Subscribe on These Platforms:
Most small businesses fail because they no longer have the cash to continue. And if you're growing a business, you've got to keep everybody on the same page and have the tools in place to drive extreme clarity.
In this episode, we're going to talk about how to master cash predictions through budgets. As a business owner, you have to get good at predicting. By putting the right systems and processes in place, you’re able to make more accurate and faster predictions, especially that predicting cash through a budget could be painful the very first time you do it.
We have been doing the Entrepreneurial Operating System (EOS) for more than 18 months now and we're six quarters in. EOS is a powerful operating system based on the book “Traction” by Gino Wickman. It talks about five leadership abilities in growing an organization, and one of them is getting really good at predicting – be it in finance, cash flow, and even with tax. Although you never know what will happen until you get there, you have to predict, at least, based on some assumptions that will drive and create value in your organization.
Through the power of the EOS and how it has helped us evolve as leaders and owners, we now understand that the greatest skill and value we can bring to our organization is the fruit of predicting well. Predicting is the way to drive and create value in your organization – and your finances are no exception.
In this episode, you will hear:
- Why predicting is important in your organization
- Creating containers for financial success based on parameters or prediction
- The volatility of predicting sales
- The biggest lesson of collaboration
- The power of intentionality and focus
- Mastering predictions through budgeting
Subscribe and Review
Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet.
We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
Don't miss an episode! Join our newsletter list!
As a thank you, we're going to send you our Top 50 Tax Deductions Cheat Sheet!
Keep more of your money & learn our Top 50 Tax Deductions and the details to legally create potential income tax savings right now.