Managing Receivables – A Key to a Healthy Cashflow!

By Action Coach Dave Beam

One of the reasons that people solicit my help as a business coach is to improve their cashflow. If you are in business, you’ve heard it said that cash is king! It’s the gasoline in your tank – if you run out, you are out of business!

There is much that can be done to improve cashflow, but one of the simplest, easiest ways is to effectively manage receivables. The fact is that many businesses do a mediocre job at best managing their receivables. With that being said, I want to give you some practical tips on how to better manage your receivables. These tips will help you only if you decide to use them.

I'll Get My Accountant to Do That

By Action Coach Dave Beam

I was working with my new client, Tom, who had some organizational and financial challenges. One of the first things I ask clients like Tom to do is develop a cash flow budget. I asked him to organize a picture of the cash flow in his business on a simple spreadsheet showing historically where the cash comes from and where it goes.

Key Financial Mastery Issues – The Cashflow Budget - Part 3

By Action Coach Dave Beam

In the last two newsletters, we have looked at two fundamental money mastery concepts, cashflow and breakeven.  Today I want to get even more practical, and address how to make and use a cashflow budget.

I am going to assume that you already agree that it is essential to track and project your cashflow.  If not, give me a call and I will gladly provide a free coaching session – no kidding – and ask you some really interesting questions!!!

Profit Break-Even - Part 2

By Action Coach Dave Beam

Last week we considered the number one financial mastery issue, cashflow.  It is essential for you to understand the flow of money in and through and out of your business.  For some businesses, this can even be a daily issue.  Positive cashflow (more money coming in than going out) is essential to keep the business going.

Flying in the Fog – The Importance of Financial Mastery - Part 1

by Action Coach David Beam

Most of us have probably driven an automobile on a foggy night with low visibility.  There is really not much you can do but slow down.  But that is not an option when you are flying an airplane.  You are dependent on your instrument panel to tell you what is happening.  This is certainly no time to “fly by the seat of your pants”.  You need to know critical numbers like air speed and elevation.  Your system is telling you your position and helping guide you to a safe arrival at your destination.