In This Episode
We’ve boiled down the focus of our coaching business to what we call 7 Keys to Success. One of those Keys to Success that can dominate all the others is #6 on our list, Cash Flow Forecast. If you have cash concerns a a business owner, nothing else will matter until you have that cash issue figured out.
The “cash” issue can come up in a lot of ways. It could be vendors pressing you for payment, payroll coming due at the end of the week, or the impending tax bill. Whatever is causing the cash pressure, until you find an answer to solve it, you won’t be able to be the leader of your business that your team needs.
In tonight’s show, we provide some insights and ideas into ways you can find cash for your business. We start with some pretty basic ones that most people think about and have tried, banks and/or investors. But we then get into some more creative ideas about ways to utilize competitors and/or vendors to help fund your business. We even touch on ways to tap into some of the assets on your balance sheet to find alternative ways to raise money including the sale of some assets or even looking into factoring your receivables. You could even look online and set up a crowdfunding page (e.g. GoFundMe) or tap into your personal IRA.
Whatever cash pinch you might be feeling now or anticipating, tonight’s show will give you some ideas and answers for how to find money for your business.
People, Companies and Resources We Mentioned in the Show
- Shark Tank (http://abc.go.com/shows/shark-tank)
- Dino’s III (http://www.dinosrestaurants.com)
- Black Bear (https://blackbeardiner.com/location/goodyear/)
- Jerry Maguire (http://www.imdb.com/title/tt0116695/)
- GoFundMe (https://www.gofundme.com
Podcast: Play in new window | Download