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Making vs. Managing Money
Manage episode 424484292 series 3553237
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In this episode, we explore the crucial difference between making money and managing money as an entrepreneur. We discuss various strategies for boosting revenue, such as increasing sales, diversifying revenue streams, and adjusting pricing. However, we also emphasize the importance of effective financial management, including budgeting, cash flow management, expense control, and investment planning. By finding the right balance between income generation and financial management, entrepreneurs can build resilient and sustainable businesses that are prepared for both short-term challenges and long-term growth.
- (00:00) - Introduction to Entrepreneurship and Money Management
- (01:31) - Ways to Increase Revenue
- (02:10) - Understanding Market Opportunities and Adjustments
- (03:01) - Boosting Revenue: Strategies and Considerations
- (05:00) - Managing Incoming Revenue
- (05:19) - Budgeting and Cash Flow Management
- (06:03) - Expense Control and Investment Planning
- (08:29) - Balancing Short-Term and Long-Term Financial Goals
- (09:56) - Setting Financial Goals and Measuring Success
- (11:08) - Lessons from Littlefish: Practical Insights
- (13:25) - Final Thoughts
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