COMPETITION FOR CASH
FEBRUARY 04, 2016
Discovery works to unite content experts with business owners but also works to identify the strategic partners that help, and understand, first generation entrepreneurs as much as we do. In Q1 this meant partnering with local law firm,
Ice Miller LLP, for a special Discovery event + Ice Miller speaker series collaboration.
Founder & Principal of Gerber, LLC, Randall Gerber, discussed the competition for cash as a business owner. Here are some of the key pieces Randy shared on how a busy entrepreneur can get a better handle on their business and personal cash flow.
Leading Indicators | Your profit and loss statement is a lagging indicator of your expenses, showing what has already happened in your business. Create a 13-Week Cash Flow Projection to better predict and understand what is going to happen.
Uncover Your Trigger | Develop indicators for profitability & cash that are specific to your business. What is your cash flow sensitive to? The holidays? The weather?
Beware | Cash gobblers don’t always reflect in profit. Beware of some cash guzzling culprits like depreciation and buying inventory!
Pillow Talk | Figure out how to communicate expenses with your spouse. Start by asking them, how much do they want to know?
Check out all the events covered in quarter one of 2016 in the Discovery recap
VIDEO HERE.
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