[vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][vc_single_image image=”1437″ img_size=”full” onclick=”custom_link” link=”https://thomrigsby.com”][/vc_column][vc_column width=”1/3″][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_custom_heading text=”Create Your Own Cash Machine” font_container=”tag:h1|text_align:left|color:%230066bf” google_fonts=”font_family:Droid%20Sans%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal”][rev_slider_vc alias=”money1″][vc_column_text]Money is a measurable in business. You can easily measure how much you make, how much you spend and how much you keep. Beyond that it gets a lot more complicated.
Your attitude toward money determines in a large part your success in business. Your beliefs about money are often determined by the myths you believe. Do you believe any of these myths?
- The purpose of your business is to make money.
- You have to spend money to make money.
- It’s easier to make money when you have money.
- Money has value.
- There is only so much money to go around.
What you believe about those myths will determine your attitude toward money. Your attitude determines your success in business far more than a lack of money impacts your business.
Creating Positive Cash Flow
Moving from the myths to the reality, your attitude toward money is important, but you also need cash flow. Achieving a positive cash flow is vital to your attitude every day. How do you go from a negative to a positive cash flow?
Know your numbers…
- What is your Cost of Goods Sold?
- What your your customer acquisition costs?
- What’s your cost of customer service? What’s your return?
- How does your pricing compare to your competition?
- What do you spend on market research?
- What are your marketing costs? How are you measuring your returns?
- Can you explain your product/service in terms of actual dollarization?
If you know those numbers, you can start taking steps toward creating a positive cash flow. If you don’t know, you are draining yourself dry and might not even know it.
“Tighten Your Belt”
You’ve heard that before. It’s a typical knee-jerk reaction to a negative cash flow. It usually results in cutting off the very things that you should be funding so you can increase your customer base. Rather than tightening your belt, how about testing your activity.
A Cup of Coffee and $10,000
Would a cup of coffee and $10,000 improve your day?
Money fixes a lot of things. It doesn’t fix bad habits. Increasing your top line may not result in bottom line growth. In fact, many businesses fail because they get contracts/orders that exceed their ability to fulfill at a profit.
Growth can kill a business as quickly as stagnation, without the proper analysis of the numbers that make your business grow.
The Purpose of Business
“The purpose of a business is to get and keep a customer at a profit.” The natural by-product of that is positive cash flow. When the focus becomes the next dollar the next dollar becomes more and more elusive. At that point you have a hobby and not a business. You’ll never have a money tree…
Are Your Ready?
Start today growing your money tree. We help business owners and entrepreneurs create a money tree for their business. A coach can guide you through the process necessary to creating positive cash flow.[/vc_column_text][vc_btn title=”Get Started Now…” style=”3d” color=”primary” align=”center” css_animation=”appear” link=”url:https%3A%2F%2Fknolworx.activehosted.com%2Ff%2F5||target:%20_blank”][/vc_column][vc_column width=”1/3″][vc_row_inner][vc_column_inner]No Fields Found.
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