Top Strategies for Building Profitable Cash Flow in Your Business

25 Feb 2024 · 0 min

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Short excerpt from a YouTube video (Charles Cormier) offering foundational business advice: prioritize generating cash flow (e.g., invoicing) and ensure that incoming work is actually profitable so it covers expenses. The speaker emphasizes two linked principles: get cash flow, and make sure that cash flow comes from profitable jobs.

So, therefore, the first principle you have to build your business on is, how the hell do I get cash flow? Now, the second one is, there's no point having cash flow if it's not actually profitable. Like, you still need to be making profit to cover all your expenses. So, therefore, the first foundation of your business is, I need to get cash flow. So, therefore, you need to do invoicing, and I need to make sure the jobs are profitable.