When cash is tight, what do I do first?
Tradie Business School Podcast · The Game Changers
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Show Notes
No matter how many projects you have now, if your business is not making profit, then there's a problem. A lot of business owners make the mistake of thinking that they're making money, but forget to take into account the expenses. Are you earning enough every month to actually keep your business alive? Or are you using future jobs to pay for past expenses?
In this week’s podcast episode, Barry and Michael dive into the common reasons why tradies get cash flow issues. They offer tips on what strategies businesses can use to ensure that they are earning money. Barry also discusses the importance of managing the amount of jobs you take in.
If you are someone who is tight on cash and needs help improving their business’ financial situation, then this episode is for you!
Discussion Points:
0:00 Introduction
2:11 Businesses should be making profit
4:37 Have a form of basic measurement
7:49 It’s possible that your business can grow too fast
9:40 Two common causes of cash issues
12:20 What can you do about it?
16:53 Managing your payment terms
Resources:
- Visit the Tradie Business School website (https://tradiebusinessschool.com/)
- Join us on our Facebook Group - Tradies & General Contractors Global (https://www.facebook.com/groups/gamechangingtradies)
Books mentioned in the episode:
- The Path to Freedom by Barry Williame Magliarditi (https://www.pathtofreedom.com.au/free-book-1)
You can also connect with us on Linkedin. Tune in and subscribe to The Tradie Business School on Apple Podcasts, Spotify, and Google Podcasts.
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