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035: Gift Yourself Financial Freedom - A Tradies' Christmas Guide to Cash Flow and Profit
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Managing cash flow is a major challenge for many trades businesses, especially as they head into the new year. Issues arise because entrepreneurs lose financial focus during their busiest season in the latter months of the previous year.
In this episode of Profit First For Tradies, we learn how to gift yourself financial freedom - a tradies' Christmas guide to cash flow and profit.
With Christmas right around the corner, it's easy to prioritise completing jobs over financial management. However, ignoring bookkeeping and invoicing can spell disaster by the start of the new year.
To help tradespeople avoid this common pitfall, Katie recommends three key actions - implementing Profit First, optimising bookkeeping systems and carefully planning the rest of the year.
In this episode of the Profit First for Tradies, you’ll learn the following:
- The importance of focusing on your numbers NOW (02:00)
- The value of implementing Profit First in business (02:42)
- Why you need to review your bookkeeping system (03:48)
- Planning for the rest of the year (06:03)
You have the power to transform financial futures with focused effort before the busy holiday crunch. Implementing Profit First along with the other recommendations can help trades businesses start the new year off on the right financial foot.
If you haven’t listened to our previous episode about Crafting a Profitable Future- Tradies, Bankruptcy, and the Power of Profit First, check out Episode 034.
QUOTES
"Everything I do with clients has to be simple and efficient. My brain can't function if there are too many steps. I will make sure that we can get the outcome in the shortest possible steps." -Katie Crismale-Marshall
"I'm finding more people struggling with business in general and it's not getting any easier. One thing we can all control is what we do about it, put our hands up and ask for help." -Katie Crismale-Marshall
Resources
CONNECT WITH KATIE CRISMALE-MARSHALL
- Email: katie@profitfirstfortradies.com.au
- Website: https://www.profitfirstfortradies.com.au/
- YouTube:https://www.youtube.com/@profitfirstfortradies9503/featured
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