Money & Your Business (Business Finance) - Tom & Ariana Sylvester

Money & Your Business (Business Finance)

May 21, 2018 | Podcast

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Don’t let fear of money cause you to lose money and add stress to your business. In this episode, will help you understand your business finances, avoid common money probems, and establish good money habits.

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Key Insights & Timestamps

  • [00:54] – Welcome
  • [07:00] – What are your business finances?
  • [09:13] – Understanding different areas to track
  • [10:00] – Cash flow in and out
    • This will be your overall budget plan
  • [13:53] – Revenue vs. Profit
    • Often referred to as Top line and Bottom line
  • [23:03] – Balance sheet
    • A basic snapshot of where your business is at now
  • [27:31] – Common money problems
    • Not knowing your cash flow pattern
    • Realizing upcoming expenses too late in the year
    • Profit margin is not high enough
  • [33:49] – Search your business online for an average profit margin – this will help you know if you’re on the right trajectory
  • [36:54] – Good money habits
  • [42:10] – Your Homework
  • [45:22] – Tom’s Bookshelf

Your Homework

Ariana’s Homework

  • Snapshot your business right now, run all reports and get clear on your present money moment. If you have not set up any tracking, start today!

Tom’s Homework

  • Once you have your snapshot, write down any questions you may have. Think about scheduling a free Discovery Call to go over financial issues and questions from your list.

Tom’s Bookshelf

Finance Without Fear

Finance Without Fear Workbook

Get This Book

  • Audible – Get Your First Audiobook Free!
  • Amazon – Get The Physical or Kindle Version

Get This Book

  • Audible – Get Your First Audiobook Free!
  • Amazon – Get The Physical or Kindle Version

Key Insights

  • Understanding your finances and the role this will play in your business
  • Discover common money problems and the ways to combat them
  • Learn how to establish good money habits

Free Guides For You

Plan With Purpose - The Ultimate Guide to DEfining & Building Your Ideal Life

Invest In Yourself - When, How & How Much to Spend to Grow