1001 Business Bedtime Stories…
Truth 4: Cashflow
Ever wondered why sometimes we don’t succeed, even when we know how to solve a problem? Find out how Vivienne overcame her cashflow problem and now couldn’t be happier.
Once upon a time, a long, long time ago in a country not unlike Australia…
Vivienne owned a consultancy that helped businesses implement OH&S practices in their workplaces.
She worked hard and had plenty of clients. She knew her market and had priced her services appropriately, but found she was forever struggling to pay the bills at the end of the month. Even though there was nothing wrong with her business profitability.
Cashflow was the obvious problem. But knowing this didn’t solve it.
Each week Vivienne thought, “I know my cashflow is hurting the business but it’s hard to makes changes and I don’t know how to do it.”
Vivienne was losing sleep.
When Vivienne joined me in The Intensive two years ago she made a wish and committed to it. She said:
“I wish to have money left over at the end of each month, and I am going to do whatever it takes to get there.”
So we got underway…
Now it didn’t take a rocket scientist to work out that the first step on the path was to design a consistent debt collection strategy… We worked out a system of weekly actions and follow-ups and, most importantly, Vivienne vowed to stick to it with machine-like consistency.
So she did… and it took a lot of courage.
Vivienne started using the system, week in, week out, no matter how unpleasant some of the phone calls were or how yuck she felt getting debt collectors involved. She had the courage to honour her commitment to herself and to keep going until her cashflow problem was solved.
After six months of this relentless focus, it was clear that Vivienne’s business and her life would never look the same again.
Now… two years later, Vivienne is putting cash aside every month in an investment account and, I might add, she looks 10 years younger.
And Vivienne will live happily ever after… The end.
Ask yourself… Where will you find the courage to make profound things happen in your business?
Purpose, Profit and the 7 Big Questions of Small Business
Business owners frequently ask 7 Big Questions about how to Build a Beautiful Business and Life.
The second of the 7 Big Questions is: How do I make more money in my business?
To answer the second question, I have identified 7 Rules for making more Profit in business.
The first of the 7 rules states that Profit is not the Purpose of business. This is one of many more articles on this site that explain how Purpose, and Profit hang together, in some depth.