069 Financial Excellence: Cash Flow Lessons Learned for Small Businesses

Episode 69: Cash Flow Basics for Small Businesses; Crap! I Got a Credit Card; Yakezie Challenge Update; July 19, 2011.
Today I intended to cover some lessons I learned about small business cash flow over the last few years. Before I got that far, though, I had to make a confession about an embarrassing new event in my life: I got a new credit card :(
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Show notes:
The Yakezie Challenge has been really good for our blog. I recommend any personal finance blogger give it a shot.
I am the (not so proud) owner of a new Kohl's Card. I didn't get the card on purpose but it's mine now and I own it. I explain the whole mishap on the show today.
The main topic of the day is cash flow for businesses. In the personal finance arena, cash is king. In small business, cash flow is king.
I explain the difference between cash accounting and accrual accounting, and why business owners need to know the difference.
Protecting your revenues are crucial to maintaining cash flow. Sales mean nothing if the customers don't pay.
It's crucial to do a cash budget and have accurate sales/revenue projections. Otherwise you have no idea if you're going to be profitable or not.
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