Welcome back, it’s Stephen Hunt – Managing Director of Hunt Hospitality International.
Today I’m going to be talking about Cash Flow. Cash Flow is crucial for your business.
For those of you who don’t know much about Cash Flow, I suggest you talk to your accountant or your financial advisor straightaway! You need to get on top of when your income is due in and your expenses are flying out. Cash Flow covers off on everything that happens in your business.
That’s when your supplies get paid. That’s when your revenue comes in. It’s when your taxes are due. It covers every single aspect of your business. It is absolutely crucial to know how you are tracking in terms of money in the bank. A lot of people focus on the profit and loss. Profit and loss is really, really important. But it doesn’t tell you that you have to pay $50,000 to revenue this Friday.
Cash Flow is really really important if you want to look up an absolute expert and a person who is all over cash flow: Keith Cunningham. I saw Keith speak at a Tony Robbins conference once and Keith was outstandingly hilarious, but he could not articulate the importance of knowing your Cash Flow better than anyone I’ve seen. He was fantastic. Look up Keith Cunningham if you have a moment!
That’s it for me! Contact me on the details given. Thank you!