Check out the latest article in my newsletter: Strategic Financial Vision - Building a Robust Cash Flow System with 4 Vital Components https://t.co/0tTIGHMb8B via @LinkedIn
3 things hurting your cash flow:
- your prices are too low
- late customer payments
- extending too much credit
Tighten these up and improve your cash flow!
Top 6 challenges women small business owners face:
1: Marketing 24%
2: Lack of capital / cash flow 17%
3: Recruiting / Employee retention 15%
4: Managing / Providing benefits 14%
5: Administrative work 13%
6: Time management 9%
*Small Business Trends Alliance Survey 2021
Your break-even point is how much you have to sell to cover your costs before you make any money.
To calculate:
Break-even point ($) = fixed costs divided by gross profit margin
Break-even point (units) = fixed costs divided by contribution margin
Are you selling enough?
Do you get out of bed and jump for joy because it's "get my expenses done" day?
If you're like a lot of business owners I know, you'll do almost anything to avoid dealing with them.
Want to get this off of your plate?
Write a short procedure and train someone else to do it!
Does looking at your financials remind you of that feeling you get when you have to go to the dentist?
You don't have to feel like that any more!
#financialeducation#WomeninBusiness#startups
Do you ever worry that you're not going to have enough money in your business to pay your bills? If you do, then you're not alone. The best way to conquer the worry is to understand your financials and learn to take actions to increase your cash flow. https://t.co/Fy8lmdk8OJ