Reading The Report
Understanding How to Increase the Cash Flow
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The objective of this exercise is to probe deeper into the Net Worth Profile. Keep in mind this can be used for personal or business use and should be used for both. Use the RED Links
In the business world ratio’s in comparison to your market will vary. I have attempted to give you a national average, so different communities will reflect differently.
Dream Big… is the all-encompassing view that you have for yourself in this lifetime. The quarterly plan will help you stay on task to achieving your goals. Yes, this will take a bit to get going but once you do, your vision and daily activities will become so focused you won’t even realize it was a chore to get started.
“Love What You Do.”
Are your accounts receivables to high? When in business, invoicing your customer as early as possible is key, and in completion stages whenever possible. Take advantage of terms offered by the customer, and stay on top of collections. Accept alternative payment types, and get deposits up front, also help. As individuals make it cash and carry sale.
Reduce un-necessary expenses. If you don’t need it or not using it, get rid of it. Do you have extra office space you can rent out? Do you really need a new vehicle? Waste is all around us and reducing it puts money back into your pocket. Invest this extra cash into your future.
Monitoring Your Success
Monitoring Your Efforts
In a previous chapter you gather information to determine your net worth. Now use the RATIOS to see what they mean to you.
Also use this link above to better understand what the ratios are telling you.
Use this as your baseline and track your results, at the very least as a quarterly activity.
Making A Viable Plan
Here’s where your creative side gets to shine… DREAM BIG.
Write down where you want to be in 2 years, and 5 years. Put this somewhere you can see it regularly. Otherwise it become the adage of “ Out of Site Out of Mind”.
Structure to accomplish your goals
Use the attached worksheet to create your Quarterly Plan. This will help keep you on task to reach your goals and achieve your DREAM.
If you didn’t finish a task in this quarter carry it forward. If this continues more than 2 quarters, hire a coach to help you stay on task.
This is not just about cash flow here. This is meant for all activities and ideas. It will also help your key people or team stay focused. As the owner you can use this for departments as well and keeping your vision on task with their accomplishments.
This is not a simple as it may sound. Success is based on doing things in a smart way.
Needs are things that take us to the next level.
Wants are things we see as success markers.
Its ok to want things but more importantly, do the things we want truly bring us happiness? It’s been said by successful people over and over. Do what you love, and the rest will follow.
Being open to change
Take the time to learn the rules set by successful people. Aspire to your influencer and their words of wisdom.
It will be worth your time to watch at least two of these videos below.