In order to win financially in business, you must focus on your finances. Where focus goes, energy (and I’ll even add success and improvement) flows. What often happens is that the CEO is wearing several hats and something always falls through the crack. That something is often the financial department. Even if you are operating a one-man business, you have a financial department.
The mistake that business owners often make is thinking that they can manage their finances alone. However, once you cross that six or seven-figure mark you need someone that can laser focus on your finances without distractions. At that earning stage in business, it’s not just about earning revenue, you must also laser focus on increasing cash flow and boosting profit margins while reducing tax liabilities. In this episode, I outline the four key financial areas you should begin to focus on today.
Check Yourself Moment
Have you recently paid a higher than normal tax bill? If so, the reason could be due to your business structure and your lack of maintaining a cash flow management system.
Profit Power Closing Quote
"Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better." ~Jim Rohn
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