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Struggling with Cash Flow? Here’s How to Take Control

Hi there fellow business owners, Have you ever wondered why your business struggles with cash flow, despite making a profit? In a recent webinar, I broke down the Business 101 Cash Flow Cycle to help you identify the key factors impacting your cash and profit. Here are three crucial insights: 1️⃣ Invest Wisely: Business assets …

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cashflow

Understanding the Difference Between Profit and Cash Flow

Hi there fellow business owners, Today, I’m sharing a quick video on the importance of understanding the difference between profit and cash flow in your business. These insights come from a recent webinar I hosted—let’s dive in. Turnover is Vanity, Profit is Sanity, and Cash Flow is Reality One of my favorite sayings in business …

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Understanding and Improving Your Business’s Balance Sheet

Hi there fellow business owners, Today, I’m sharing a quick video about the importance of knowing and understanding how to read the balance sheet in your business. This is crucial for assessing your business’s financial health. What is a Balance Sheet? Also known as a statement of financial position, the balance sheet provides a snapshot …

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profit and loss

Understanding Your Profit and Loss Statement: A Key to Business Valuation

Hi there fellow business owners, Today, I’m sharing a quick video about the importance of knowing the profit and loss (P&L) in your business. This is crucial for tracking your overall business performance. What is a Profit and Loss Statement? Your profit and loss statement shows all your earnings and costs over the year, providing …

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Mastering Your Trading Account: A Key to Business Profitability

Hi there fellow business owners,  I want to talk about the importance of understanding the numbers in your business’s trading account. This concept is vital for assessing your business’s performance and identifying areas for improvement. Understanding the Trading Account The trading account is crucial as it tracks your sales, variable costs, and gross profit. It …

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Dangers of Being A Discretionary Business in the Current Climate

Hi there fellow business owners, In today’s economic whirlwind, businesses reliant on discretionary spending face a unique set of challenges. Mick, from Ignition Accounts, illuminates the vulnerabilities of ventures operating outside essential services like groceries. The intersection of inflation, fluctuating interest rates, and consumer-driven choices forms the tempestuous landscape these enterprises navigate.   Vulnerability to …

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