March | 2020 | Leaky Bucket of Profits

Cash is King!! We have all heard this before, but what does it really mean? Having a good cash management strategy can mean the difference between making payroll, paying your suppliers or even yourself. Even profitable businesses can struggle with cash flow due to several factors such as not understanding the cash-gap, mismanaging accounts receivable, the invoicing cycle, poor planning and “just in case” management.

In this episode, Tony Malyk shares proven real life strategies on how to overcome the major causes of a cash-flow crunch. You will learn how to get money faster from customers, to plan for a possible crunch and to avoid tying up money in the business by stopping “just in case management”. Learn how to manage your cashflow better so you can unlock cash from your business to make payroll and pay your bills without stress, not to mention to live the lifestyle you deserve.

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Stop being frustrated with your profits by understanding the story behind the numbers. Too many business owners rely on “beer case metrics” to know how they are doing. Does this sound familiar? You work hard all week and on Friday you collect your customers’ cheques so you can run down to the bank to make a deposit. You then run back to the office, pay your suppliers and employees, and if you have enough money left over for a case of beer you must be doing OK. In other words, you don’t measure anything and the only way to know if you are doing OK is by watching the bank account.

It is crucial that you have timely information on how your business in doing so that you can take immediate corrective action to improve profits before losses mount. How do you do this? The answer is to measure Key Productivity Indicators (KPIs). By measuring productivity performance from the front lines of your business, you will have a much better understanding of what is driving the numbers on your financial statements. In this episode, Tony Malyk explains how a KPI system works by comparing it to the dashboard in your vehicle and gives advice on what to measure and how to set up a KPI system. Knowledge is power, so empower yourself with information so you can run a more profitable business.

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Monthly Archives: March 2020

Episode 10: How to Unlock Cash in Your Business

Episode 9: Stop Using Beer Case Metrics to Run Your Business