Leveraging Cash
MP3•Episode home
Manage episode 390392929 series 3482081
Content provided by Jeff Sauer and Chris "Mercer" Mercer. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jeff Sauer and Chris "Mercer" Mercer or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Topics Covered In This Episode
- Leveraging Cash for Operational Improvements: The podcast kicks off by highlighting the power of cash in enhancing business operations, covering investments in systems, advertising, and employee retention as key areas of focus.
- Strategic Cash Flow Management: Mercer and Jeff delve into the importance of managing cash flow effectively. They stress the need for maintaining cash reserves to address unforeseen challenges, challenging the notion that cash is merely an expense, and emphasizing its role as an investment for long-term growth.
- Optimizing Cash Flow and Payroll: The podcast advocates prioritizing a 3-month reserve account to ensure stability in handling unexpected expenses and payroll. It explores lessons learned from past investment mistakes and delves into how payroll structure can impact team performance and overall growth.
- Smart Cost Savings through Prepayment: Strategies for saving money, such as prepaying annual expenses and negotiating vendor discounts, are discussed. The financial advantages of forward-thinking approaches are highlighted.
- Leveraging Cash Reserves for Strategic Growth: The podcast explores the concept of overfunding a reserve account to provide founders with financial stability and leverage for future expenses. It touches on the importance of personal financial comfort and investments in higher-risk assets.
- Investing in Business Efficiency: The podcast underscores the significance of investments in AI and automation tools to enhance business efficiency and forecasting accuracy. They emphasize the role of proper tax planning, including the involvement of a CPA and bookkeeper, for financial stability.
Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=xnykxp5n
67 episodes