Want to know if you have enough money to pay your bills? Want to know when you are getting more money in? That’s cash flow! It’s really important and today we talk about some pretty basic steps you can take to make sure your cash flow stays in the positive. Give a listen and find out more. Check out the website for more content www.bcbousa.com
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Full Recap:
A key component to a healthy and successful company is a positive cash flow. Throughout several conversations this week Dan had with existing and potential customers the topic of cash flow came up so today’s episode focuses on a couple steps you can take to make sure your company stays in a healthy position.
Every week we discuss staying on top of your invoicing and accounts receivables. Part of that includes not only sending out invoices when a job is completed but also sending out deposit and progress invoices for larger ongoing projects. If you have the ability to, make sure you are setting up accounts with vendors to purchase materials, etc. so all purchases are not COD. This will allow you as a company time to invoice and collect payments on ongoing projects.
As we do every Friday, let’s make sure we are taking the steps necessary to set ourselves up for success next week. Review the week’s tasks and ensure all priority projects are completed. Review your calendar and task list for next week to make sure you are prepared and organized as you head into the weekend. Lastly, pat yourself on the back for a job well done this week! It was a great week! Celebrate yourself!