You can outsell a lot of your problems. Eventually, however, you'll reach a point where you win or lose based on how well you do cash management and projections. The purpose of this section is to help you understand how to start thinking about getting you financials in order.
This is super important! Once you fire yourself, you'll be running your business on dashboards or trying to sell to someone who will want to know all this. Good financials and systems to keep them that way directly result in increasing your valuations and your operational efficiency.
Know your money to get more money.
In this lesson, we will dive into learning what kinds of financial systems you will need and how a back of the napkin valuation works.
We will focus on Cashflow and Valuation and I will leave the more complex systems to the professional CFOs and Controllers out there.
Part of the valuation process is detailing your systems and leadership. This should have been addressed with your business continuity plan and your future org chat lessons. Feel free to go back and refresh those documents based on what you learn here.
If you decided to use the Profit First methodology please go buy one of Mike's books and watch his talk on how to implement Profit First.
Profit First With Author Mike Michalowicz (Full Presentation) | PrintHustlers Conf 2019 - https://youtu.be/X_ewZ-Ni3EA
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