"So what you’re telling me is that we have never made money?"
This was an actual statement from an actual entrepreneur that was not happy with our conversation. Everything I was saying was not making sense to an entrepreneur that had money in the bank, a house, cars and investments all paid for by his business. The problem was his business had never actually made any money. The business owed more to creditors that it was expecting to receive from customers and had negative equity on its balance sheet. Basically, all the personal wealth that this entrepreneur had was from the creditors in his business including the government, vendors and his bank. Cash flow does not mean profit and this entrepreneur was about to discover how big a hole he had dug.
Read the blog here: https://dylangallagher.wordpress.com/2018/10/30/1-mistake-every-entrepreneur-is-guaranteed-to-make/
LinkedIn: http://www.linkedin.com/in/gallagherdylan
"music: City - Ikson"
How to buy a business - Part 1 of 3
Growing a business for the sake of growing a business
What is the difference between profit and revenue?
Building wealth as a small business owner
How money works for small business owners
How to unlock cash in your business by investing in yourself
What should business owners invest in?
Who is your perfect customer?
Entrepreneurs! Cash is NOT Profit
Coinbase, Netflix and the 80/20 rule for business owners
Why own a business
Creating value versus consuming value
Cash Flow Quadrant, multiple sources of revenue and burying your head in the sand
dylan’s updates May 17, 2022
dylan’s updates May 10, 2022
dylan’s updates May 3, 2022
dylan’s updates April 26, 2022
dylan’s updates April 19, 2022
dylan’s updates April 12, 2022
dylan’s updates April 5, 2022
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