Episode 45

full
Published on:

2nd Dec 2022

How Profitable Businesses Go Broke And How to Avoid It Happening to You.

To download your Profitable Tradie Cashflow Forecast template, CLICK HERE.

Cash is oxygen for your business. Without it you can’t pay your bills and you go broke.

Not knowing how much you’ve got coming in and going out is really risky.

That’s why this week Phil and I are going to show how to create a forecast that’ll help you smooth out your cash flow headaches.

It only takes 60 minutes to fill out. And will save you a lot of stress. 

Because when you know your cash flow, you’ll not get nasty surprises when your account hits $0.

And you’ll avoid the roller coaster that happens when your emotions are tied to your bank balance.

Plus you won’t find yourself making promises you can’t keep (like promising to pay people when there’s no way you can).

Believe it or not, having a good cash flow forecast can stop you going broke even if you’re running a profitable business (I’ve seen it happen many times before).

Let’s get into it…

WHAT YOU’LL GAIN FROM IMPLEMENTING TODAY’S PODCAST:

  • You’ll be proactive and planned
  • Take the emotion out of the bank account because there aren’t surprises
  • Keep your promises about payment
  • A whole lot less stress as you’re on the front foot with your cash flow.


LINKS MENTIONED IN THIS EPISODE:



This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy
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About the Podcast

The Profitable Tradie Podcast
How to build a profitable Plumbing, Electrical or similar business that gives you the time, money and freedom to enjoy life.
Are you the owner of a Plumbing, Electrical, or similar service business and looking to increase your profits and regain your freedom?


If you answered yes to any of the above then follow/subscribe now, this is the podcast for you!

Presented by Tony Fraser-Jones and Phil Smith from Profitable Tradie. We dive into what it takes to build a profitable trades business that gives you the time and freedom you deserve.

We touch on topics like...
- How to hire decent tradespeople.
- What to do when clients don't pay their invoice.
- How to get around people beating me down on what I charge.
- Should I buy or lease my next van/truck?
- How to get my team to get off their phones and be motivated for work.
- The second easiest way to increase your profitability.

Along with sharing a ton of free resources so you can get started on what we're discussing right away!

We also talk with some of the world's most successful trades business owners and learn how they took their businesses from mediocre to multimillion.

In short. We don't know what we don't know.

Subscribe/follow now and join the global community of Profitable Tradie

About your host

Profile picture for Tony Fraser Jones

Tony Fraser Jones