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Finance Fight Club

Make more money in 10 minutes...

Published about 1 year ago • 2 min read

Outsourced CFO Support that grows your cash and your confidence

Hi Reader,

Want to take home more money instantly? Yea me too...

Seriously though, here's 2 quick wins you can do when looking at your P&L (profit & loss or income statement):

  • Check for unnecessary spending in software - I guarantee you, you have at least one software subscription your not using that needs to be canceled. We do this for our clients on a regular basis, usually once every 6 months or more frequently if needed.
  • Look for other money leaks.
    • Common ones I see: food, office supplies, snacks, marketing $ that don't have an ROI (don't cut the things that are working!!), and payment fees due to bad systems

Far too many business owners focus solely on revenue and don't pay attention to net income / profit / EBITDA or more importantly their own owner compensation and then get stuck in a bad cycle of wasting money.

Here's my challenge for you today:

  • Review the last 3 months of your P&L and find 2 things you aren't using or aren't driving revenue and cut them TODAY. Don't wait - you will forget and keep waisting that money.

NEW TOOL SPOTLIGHT:

(Not sponsored) I came across a new tool this month while attending WAVE Seattle produced by my friend Erin Pohan:

​Anchor. I did a demo with their team last week and was pretty blown away how easy it is and how much friction it removes for clients.

​Anchor is something I wish I had 3 years ago. You can build proposals, contracts, and payments all in one tool. All credit cards fees are passed to the client and you can set-up auto fee increases each year and seamlessly adjust terms and conditions. If you use the link above and sign-up you get a free $50 (equal to 10 free invoices).

I plan to test it out in June and report back. If you test it - send me a quick note and let me know what you think. It's free to set-up and you only pay when your invoices get paid.

Enjoy your summer!

Financial confidence isn't about knowing everything - it's about knowing enough to make good decisions for YOUR business.

-Natalie

On the blog...

How Much Cash Should a Small Business Keep in Reserve?

Why Cash Reserves Matter

I could list about 10 stories off the top of my head where cash was a make or break moment for a business. Probably closer to 100… business is ALL about cash. I don’t even know what to write because it just matters. How do I explain that?
​

Kidding...

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Finance Fight Club

Finance is not rocket scienceSadly, it’s become this mysterious field for small business owners like yourself. And it keeps owners in the dark from making their best choices for their businesses. My love for finance started when that light bulb turned on. Finance is not bookkeeping or taxes. Finance is making good decisions, which requires good financial analysis and controls. You cannot be strategic in your business without first understanding your numbers.That’s when I decided to bring my CFO-type skills to small businesses. To help owners become leaders, by integrating numbers into their daily choices and busting the myth—that finance is rocket science. it isn’t. Ready to make choices based on data, not hunch? Ready to feel in control of your business? Ready to grow revenues & increase profits? With confidence?

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