This content was created by Mike Andes. This content was uploaded by Mike Andes. This is a YouTube video titled "You Can't Think Clearly with a Negative Balance (here's how to fix it)" featuring a conversation with Mike Andes and other speakers discussing financial stress, business growth challenges, and strategies for overcoming negative bank balances.
Their negative bank balances. And, like, that's also where a lot of the stress is coming from. And a lot of times when I see someone making bad decisions, it's like I go back to their bank account and say, if that's negative, you can't think clearly.
Yeah, sucks, because we get big paydays and it's like, oh, we got 40 grand in the bank, and then that's Friday, and then Monday, like, we're overdrawing a thousand dollars.
And like, I remember when I had to borrow money from my brother, like, to make payroll and stuff. Like, you're not thinking. You miss all the opportunities, and you just get zeroed in on one little thing, usually because you can't help but, like, get super frustrated and, like, nervous.
There's only four real reasons why your business stops growing, and I call it the 4L framework. It's either because of liquidity, leads, labor, or leadership. And when you first get your business started, you need liquidity, you need cash, and you turn that liquidity into leads. How? By advertising. And then once you get a bunch of leads, you get a bunch of customers. You what? You need labor? Because we're in the home service industry, we actually go do the work. And once you get a bunch of labors, you need leadership to be able to run the business and be able to run it when you're not even there.
It's not a function of like, oh, we need to raise prices by 5 or 10%. Like, when we look at three years of basically negative bank balances, it is a restructuring. And so if you can trust me and take action on a couple of things, I do think it's salvageable.
