Welcome to The Clear PATH To Cash Podcast

In this episode, The Cash Flow Equation speaks to Martha Yasso, of Yasso Bookkeeping Solutions, to talk about the different definitions of cash flow and how this can be confusing to business owners. 

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Part 1: Content Notes:

Business owners, they don’t understand cash flow. Martha asked herself what cash flow means and found that there are different definitions depending on if you are an accountant, banker, or business owner. 

Accountants look to the past, Bankers look to the future, and Business Owners get stuck in the middle, worried about the financial statements in front of them. 

Cash Flow to Martha means  Revenue coming in , expenses coming out, cash balance, and what is often forgotten, time. These four pieces have to come together to truly understand cash flow. 

Part 2: Content Notes:

 Adding context around the financial analysis is crucial. 

Leveraging cash flow - the accountant bookkeeper is the bridge or interpreter and breaking it down into what the business owner knows and experiences. Use information in ways that they understand. 

Not in a huge goal but the small steps towards a goal. 

Martha brings up Path, and how it breaks down everything in an easy to understand way for business owners. 

Mike talks about keeping 3 - 6 months of cash in reserve of operating expenses. 

Martha’s advice is to get a good bookkeeper. Look for a relationship where you can say “this is the next step, how do I get there” or “I’m here, what’s the next step?”

Closing Remarks:

- Remember to go to CashFlowMike.com for all show notes and questions

regarding today’s episode.

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