Welcome to another episode of Get Your Shift Together! In our last chat, we explored where your cash might be disappearing. Today, we're taking the next logical step: making that cash move more efficiently. It's a common frustration I see with business owners – your sales are strong and profits look great on paper, but your bank account tells a different story. This often leaves you feeling stressed and confused, constantly chasing payments just to keep things afloat.

The core issue is that profit and cash operate on different timelines. Profit is recorded when you make a sale, but cash only hits your account when you actually get paid. That gap is where the trouble starts. In this episode, I'll walk you through why this happens and introduce three practical fixes to clear the cash flow jam. It’s not about luck; it’s about building solid habits and systems. I’ll guide you on creating a simple forecast to see what’s coming, tightening up your payment cycles to get paid faster, and establishing weekly habits to maintain control. It’s time to stop running on an empty tank and build a calmer, more stable business.

Key Takeaways:

1. Profit is Theory, Cash is Fact: You can't pay your bills, suppliers, or staff with theoretical profit. The actual cash in your bank is the fuel that keeps your business running.

2. Start a 13-Week Rolling Cash Forecast: You don't need complex software. A simple spreadsheet tracking expected income and outgoing payments on a weekly basis will give you the clarity to anticipate gaps and surpluses.

3. Shorten Your Cash Conversion Cycle: Implement strategies to get paid faster. This includes sending invoices immediately, taking upfront deposits (especially for jobs requiring stock purchase), and negotiating better payment terms with your own suppliers.

4. Be Consistent with Credit Control: A structured and consistent approach to chasing overdue invoices is crucial. Don't let it slide; timely follow-ups can significantly improve your cash flow.

5. Build Good Weekly Cash Habits: Dedicate just 10-15 minutes each week to review and update your cash flow. This regular check-in helps you stay on top of who owes you money and what payments are due, preventing small issues from becoming major problems.

Download Free Cash Flow Template :

Want to fix your business? Join The Business Fix With Nicola

Here's what you'll receive when you work with Nicola J. Barnett to get your business on track.

• A Proven Framework: Use the Efficiency & Profit Framework to end overwhelm, get cash flowing, maximize profits, and build a business that won't break you.
• Clarity and Control: The first step is a "Financial Awareness Review," where Nicola will dig through 12 months of your financials to give you the truth about your business and create a 90-day roadmap.
• Hands-On Implementation and Transformation: In "The Business Fix" program, you'll get structured action and accountability to turn awareness into fast results. This will help you fix cash flow leaks, improve profits, and implement smooth systems.
• Full Support for Deep Transformation: For those needing a complete overhaul, the "Survive to Thrive" program offers hands-on support to rebuild your business from the ground up, giving you predictable cash flow and sustainable profitability.
• Ongoing Momentum & Accountability: With the "Strategic Advisory Partnership," you get monthly focused strategy sessions to ensure your progress sticks and your business continues to grow on solid foundations.

Learn More about the Profit & Efficiency Frame work & For a deeper dive into this topic and more, visit our website: p...