A short YouTube clip (conversation between 'Nick' and another speaker) giving practical financial advice for running/launching a fashion brand. Key advice in this snippet: keep a monthly profit & loss (P&L) statement visible so you can see the numbers clearly and avoid doing unnecessary or low-value tasks.
All you need is, like, the P and L every month put in front of you so you can see the numbers in black and white. You don't want to be doing all.
The crappy stuff to get to that.
Yeah.
I think it's more than that though, as well, Nick. Because I used to have, like, management accounts even when shit went wrong, but it was never. It's about looking around corners. You could be fucking really profitable brand. Yeah. And still have cash problems, which no one talks about because you buy too much stock. You don't think about a VAT liability, whatever it is. I was running it off, just cash in the bank. Like, if the bank was going up, I was like, we're chilling.
