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8: Profit vs. Cash Flow vs. Cash on Hand — The Differences You Need to Know to Reach Your Goals
Manage episode 419610545 series 3556797
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Do you know the difference between profit vs. cash flow vs. cash on hand?
You might have looked at your profit number but then wondered why your cash isn't saying the same thing.
You're seemingly profitable but you're continuously running into depleted or nearly depleted cash.
Profit, cash flow, and cash on hand are all different things and as your business grows and gets more complex with your income sources and expenses, it’s not enough to just know revenue and expenses.
In this episode, you’ll understand what your profit margins should be for different aspects of your business so you can create the cash flow you need to sustain your business. You’ll also learn why understanding your cash flow is how you’ll be able to increase your cash on hand, which allows you to have business savings, pay off debt, and pay yourself more.
05:38 — Why you need to know your profit numbers more than revenue numbers
07:07 — Understanding your profit margin and where it should be
08:32 —🖥️ Screenshare: Visualizing Your Revenue, Direct Costs, Operating Expenses, and Profit Margins
11:04 — What you need to understand about cash flow and how it determines your cash on hand
13:06 — 🖥️ Screenshare: Visualizing Your Starting Cash, Incoming and Outgoing Cash, and Cash on Hand
16:26 — How to use the connection between profit and cash on hand to reach your business, lifestyle and legacy goals
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Email Series - Heal your relationship with money and grow wealth through your business. Each week you'll receive tips on how to face your money, improve your profit, manage the money you have and, more importnately, harness the wealth within through your faith.
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
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