Solving The Cash Flow Crunch │Ep: 280 Tyler Jefcoat
Small Business Answer Man
English - May 29, 2023 08:30 - 27 minutes - 20.4 MB - ★★★★★ - 41 ratingsBusiness Education businesscoaching habits mastermind mentor business businessowner charge chargepodcast culture employee Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Tyler Jefcoat is the Founder & CEO of Seller Accountant where he exercises his passion for helping sellers maximize their businesses. He provides financial coaching for sellers totaling more than $100 million per year in e-commerce sales. Tyler also leads the Sellers Roundtable, an exclusive mastermind group for seven- and eight-figure sellers. Before founding Seller Accountant, Tyler was the Co-Founder and Managing Partner for Care to Continue, a home healthcare company that grew from zero to 100 employees in four years.
What problem do you solve?The cash flow crunch! How to get money and keep it.
Show Notes: Many of today’s business owners have never run a business in a bear market. Times like right now make companies look closer at the numbers. Even though things are more difficult right now, it is also a time of great opportunity. If you can work through the challenges now, you will be set to make great gains. Our financial data will tell a story so that you can make good strategic choices. For your number to tell you this story, you have to have correct numbers. It’s important for you to believe your numbers even if they aren’t good news. Looking at your numbers should lead you to take action – especially when they are not favorable. Every business has 4-6 KPIs that give you a good summary of how you are doing. If you look at these KPIs every week, you will know how your company is doing. Just take 20 minutes a week. Winners are carving out time to look at their numbers weekly. It’s not enough to have sales. Those sales need to translate to profits. Also if you want to win, don’t neglect looking at their cash flow statement. Build this into the weekly rhythm. Ecommerce can give you the opportunity to do a natural pivot to something you have a special interest in or ability for. You should make sure you cash flow is working. It’s a bigger deal to run out of cash than out of stock. If you run out of cash the business is dead. If you run out of stock you just tell your customer that the delivery of the product or service is delayed. Tyler Jefcoat’s Best Small Business Tip:Find a tribe or mastermind because it’s lonely being an entrepreneur. Also, find a coach. The best athletes have a coach and as a business owner you can benefit from coaching too.
Connect with Tyler Jefcoat:Tyler’s podcast: Return on Podcast
Website: selleraccountant.com
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