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You are here: Home / Business Mastery Notes / Cash Management

Cash Management

March 8, 2023 By Jeremy Shapiro

The most recent session of our Business Mastery Program continued into Cash Management as part of Module 6 on Financial Management. Here is what we touched on from my notes during our session:

  • “Never take your eyes off the cashflow, because it’s the lifeblood of your business.” – Richard Branson
  • The difference between Cashflow and Profit
  • Calculating Cash Position (i.e. How much cash you have)
  • How frequently to review your Cash Flow
  • What your bank account can tell you
  • When Dips and Bumps are okay – and when they’re a cause for concern
  • Why you can’t save your way out of a cashflow decline
  • How to easily – and stupidly – bring your expenses to zero
  • When to focus on managerial bookkeeping (vs. financial bookkeeping)
  • What kind of financials to use for decision making
  • Time period based reporting vs. snapshot in time reporting
  • Understanding Cashflow reports – and how cash positions, cash inflows, cash outflows, and non-operating related cashflows are used in the calculations
  • Where inventory plays into Cashflow reporting
  • The Language of Business
  • What “Sleep at Night” money is – and how to get it
  • How the money you have isn’t dollars – but time
  • How to figure out the right amount of cash balance to have in your accounts
  • The differences between required balances, safety balances, and excess balance
  • How to pay dividends out correctly – and what money to never touch
  • How to take seasonality out of a business with regular cash builds and cash requirements
  • The #1 Rule in Growth
  • How to balance Expansion with Revenue
  • Strategies to improve your Cash Position
  • What to sell, what to pay, and what to collect
  • “Rule Number 1: Cash is King” – Jack Welsh

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