The old saying “the numbers don’t lie” applies to all businesses.
It’s a critical factor to monitor exactly where the company’s money is going. Unfortunately, most business owners don’t understand their numbers or their cashflow situation, hence it leads to business failure.
In this episode, Samantha is joined by Octavia Conner from ‘Say Yes To Profits’. Octavia shares why knowing your numbers helps you manage your business better, and where exactly you find these ‘numbers’.
Through her real-life client scenarios, Octavia gives an insightful conversation on the benefits of consistently tracking financial reports, having financial clarity, and ways to increase cashflow.
If your business is barely surviving to make ends meet, you’ve been constantly operating in debt, or you can’t figure out where your cash is going, this episode is for you.
Let’s enter the lab.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
- The definition of profit (02:34)
- The money/number reports we need to be looking at (03:35)
- How often should you monitor your reports (04:45)
- The benefits of having financial clarity (07:39)
- Which KPIs you need to track (09:32)
- Closing the cash gap (13:27)
- How to create a better pricing formula for services (15:00)
- Red flags that are not allowing your business to grow (18:55)
- Ways to increase cashflow (22:37)
Octavia Conner is a financial consultant specializing in outsourced CFO and tax services. With a focus on profitability, her firm Say Yes to Profits has built a track record of helping over 90% of its clients grow between 30% and 350% within a year and reducing their tax liabilities by 60% or more. Octavia has over a decade of experience in accounting and finance and was selected as a top 50 accountant in North America.
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