Podcast Episode #25
If you’re like many small business owners, the financial aspect of your business probably intimidates you the most. Not every business owner is a financial expert after all. The good news is you don’t need to be one to keep your cash flow in order. Trent’s simple 7-step cash flow management process will help you spot trends, identify leaks in your business, make accurate future projections, and keep your business financially strong.
Trent Taylor is a global award-winning business growth and leadership trainer/coach whose 2 simple rules are; 1) Be curious, and 2) be congruent (practice what you preach). He is tough on clients because they have given up on themselves at some level and one thing he will not stomach is low self-esteem and self-worth. He is also an advisor to many different businesses because he keeps it simple, talks the language of who he is talking to, keeps it fun and can see the big picture of why things are happening – quickly.
Trent has coached hundreds of businesses who are frustrated with how much time they put into the business while pulling not enough cash-out and turned things around so they work less, have more time with their children and triple the cash in their business/life. He also created The Business Spine Coaching methodology which he uses himself as it has helped him live a business life where he works no more than 3 days a week, 33 weeks a year and makes a minimum of $333k of cash.
He did not have to market himself seriously for 13 years as his referral and word of mouth has provided him with more than enough business opportunities. He trained franchisees in 3 franchises to become business people as opposed to just technicians who can just deliver the product they sell. And he has advised hundreds of business owners on high performance, leadership and business groups.
Trent Taylor is a husband to a beautiful, kind and creative woman who is passionate like no other about home education of their children. He is a father to two energetic boys and his little princess daughter, who have a crack at anything and love being outdoors.
Managing Cash Flow for a Financially Strong Business
1. Check your opening balances
2. What expenses are you going to have?
3. Track against previous months
4. How am I going against my budget?
5. What assumptions have I made?
6. Update your cash flow and make changes in advance?
7. Have someone external look at your cash flow!