Get intimate with your Cash Flow.
Most business owners I talk to don’t have a business degree and didn’t study profit and loss statements in college. They are self-taught on most of the fundamental business functions and are “building the plane as they fly” in a lot of areas. Though this approach works for some, it is stressful and rarely creates a smooth growth path.
If the business owner I described above resonates with you, I am not going to suggest that you take a year off and go to business school… but I will recommend that you become intimate with one aspect of your business: your cash flow.
FREE DOWNLOAD:
Cash Flow Template for Landscape Business Owners
Let’s talk about Cash Flow…
Cash Flow is the money that’s flowing in and out of your business – hence the name. Having a positive cash flow means that more money is coming into the business than going out and it is just as important as profit when it comes to determining your business’ performance.
Having a solid understanding of your cash flow (even if it is seasonal) will help you:
A simple chart of accounts is necessary in order to generate a Cash Flow document (Aspire Software is great for managing your Landscape Business). Review the reports to start understanding the inflow and outflow of money related to the business. How much goes out, when, and why? Same questions for inflow? Could the timing be adjusted to maximize cash flow?
Getting to know your cash flow can go a long way in improving the operations of your business. We’ve created a straightforward cash flow template in excel, you can download it by clicking the button below.
FREE DOWNLOAD:
Cash Flow Template for Landscape Business Owners
