction‌ ‌
The bottom-line is the topic today and part one of a two part cash flow series. How do we as entrepreneurs, business owners grow our profits during uncertain economic conditions and transitioning business environments, as we transform into the “Virtual Century?

Cash flow is king at the end of the day and we will tackle strategies to manage and grow it.  We have options and our listening audience will be introduced to some and reinforced to others, what we can do beginning today to increase profits that translate into increase cash as we discuss secret CFO strategies to keep you in the black, part one of the cash flow series.
 
Show‌ ‌Objectives‌ ‌-‌ ‌The‌ ‌Why‌ ‌
Mastering cash flow for the business owner/entrepreneur is the key to sustaining the business long term. The sooner the business gets a handle on its cash flow the greater the likelihood that they will remain in business. Lack of cash is the number one reason businesses fail and lack of cash is the direct result of having customers/clients buy your goods and/or services. 

Getting to the place of acknowledging the need to implement strategies to master cash flow, surprisingly requires a mindset shift to be open to take action versus being information overload to the point of inactivity.

Key‌ ‌Issues‌ ‌-‌ ‌​Owner/Manager‌ ‌Perspective:‌ ‌

•  Be diligent about reviewing and monitoring financial statements
•  Shift from being reactive to financial conditions to being proactive
•  Become knowledgeable about client’s needs and increase value
•  Know when to ask for help and support

 
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What‌ ‌You‌ ‌Need‌ ‌to‌ ‌Know:‌‌ ‌

Prior‌ ‌Episodes‌ 

• https://www.ibgr.network/show_notes/dealing-with-the-not-good-with-money-mindset-which-entrepreneurial-archetype-are-you-celia-powell
• https://www.ibgr.network/show_notes/we-there-yet-the-post-pandemic-financial-plan-celia-powell
  
• https://www.ibgr.network/show_notes/financials-for-the-stage-iv-plan-celia-powell
  

What‌ ‌You‌ ‌Need‌ ‌to‌ ‌Do‌​‌ ‌-‌ ‌‌The‌ ‌How‌ ‌

Six Master Cash Strategies

1. Revenue
2. Expenses
3. Working Capital
4. Long Term Assets
5. Financing
6. Track Cash

Create a Cash Mindset and Habit Strategies
Taking Action 
 
Resource ‌link:‌ ‌  ‌Amazon.com: Cash Flow Secrets: 7 Highly Effective Master Strategies to Grow Your Cash, Build Your Profits, and Create Lasting Business Success eBook: Oluwek, Sandy: Kindle Store

Shows‌ ‌
Previous:‌ ‌ ‌Episode‌‌ ‌‌6  Dealing With “The Not Good With  Money” Mindset.

Next: Episode 8  Keeping the Cash Flowing 
 
Written‌ ‌by‌ ‌Celia‌ ‌L.‌ ‌Powell‌ ‌CPA‌ ‌
 www.celiapowellcpa.com
celiapowellcpa@gmail.com
Facebook‌, Instagram and LinkedIn @celiapowellcpa

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