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Grab a copy of Bob's Top 10 Tax Tips For Self-Employed Contractors: https://trybta.com/DL285
To learn more about Breakthrough Academy, click here: https://trybta.com/EP285
Ever run out of money despite making millions of dollars?
This is the situation Bob Gauvreau has seen hundreds of contractors fall into.
Revenue is up, profit may even be up.
But they run out of cash unexpectedly and when they get hit with an unexpected bill or expense…
…they crumple.
In today’s episode, Bob walks us through a foolproof system for managing your cash flow so financial stress becomes a thing of the past.
Episode Highlights:
- Learn why your P&L might be lying to you, and which metrics actually matter when it comes to the health of your business
- Understand where cash gets “stuck” and how to avoid accidentally spending the cash you need to pay the bills.
- Discover the foolproof system for managing your cash flow and forecasting potential issues 90 days in advance (no more being jump-scared by your bank balance)
Get in touch with Bob: https://gauvreaucpa.ca/
00:00-Intro
02:18-Cash Flow vs Profit
08:32-Tight Cash Impact
15:36-Optimizing Cash Inflows
23:04-Accounts Receivable Systems
29:38-Managing Cash Outflows
43:57-Owner Compensation Rhythm
47:24-Financial Process Organization
