An 8-Figure Business Almost Missed Payroll - Here's How

Keep What You Earn

Content provided by Shannon Weinstein. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Shannon Weinstein 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://podcastplayer.com/legal.

3M ago 8:48

MP3•Episode home

In this episode, I dive into a real-life cautionary tale about an eight-figure business that unexpectedly faced payroll issues despite being highly profitable. I share insights on the critical difference between profit and cash flow, and highlight how blind spots in cash flow management can create significant challenges for even the most successful businesses. Through this client's experience, we explore the importance of weekly cash flow forecasting, the necessity of strict collections processes, and how to ensure you maintain your financial commitments.

Learn how to optimize your cash flow and prevent severe financial pitfalls in your own business by adopting effective strategies for managing invoicing, collections, and payroll schedules. Tune in to uncover practical tips and transformative insights that will help you create a business that not only scales but sustains its financial health.

What You'll hear in this episode:

[00:50] Profit vs Cashflow: A Real Client Story

[02:20] The Importance of Cashflow Forecasting

[05:15] Improving Collections and Cashflow Management

[07:25] The Importance of Having Protocols in Place to Manage Cash Flow Even When Clients Do Not Pay on Time

If you like this episode, check out:

Are You Sabotaging Your Own Cash Flow?

Start with This Financial Metric (Financial Priority Formula Part 1)

Cash Management Strategies

Want to learn more so you can earn more?

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

788 episodes

#MBA #Entrepreneur #Business #Shannon Weinstein #Taxstrategy #Accounting #Financialstrategy #Moneymindset #Scorp #Tax #Taxsavings #Bookkeeping #CFO #LLC