If you run a service business or creative agency, then you spent the majority of this year developing new ways of doing business to stay connected to your customers, managing remote work environments, and implementing new technology — all while making a profit to keep your business afloat. With so much uncertainty, it's never been more critical for business leaders to master their ability to create cash flow and manage expenses.
Traditionally, companies rely on historical data to dictate future decisions. We have quickly learned that history doesn't matter and to instead focus our attention on understanding what's happening in the business day-to-day. To truly drive your business forward, focus on the foundation of profitability — cash flow and expense management.
In Book Two of our eBook series, we delve into actionable steps business owners can take to master cash flow and expense management to grow their business. A few steps we'll explore include:
- Making Costs Visible: Profitability can't be achieved without knowing or closely monitoring your costs.
- Understanding Your Cash Flow: An uncomfortable reality is that service businesses often run on negative cash flow. Monitor cash flow and protect your resources.
- Creating Alternative Streams of Revenue: Advance your business with online products and services to reach a wider audience.
Download the entire eBook today for more steps you can take to master cash flow and expense management.