Episode 75

full
Published on:

30th Jun 2023

7 Deadly Cashflow Mistakes to Avoid

Do you have an accounts receivable process?

If you answered no, there’s bad news for you…

Because that’s the second thing on this list of cashflow mistakes to avoid.

The other 6 are covered in the episode.

Almost every business will encounter problems that are a result of poor cashflow at some stage.

And absolutely every business could be better at managing cashflow.

It’s really important because as a business, getting this wrong is basically oxygen deprivation.

You can’t pay your bills and your business dies.

Yes, that’s the extreme end of the scale…

But the problems are just as bad at the other end.

Getting this wrong could mean your margin is slipping through your fingers every time you finish a job.

Without you really knowing it’s happening, or why.

It’s a sickening feeling realizing there are holes where you’re literally leaking profit.

Thinking about how long it’s been that way, and how much you’ve lost already.

Let this be your sign to see where you stand.

Plugging the gaps is often simple.

But the simple changes in behavior will have a massive impact.

Whether that’s for your business, as it becomes easier to pay bills or invest back into the business.

Or for you, as you find it easier to sleep at night because you know where the money’s going, and that it's not disappearing.

 

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

  • An understanding of the ‘cash gap’
  • Mindset and strategy for success when collecting debt
  • Processes you can launch into your business to improve cashflow
  • Peace of mind that your cashflow isn’t being effected if you can check off each mistake on the list

LINKS MENTIONED IN THIS EPISODE:


Thanks for joining us this week. Want to subscribe to The Profitable Tradie Podcast? Have some feedback you’d like to share? Connect with us and leave us a review with a 5-star rating. If you think that’s too high, tell us why that is, we’d love to hear from you! Just shoot me an email with the word ‘PODCAST’ in the subject line to tony.fraserjones@profitabletradie.com

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for The Profitable Tradie Podcast

About the Podcast

The Profitable Tradie Podcast
For Trades & Contracting Business Owners Who Want More Profit, More Freedom, and Less Stress
If you run a plumbing, electrical, HVAC, or any other trades business and you’re tired of long hours, cash flow headaches, and pricing battles, this podcast is for you.



Join Tony Fraser-Jones and Phil Smith from Profitable Tradie as they break down straight-shooting strategies to help you make more money, work fewer hours, and get your business running smoothly—without the usual headaches.



We tackle the real challenges every trades business owner faces:
✔ How do I find and keep good techs when everyone is hiring?
✔ What do I do when customers don’t pay their invoices?
✔ How do I charge what I’m worth without getting undercut?
✔ Should I buy or lease my next truck or van?
✔ How do I get my crew to stop scrolling their phones and actually work?
✔ What’s the second easiest way to increase my profits? (The first is hitting play on this podcast!)



We also bring on some of the most successful trades business owners in the world—real people who’ve built multimillion-dollar companies—so you can learn exactly how they did it.



This isn’t just another business podcast. It’s your shortcut to building a highly profitable, well-oiled trades business that gives you more money and more freedom.



👉 Subscribe now and join thousands of tradies and contractors turning their businesses into profit machines.

About your host

Profile picture for Tony Fraser Jones

Tony Fraser Jones