Market Research Request -
I am working on a digital product for small businesses. Are you:
🌈Running a small team (employees or contractors)
🌈Scaling your business
🌈Sell online
🌈have an accountant
🌈have 10/15 mins to talk
- Comment YES 👇or DM👌#microbusiness
Q7 Simplest way is to list out what you are expecting in from your customers by month and do the same for your expenses. See what profit you are making, if you are not making any, you need to cut back on your spending.
#Cashflow#USABizParty#knowingyournumbers
A7: If you want to stay in business, you better do a cashflow analysis on a regularly basis - otherwise, you won't know what don't flow :D
#USABizParty
Ooh I love cashflow calendar - haven't heard that before. Inspections are always a bit stressful even if you have everything right!
#USABizParty#Cashflow#knowingyournumbers
The numbers in your business, are telling your business story.. They will show you who is your best customer (and worst!). How much it cost to 'land the big deal' and if it was worth it. Its in the Profit & loss and Bal sheet.
#USABizParty#Cashflow#knowingyournumbers
Ha ha, I know what you mean. For me though I always spend Mon, Tues & Wed thinking it is the next day then Thurs & Fri thinking its the day before
#USABizParty#Cashflow#knowingyournumbers
Also, unless you read your numbers - all you are doing is getting them ready to work out your taxes - Necessary but will not move the dial in your business. You need to have a system in place to look forward!
#USABizParty#Cashflow#knowingyournumbers
Divide the work into 2 - one in your new system today that you keep up todate from now on and the 2nd is the backlog that you tick away at over the next few weeks.
#USABizParty#Cashflow#knowingyournumbers
@carmelseery Sadly, my bookkeeper did not keep up with my books. (Should have fired her a long time ago!)
So, I am finally caught up for the year. It's been a difficult row to hoe, and I know I have a lot more work to do. But each day, we make progress.
#USABizParty🇺🇸
#cashflow
Q6 When you find yourself ‘firefighting’ with money, money comes in and you rush to send it to the person/business that is shouting for it the loudest. Take a breath and work out your income and outgoings.
#USABizParty#Cashflow#knowingyournumbers
Yes it can. Bookkeeping tends to be one of the first things outsourced, which is fine, BUT, you need to read the reports at the end of the month or you will always be guessing!
#USABizParty#Cashflow#knowingyournumbers
Yes, I've had that happen, and I'm currently working to get control of the numbers again.
Not managing your numbers can be very stressful!
#USABizParty🇺🇸
#cashflow
Yes you do, however, it has to be in a purposeful way or you can loose your way very fast. Growth in a business can leave no time for control of money, you need the processes in place first.
#USABizParty#Cashflow#knowingyournumbers
Yes, it was everything but there was some accounts. I as paid minimum wage as a work experience project. I was lucky though, they gave me a job after the 6 month programme was finished.
#USABizParty#Cashflow#knowingyournumbers