Cash Flow For Beginners: How To Make Sure Your Business Doesn't Lose Any Money
Improving cash flow is a smart move for any business. It doesn’t matter how great your business model is or how profitable you are. If you’re looking for one area to focus on that will have a dramatic impact on your business, this is it.
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One of the biggest reasons that businesses fail is poor cash management. This is probably why Warren Buffett and many other successful investors prefer to measure a company's performance by their cash flows rather than simply by their earnings numbers. So in today’s video I’m going to help you see into the future so that you can make better financial decisions. I’ll take you through the basics of cash flow management, teach you how to prepare a cash flow statement, and give you a crash course in accounting 101.
These basic concepts can be applied to Shopify Store or any business. Anyone can do it. Take the time to get organized now, and it’ll be easy to stay on top of it. If you haven’t already, don’t forget to grab your free cash flow template below.
Here is what we’ll cover in this video:
00:00 Cash Flow Forecasting For Shopify Stores
00:45 Accounting Explained
01:17 Cash Flow Statement Basics
01:55 Accounting 101
04:34 The Two Methods Of accounting: Cash Basis Accounting Vs. Accrual Basis Accounting
05:53 How To Manage Cash Flow
07:54 How To Read A Cash Flow Statement
11:26 Things That Hurt Cash Flow
12:04 How To Improve Cash Flow
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► We've put together a cash flow forecast template to help streamline the process and save you time and stress.
Download it now: https://bit.ly/2JuMd57
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►Give your business a financial health check with Shopify's cash flow calculator: https://bit.ly/36kXbTG
-- RESOURCES --
► Cash Flow Management: Why Cash Flow Can Be Even More Important Than Profit: https://bit.ly/36mlWyC
► How Financial Planning Can Help You Achieve Your Business Growth Goals: https://bit.ly/2VlAlVH
► Bookkeeping 101: How to Keep Records for Your Small Business: https://bit.ly/3o4IxWs
►Basics of Small Business Accounting: 12 Steps to Get Your Company on Track: https://bit.ly/39uelQQ
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